Banks & Financial Institutions
Data security has tightened govt. regulations and standards to safeguard customers’ personal and financial information. Digital transformation of these paper documents has become a need of the hour for banks and financial institutions and thus helps reduce oversights and data loss.
The banking industry sees a huge amount of transactions daily and the efforts they make to optimize their processes thus most of the internal or external communications are still paper-based. These confidential documents are usually stored manually with restricted accessibility options to a few key employees.
Therefore, managing these paper documents easily and efficiently has become one of the main objectives across banks and financial institutions. Implementing a robust Document Management solution is essential for the smooth functioning of any financial institution.
Royal’s DMS solution saves a lot of money and time by automating the process of sending millions of documents like bank statements regularly thus it not only saves a huge amount of paperwork but also removes a lot of manual tasks. This way, the manpower can be assigned to undertake other important tasks with the fast delivery of digital information customers will have the possibility of accessing this information instantly and thus increases the customer experience.
Digital documents would thus help comply with both federal and state regulations with much ease and can easily meet the external and internal audit requirements.
Environmental benefits are also immense because paper consumption will be reduced to a large extent which implies a decline in waste production and a lesser number of falling trees.