FSI
Business Challenges
Banking and FSI (financial services institutes) have to fulfill industry specific security and regulatory compliance mandates and thus have very stringent requirements on the security and authenticity of their business transactions and data records. Different types of documents need to be properly processed and archived and readily retrievable for compliance and customer satisfaction reasons.
On the other hand, most of their legacy IT systems focus on silo business applications, leaving many vaults between the business transactions to be filled by manual administrative procedures and tasks. Management sees the pressing needs to fill the gaps with a versatile document and workflow management solution to boost the overall productivity. The solution must be versatile to meet the diverse requirements of different departments, ready to integrate with their legacy applications, and easy-to-use so that it can be readily accepted by its users.
The Solution
The ParaDM system combines sophisticated document management functions with versatile workflow automation functions. It can be easily integrated with existing IT systems for end-to-end automation of business transactions. For example, loan application, remittance application, account management, portfolio management, compliance audit, account investigation, consolidated account statement and many other applications can be implemented with ParaDM.
Fast ROI with powerful document management functions
There’s a wealth of paper documents associated with each client and their investment portfolio. ParaDM can effectively process and digitize these documents to streamline the operations and provide better services to customers.
Setting up the ParaDoc DMS is as easy as configuring a multifunction printer (MFP) to feed scanned images to the ParaDoc system. New documents as well as backlog paper documents can be readily digitized for easy retrieval and access.
The ParaDM solution supports “booklet scanning”, a popular requirements of application form scanning, and can automatically convert scanned booklet size application forms into A4 images for easy retrieval and review. This and other user friendly functions can significantly reduce manual works to facilitate quick rollout of the solution.
Once the documents are digitized into ParaDM, they become a single secure source of information that can be retrieved for use by your other applications. With its versatile and reliable architecture, the ParaDM system can be readily integrated with customers’ legacy systems for end-to-end business transaction automation.
Security and access control
Proper access control is essential to protect client information and assure compliance with security policies. The ParaDM system supports many advanced security functions including “signature cropping”, “document view only”, document content encryption, digital signature for document authentication, document flow tracking and many others. Client information is safely protected against unauthorized access or information leakage.
Central management, ease of global accessibility and deployment
With its web-based and highly available architecture, the ParaDM system can be readily deployed to support distributed users, e.g. new branch offices or oversea offices. It can be centrally managed at the headquarters without dedicated IT resources at remote, distributed locations.