The FINANCIAL — “Banks need to protect and ensure their assets and their network as well as their institutional shareholders,” Sean Tang, Laserfiche International Regional Manager, told The FINANCIAL.
According to Tang, before implementing Laserfiche document software, these are some of the issues our bank customers face: They have thousands of pages that need to be scanned & indexed daily, Transportation risks/Time lost, Limited search capabilities, Lack of quality control & auditing, Daily Journals not available to branches, Unnecessary costs: Photocopying journals (copy in branch), Storage issues, Lost productivity, Interrupted communication and business processes.
“For some banks, Laserfiche has grown from a departmental solution to an enterprise-wide document management solution,” stated Tang.
In Tang’s words, with Laserfiche’s electronic document management system software and solutions, banks and financial institutions have accomplished the following: Decentralized scanning/indexing in the branches. “We now transfer the daily journals through FTP, Consolidation in HQ, Link with Banking Application, Link with Clearing Application, Verification & Validation in the HQ, Retrieval of scanned journals by the branches, Auditing reports available, Have expanded LF to the bank’s different departments, Increased searching capabilities, Instant Access to the branches for daily journals, Efficient Quality Control, Storage freed-up, Cost reductions, Streamlined operations, Increased productivity, Enhanced security.”
“We have helped banks eliminate the risks of transportation/time lost. We have also automated and backed up our daily documents so that they are secure. Therefore, if there is a disaster, our customers’ assets will be safe and secure. These types of customers have too much to risk not having Laserfiche to help them solve their critical business issues,” said Tang.
In May 2007 to discuss banking issues in the Middle East more than 60 different bank executives gathered at the presentation in Cairo. The participants were interested to learn about how they could address their concerns which included: How to manage the thousands of pages they must scan & index daily, Transportation risk/Time lost, Limited document search capabilities, Lack of quality control and auditing, Daily Journals not available to branches, Unnecessary costs: Photocopying journals (copy in branch), Storage, Lost productivity, Needs for document management software in all the HQ departments.
The solutions that were presented to them were: Decentralized scanning/indexing in the branches, Transfer of the daily journals through the bank’s Local Area Network (LAN), Consolidation in HQ, Link with Banking Application (DTF), Link with Clearing Application, Verification & Validation in the HQ, Retrieval of scanned journals by the branches, Auditing reports available, Expanding Laserfiche document management to the bank’s different departments.
One of the presentation’s greatest success stories in the Middle East is Fransa Bank in Beirut, Lebanon. The bank founded in 1921 is the largest bank in Lebanon with 60 branches. It has an international network including France, Algeria and Sudan. And they have institutional shareholders including Credit Agricole (France), Deutsche DEG (Germany), and Public Institution for Social Security (Kuwait). Laserfiche digital imaging/document management software was first installed at its headquarters to handle the 30,000 pages that need to be scanned daily. They soon expanded enterprise-wide to their 60 different branches to ensure security.
Because of the war a few years back, they chose to digitize most departments including marketing, operations, human resources, administrative, IT, Quality, E-Banking, Insurance Banking, Risk Management, Treasury, Credit Cards to ensure the security needed for their customers. Through this new virtual practice the bank has seen cost reductions, streamlined operations, increased productivity, and enhanced security.
Written by Kate Tabatadze
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