by Pamela Doyle, Director, Fujitsu Computer Products of America
Recent industry research confirms there is significant scope within most businesses to reduce operational costs, improve collaboration, to enhance customer engagement and to ensure compliance with internal and external regulatory guidelines by eliminating paper from their processes and by taking control of their electronically stored information. This can be especially true for the banking and financial service sector that continues to rely on paper and is heavily burdened with compliance initiatives. While this industry should be applauded for paper-free statements, online banking features and processing, and data recognition of checks from various mobile devices, there are still many processes such as on-boarding new customers, loan origination and approval, refinancing and signature card verification that remain paper-intensive. In an industry that is highly competitive these processes burdened by paper can have a detrimental impact on customer engagement. Additionally, there is perhaps no industry more heavily regulated than the banking and financial service sector. This sector must get all content under control to be able to demonstrate compliance with international, federal, state and industry regulated guidelines.