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Micro Strategies’ Document Management Solutions for Regional Banks

In: Computers and Technology

Submitted By skothuru
Words 600
Pages 3
Micro Strategies’ Document Management Solutions for Regional Banks meet the unique requirements and challenges of the Banking Industry. Regional Banks continue to look for ways to cost effectively process inbound paper and electronic documents. These firms are also looking to manage the access, control, and use of documents created and stored within numerous repositories throughout their organization. Regional Banking industry trends, including consolidations and the desire to centralize operational functions, have forced many financial institutions to seek ways to reign in the costs and inefficiencies associated with disparate document processes. Micro Strategies provides customers with the insight, industry awareness, and technical expertise necessary to design and implement efficient document processing solutions for all types of simple and complex business workflows specific to regional banks. Whether the system is to be used to address a single departmental need or as a firm-wide content management platform – addressing both individual line of business (LOB) requirements and document management needs across the organization – Micro Strategies offers targeted and scalable solutions built on industry leading technology.

Reduce cost of operations with improved document processing Increase efficiency allowing less staff to manage increasing number of documents Faster processing of customer documents for new account openings Improve customer service with greater visibility and access to customer information and documents Lower risks associated with manual processing, misplaced documents, and duplicate document creation

Regional Banks rely on a solid document management strategy and platform to support front and back office operations. o Improve Customer Service o Lower Operational Costs o Competitive Differentiation o Support Consolidation o Increase Compliance
Compliance for Financial Services
Compliance Solutions for the Financial Services and the Regional Banking Industry are a key focus for Micro Strategies. Companies not only need to accurately process large volumes of customer-based documents, information and forms with less staff and expense, but they also need to secure, monitor and audit these documents according to industry and government regulations. In addition to corporate governance regulations that apply to all public companies, such as Sarbanes-Oxley, the financial services industry faces additional regulations that apply to records management and electronic communication, such as SEC Rules 17a-3 and 17a-4, NYSE Rules 342 and 440, and of course Dodd Frank. The data capture, content management and business process management products that Micro Strategies’ deploys on behalf of our customers are used to assist with these regulatory compliance requirements.

Business Solutions for Financial Services Micro Strategies designs, builds, develops, tests, deploys and supports document-based applications using ‘best in class’ content management software with a focus on achieving our client’s compliance, financial and operational goals. The software and repository can be on-premise or in the cloud, and provides all the basic document management and library services features such as store, retrieve, search, version control and document-level security; as well as the ability to associate documents as part of a client file or package (i.e. loan or new account applications). Some of the specific business applications for financial services include: Document Imaging and Capture Mortgage and Loan Servicing New Account Opening Managing Standards Operating Procedures HR On-Boarding Incoming Electronic Documents and Email Management Approvals and Digital Signatures Management Dashboards for Document Processing Status Outlook and Microsoft Office Integration Records Management
Solution Components Certain solution components vary depending on the existing infrastructure of the client (servers, server software, storage, scanning and faxing software). Through close collaboration with our technology business partners, Micro Strategies will help drive out costs, improve operational efficiency, increase competitiveness, and help mitigate regulatory and governance risks associated to document management. Our key partners include:

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