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Situation
Financial institutions must find ways
to differentiate themselves. They need
to create a competitive advantage by improving
the operational efficiencies surrounding
their financial services products, not
just the products themselves.
Financial institutions - from commercial
banks to mortgage and consumer lenders,
credit unions, community banks and investment
firms - need to streamline processes,
reduce costs, and improve customer service.
To gain a sustainable competitive advantage,
financial institutions must have the ability
to:
- Increase operational efficiencies
- Enhance and expand product offerings
- Improve service levels
- Lower unit costs
- Improve customer and member relationships
- Increase productivity
- Ensure regulatory compliance
Solution – Productivity
and Compliance
ONBASE FOR COMMERCIAL BANKING
Commercial banks face numerous challenges,
including the need to increase operational
efficiencies, enhance and expand product
offerings, improve service levels and
customer relationships, lower unit costs,
increase productivity and ensure regulatory
compliance.
The OnBase integrated document management
(IDM) software provides commercial banks
with the solution necessary to meet these
challenges and succeed in today’s
competitive financial services environment.
INCREASE OPERATIONAL EFFICIENCIES
OnBase electronically captures, stores
and manages every document generated or
received by a commercial bank, including
paper, reports, application files, e-mails
and web content. Additionally, OnBase
manages the workflow of the document lifecycle,
such as creation/input, storage, retrieval,
revision and distribution.
By processing check images and integrating
exception reports into the OnBase Workflow
module, users are able to automate daily
tasks and identify and isolate possible
errors while allowing management to monitor
productivity.
Additionally, documents can be shared
across the organization with employees,
partners and customers — based on
the proper security levels. For example,
statements can automatically be generated
and delivered via email, fax, or web posting
and can include customer-specific information
such as technical specifications, contract
or order history, and marketing messages.
LOWER UNIT COSTS
Commercial banks using OnBase realize
cost savings from automated and accelerated
business processes, as well as increased
efficiencies from reduced paper, mailings,
and storage.
In addition, by integrating the appropriate
documents in processes such as new account
creation, loan approval and compliance,
OnBase reduces associated costs and promotes
error avoidance.
INCREASE PRODUCTIVITY
Automating daily work tasks through the
OnBase IDM solution will increase the
amount of time employees spend on value-added
business processes. Having all related
documents accessible from a single document
retrieval screen provides more time to
analyze data and decreases time to search.
ENSURE REGULATORY COMPLIANCE
Commercial banks must adhere to federal
legislation, such as the USA PATRIOT Act,
the Check Truncation Act and the Check
Clearing Act for the 21st Century
The OnBase Front Office Scanning and
Workflow modules provide banks with the
ability to administer the document management
portions of regulatory compliance while
maintaining their operational efficiencies
and customer service levels.
Utilizing the Workflow module along with
enterprise report management (formerly
COLD) processing, OnBase automatically
routes Positive Pay suspect items and
configures rules for exception processing.
Not only will OnBase improve the efficiency
of back-office processing, it also provides
the corporate customer a more accurate
and timely suspect report.
IMPROVE SERVICE LEVELS
Product service levels are one of the
main differentiations among commercial
banks. By enhancing and expanding product
features and improving the operational
efficiencies surrounding these new features
with OnBase, product service levels also
are improved. Without major changes to
an organization's existing line-of-business
applications, OnBase allows all types
of documents to co-exist within a single,
IDM system.
IMPROVE CUSTOMER RELATIONSHIPS
OnBase gives employees the ability to
provide quick and accurate customer feedback.
By connecting the call center directly
to back-office and customer records repositories,
customer service representatives are given
the most accurate information needed to
handle inquiries immediately. Access to
this information also facilitates cross-selling
and up-selling of products and services.
OnBase also provides employees with immediate,
desktop access to a full-range of customer
documents, such as statements, loans,
applications and reports.
ENHANCE and EXPAND PRODUCT OFFERINGS
OnBase Web Server, Workflow and Application
Enabler modules allow commercial banks
to present financial products through
various channels, such as CDs, DVDs and
the Internet, while maintaining existing
legacy systems.
The flexibility of the OnBase Workflow
module automatically provides notifications
when electronic statements are available
and publishes customer CDs or DVDs without
employee intervention.
OnBase significantly improves the quality
of Treasury Management product offerings
to corporate customers. OnBase provides
lockbox imaging, allowing corporate customers
to process and retrieve lockbox deposit
totals and check images based on keywords.
The keywords are configured on an individual
lockbox basis instead of a fixed set of
keywords for every lockbox.
OnBase also improves disbursement products.
OnBase provides a complete Positive Pay
processing solution, including web delivery
with imaged-based Positive Pay.
Client Benefit
Extremely powerful and flexible, OnBase
can be deployed in any commercial banking
environment at both the departmental and
enterprise levels, providing benefits
across a broad spectrum of financial services
business processes, including:
- New account set-up and maintenance
- Lockbox archival, imaging and distribution
- Imaged positive pay with web delivery
- Account reconcilement with back-office
efficiencies
- Statement generation and distribution
- Signature card verification
- Check truncation with CD, DVD and
Internet delivery
- Fraud detection
- Personal trust document management
- Residential and commercial loan processing
- Origination, underwriting, closing,
audit, servicing and secondary marketing
- Management reporting and statistical
analysis
- Workflow to streamline operations
of multiple departments
With the use of OnBase, financial institutions
can:
- Realize a rapid ROI from ease of integration
and scalability
- Automate and accelerate business processes
- Strengthen customer relationships
through improved service
- Adhere to federal legislation, such
as the USA PATRIOT Act
- Manage and maintain complete customer
account information in a single repository
- Improve margins on fee-based services
- Eliminate costs associated with paper
processes (e.g., statement printing
and mailing)
- Grow customer base without additional
staff
- Leverage existing IT investments
- Increase approval processing throughput
- Boost employee satisfaction
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