Chris Wacker, CEO, Karl Chan, President and CTO & Thomas Phelps IV, VP of Corporate Strategy & CIOInnovation in banking continues to elevate a customer’s experience across multiple channels. Leveraging state-of-the-art core banking technologies, IT leaders look to drive down costs and complexity to be more competitive. As document-driven organizations, banks face an uphill task in meeting compliance and regulatory requirements. Helping banks address their concerns is Laserfiche, a premier Enterprise Content Management (ECM) company offering document imaging, document management, electronic forms, workflow, e-signature, audit trail, and records management capabilities.
“Laserfiche specializes in automating and accelerating business processes—be it new account opening, lending, or wire payments,” says Thomas Phelps IV, Vice President of Corporate Strategy and CIO, Laserfiche. “A wire transfer that used to take several days can be completed in minutes using Laserfiche software—by automating the workflow involving multiple approvers, while providing robust audit trail and security to ensure compliance.”
Operating for over 29 years, Laserfiche automates a range of banking processes. By integrating seamlessly with existing technology investments such as CRM and core banking platforms, Laserfiche’s ECM solution enables streamlined digital workflows. It takes a proactive approach to address customer needs as it optimizes business processes across industries including banking. “Banks that implement electronic forms and an integrated workflow system can streamline their processes, reduce costs and improve controls. Laserfiche enables private bankers to focus on their customers, instead of manually rekeying data into a system,” adds Phelps.
Increasing Efficiency and Compliance
Laserfiche caters to banking CIOs’ needs of digital innovation and compliance with regulations. In a highly competitive industry, organizations are grappling to comply with various regulatory mandates and deliver optimal customer service, while keeping operational costs down. Manual and paperwork-driven processes only add to the woes.“Forward thinking banks learned to leverage Laserfiche ECM to transform key processes by eliminating duplication, paperwork and time spent on mailing,” says Linda Ding, Senior Financial Services Program Strategist, Laserfiche.
Laserfiche’s solution reduces the complexities of common processes—such as managing contracts with technology service providers—by making smart use of metadata.
Banks that implement electronic forms and an integrated workflow system can streamline their processes, reduce costs and improve controls. Laserfiche enables private bankers to focus on their customers, instead of manually rekeying data into a system
Vendor details, terms of the contract, security requirements, and similar details are diligently listed, easing a bank’s task of tracking the contract with a given vendor. Additionally, Laserfiche is certified by the Department of Defense (DoD) standard for digital records management—DoD 5015.2—which means that the events associated with the records are tracked and sufficient evidence is in place for the integrity of the data stored during the retention schedule.
Laserfiche 10—An Enhanced ECM Experience
As a solution for quick optimization of business processes, the company’s latest ECM software, Laserfiche 10, injects agility into loan processing, contract management, accounts payable and other areas. A new Business Process Library is comprised of about 100 configurable templates to speed up implementations for key business functions including accounting, HR and banking. Laserfiche 10 incorporates integrated social business process management, operational and performance dashboards for business analytics, and support for mobile platforms including iOS, Android, and Windows.
With software engineering led by Karl Chan, President and CTO of Laserfiche, also a recipient of a CIO/CTO Lifetime Achievement Award, Laserfiche is certain to continue pushing the boundaries of innovation. Driven by the technical expertise and business acumen of Chan, Laserfiche looks forward to buttress its automation capabilities as well as build on the promise of hybrid cloud.