An important bank implements a technology solution to shorten their processing time on records for the contracting of new financial products (as loans, credit cards, account opening, foreign trade, etc.).
The Bank offered their customer a faster and more efficient service and it required implement a technology solution to shorten their processing time on records for the contracting of new financial products (as loans, credit cards, account opening, foreign trade, etc.).
Documents for each product contracted are scanned at branches with a multifunction device and then sent to a central back office processing site with Cloud Delivery and Cloud Contract Administration solutions.
Once in the processing centre, the files received are processed according to Cloud Contract Administration´s activity flow: OCR (Optical Recognition of Characters), cataloguing, recording, approval, etc.
The information thus generated is then sent to the legal department where the transaction is closed.
The following results have been obtained:
- Reduction of the processing time by 65%: from 15 to 4 days.
- Dedication of the staff to other tasks of greater value to the bank, such as selling.
- Considerable increases in customer satisfaction, as loan applications are handled faster.
- Optimization of internal processes through the introduction of digital images where before there were physical documents.
- Access to the images from any part of the bank’s network.
- Lower consumable costs, thanks to the multi-purpose devices installed, which combine several functionalities in one device (scanner, fax, photocopier).
- Storage and management of the images with the utmost security.
Transaction identification from the moment the loan is originated.