The paperless revolution is still going strong, and the financial industry is setting the pace. Still, banks and credit unions can do more to make their enterprise content management systems support and improve every interaction between them and their customers.
AIIM research1 shows that there is significant scope within most businesses to improve both staff productivity and customer response time by eliminating paper from the process. This can be especially true of financial institutions due to their historical reliance on paper forms, statements and the need for regulatory compliance. We have already seen how online banking and paper-free statement delivery have produced huge benefits, but when it comes to customer on-boarding, loan approvals and mortgage applications, we are still very much in a forms-driven, paper-driven world.
1 AIIM Industry Watch, April 2012: Process Revolution – moving your business from paper to PCs to tablets. aiim.org/research