Financial and insurance companies operate with mountains of paper - forms, contracts, audits, case management files and more. These varying types of documentation often require multiple software systems that that or may not interface - making the challenge of managing information even harder. The ability to manage this information while keeping costs in check, adhering to legal requirements, and pressure from stockholders is becoming an increasing challenge for banking and financial institutions.
Information Capture & Management
PaperFree offers solutions for your institution to solve these problems with flexible and powerful enterprise information capture and management systems. These systems will help you leverage all of your paper information to power your company’s processes. With decades of advancement and expertise behind them, these adaptable systems allow your organization to capture paper data and digitize it into useful, efficient data that can power workflows, schematics, and projections. From collaborating on business documents, to delivering case-based applications, to managing highly precise processes in most regulated business environments, PaperFree offers an effective solution for your business.
These tools also enable your operation to store data in one central, streamlined repository while granting users in all areas of your enterprise access to the information they need quickly, which saves time, expense, and improves your customers' experience. Having all necessary information with the click of a button can also help mitigate risk, facilitate business decisions, and also more easily work through the process of mergers and consolidations. Taxonomies and built-in workflows are also included to enhance the access of information by cross-linking information and allowing quick searches. Effective permission configurations keep information available to only those who are allowed to see it. And, it’s scalable and administration is simplified. Visit our Information Capture and Management Solutions page to learn more.
By making information quick and easy to access, the process of retrieving and processing information to resolve customer requests and applications can be streamlined. With content management systems from PaperFree, loan documents don't go missing and the powerful workflow capabilities ensure that no steps are skipped in the application process. Customers will also enjoy faster answers to their questions, less problems with paperwork, and service without hiccups.
Legal & Regulatory Compliance
Banking and financial institutions are one of the most highly regulated industries today - Check21, the Patriot Act, and FDIC regulations are only a few of the standards that they must adhere to. Enterprise content management systems ease this burden by enabling your industry to maintain accurate, comprehensive reports for regulatory review. Configurable workflows assist in making sure that no steps are missed in the process and that all of the correct assets are available. And, documentation for legal cases can be easily organized and reviewed by only those with permission to do so.
Mergers & Acquisitions
Among one of the most complex and confusing processes an organization will undergo is a merger or acquisition. The consolidation of workforces, physical assets, intellectual property, and business processes is an intensive undertaking. By organizing your information with enterprise capture and management, you can track the process of specific steps, who has them, and where they will go next. PaperFree's backfile conversion solutions also allow you to digitize old, paper information to make it more easily available for review by regulators and workers. By streamlining the process of a merger or acquisition, an enterprise capture system saves money, time, and the from the headaches involved.
Customers trust financial institutions with their money, and are more and more relying on them to protect their personal information as well. This is often achieved through digital security measures, but occasionally there are paper forms that contain sensitive data that must be protected. PaperFree's BlackMark and BlackMark+ redaction solutions offer powerful protection by "burning" the confidential data in the image so that there are no loopholes to access it. BlackMark is a manual redaction solution that offers a variety of redaction options and annotations, and BlackMark+ offers automated redaction of a variety of configurable document types. Visit BlackMark to learn more.
Enterprise information capture and management solutions from PaperFree empower your enterprise to put its data to work for you – reducing costs, time searching for information, and increasing the power of your business information. To learn more about how PaperFree can employ these solutions in your organization, please give us a call today.