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The Benefits Of Automation In Financial Institutions

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The Benefits Of Automation In Financial Institutions

If you’ve ever worked in, or even near a financial institution such as a bank or building society, you’ll know just how unique and complex their paperwork processes are. Financial institutions deal with large volumes of sensitive data on a day to day basis, which raises a lot of concerns around data protection, and results in some heavy regulations around compliance. It is maybe this that has prevented many financial institutions from exploring the benefits of automated document management in the past. But with paper documents becoming the main cause of security breaches and errors, many organisations and institutions are turning to digital documentation and E-forms for better security and improved collaboration capabilities. But how do you manage all of those digital files effectively? Simple – with automated document management.

Better Control

No matter what type, size or format of document you deal with, a document management solution keeps them safe and allows for better oversight. You are able to apply rules to specific documents, generate automated workflows to manage secure information and send documents to the correct storage location in an intuitive and easy to manage way.


Better Access 

Thanks to easy to use collaboration options, working on digital documents with other people has never been easier thanks to document management. Admins are able to specify which files need certain levels of clearance, which can be worked on by more than one person at the same time and save time sending and receiving multiple versions of the same documents. You can search by file name or type, and you can even offer clients the option to log in and view their paperwork securely.


Better Compliance 

Finally, maintaining compliance, no matter how complex the regulation, is easy when you’re using a document management solution. Digital audit trails are present with every document, with the ability to cross-reference documents with a simple click. You can restrict editing or viewing access, and you can easily see who has changed or accessed each document. Best of all, the solutions are completely customisable, so you can control how your files are handled and ensure proper compliance across the board.

For more information on how our document automation systems can help your financial institution, get in touch with the team or book your free demo today.