Restructuring, consolidation and volatility are driving significant structural changes in the investment and retail banking sectors—and that was before Dodd-Frank. Banks are responding by actively looking for ways to improve liquidity, restore investor confidence, increase customer retention and better compete for deposits. They recognize the need to streamline business processes to better support their clients during account opening, loan origination, mortgage processing and portfolio management.
Such customer interactions still happen primarily at branch offices, despite acceptance of internet banking for day to day transactions. These are document intensive business processes that require mostly paper based verification forms and documents such as proofs of income or ID cards. For example, a typical loan folder can contain 200–300 pages with a wide variety of document types, and each document has to be classified and its information extracted to drive the approval process.
Inception Technologies document capture, document management and workflow solutions, such as Kofax Capture, help financial institutions drive business process productivity in a way that will keep the regulators happy (or at least at bay). If your institution can’t support the investment in infrastructure, hardware and software, Inception Technologies offers business processing services to do the heavy lifting. Let our team become your document processing experts.