Paul Dominique, PresidentFive years after the global financial crisis, the banking industry is entering a new phase in its post-crisis journey, with a sharper focus on boosting profitability. Using the latest technology, banks work to identify fresh business niches, develop customized services, implement innovative strategies and capture the latest market opportunities. However, while banks experience a strong recovery, they continue to struggle with the challenge of effectively reporting and coping as regulation continues to evolve and create an ever-tighter environment. Subsequently, as more data is collected on various aspects of banking operations, “banks fail to be transparent and accurately report to both regulatory agencies and the general public,” states Paul Domnick, President, Litéra®. “Between the complexities of data protection, governance, and compliance, for most organizations, the new problem is not lack of control over structured data; this is a problem that most have addressed. The emerging issue is controlling unstructured data contained in email, contracts and all other documents.” To help banks prevent financial crime, protect their reputations, and create value, North Carolina-based Litéra® offers a comprehensive solution set which enables banking organizations to efficiently create, control and collaborate on unstructured content.
“Our solutions allow banks to improve the productivity of every employee and implement appropriate controls that keep everyone working within corporate policies,” says Domnick. The firm’s tools provide the control and confidence needed when working with spreadsheets and audit papers, annual reports, income and balance statements, audit reports, regulatory filings, complex supply-side or sell-side contracts and other sensitive, high-value documents. “Our integrated solutions ensure the organization is protected from unintended disclosures and errors which can be easily missed during manual review processes,” says Domnick.
Litéra’s solutions streamline workflow to help businesses create, control and collaborate on documents at a rapid pace. The firm’s product, Innova™ helps to consistently and correctly create documents from easily customized templates without writing a single line of code. Additionally, Content Hub™ from Litéra® empowers teams to generate documents, proposals and presentations in minutes from the organization’s best and approved content; this eliminates the risk of incorrect or outdated content being used when creating a new Microsoft® Word or PowerPoint deliverable.
Users can benefit from an accurate, comprehensive snapshot of content files across shared networks and cloud-based repositories
It allows contracts, “Request-for- Proposal” responses, sales pitches and other complex documents to be generated quickly with content customers need. Focusing on collaboration, Litéra IDS® allows simultaneous document co-authoring, while Litéra SYNC® provides a secure Enterprise-File- Sharing solution that maximizes the ease of use with secure access via mobile apps or a web browser. “The product is seamlessly integrated with Litéra® productivity and risk management tools such as document comparison, metadata cleaning, PDF conversion, secure file transfer and deal rooms,” says Domnick.
Litéra EKTA™ further helps organizations by providing a comprehensive view of where and how files are being stored between corporate and cloud-based file stores. The product enables complete control through logging of all activity; repository connections, file sharing, file manipulation, downloads, views, etc. in one central console. “Users can benefit from an accurate, comprehensive snapshot of all their files across shared networks and cloud-based repositories such as SharePoint®, Dropbox™, Box, OneDrive, Google Drive, iCloud, popular documents management systems, and many others,” says Domnick.
Litéra’s uniquely powerful approach to content lifecycle management has resulted in excellent speed-to-value for customers. An organization leveraging Litéra’s solutions can reduce the amount of time and effort to produce critical documents by over 50 percent.
“We are customer centric and our customer retention rate is well over 99 percent,” asserts Domnick. Besides, Litéra® partners with technology vendors and service providers around the world to ensure customers have access to the expertise they need to make the most of their content lifecycle management investment. Going forward, the company will proactively operate ahead of the curve to satisfy clients’ needs.