Document Capture Software for Financial Services Firms

Reduce manual tasks and improve customer service with advanced capture.

Many different industries deal with a high volume of documents on a regular basis, but one of the most paper-intensive sectors is finance. Banks have to keep record of every client transaction that occurs—without automation, entering this data can be time-consuming and error-prone. Financial services companies are required to keep records of all correspondence between clients, along with all the paperwork concerning their clients’ financial policies.

Keeping this information in paper records can lead to a significant accumulation of paper files, racking up print and storage costs, and oftentimes requiring companies to purchase offsite storage. Add to that the burden of retrieving these documents when they’re needed by a staff member or client, or for an audit, and you have a system that simply isn’t conducive to efficiently running a business.

An automated solution from PSIGEN can greatly improve processes for financial organizations. Check out these 5 ways PSIGEN makes financial companies more efficient:

  1. Keep customer information secure and compliant. FINRA and SEC regulations are extremely important in the financial world. Remaining compliant with these agencies is crucial to any financial organization. With PSIGEN’s robust security features, you can be assured that your confidential information is secure and compliant. PSIcapture also integrates with your ECM security, ensuring a compliant process from start to finish.
  2. Simplify transactions. Banking institutions can lose a lot of time entering transaction data, which can take a toll on productivity and affect customer service. With PSIcapture, transaction data can be automatically captured, extracted and routed seamlessly to your repository. Learn how our friends at Lake City Federal Bank implemented this solution, which allowed them to save valuable time, cut unnecessary costs and improve customer service.
  3. Improve access to client documents. Financial organizations keep a myriad of documents on file for each client. Storing these documents in file cabinets is an inefficient and costly method of keeping them. Silicon Valley Bank experienced this problem when the documents for all 4,000 of their clients were stored in physical file cabinets at their headquarters, and employees at their 47 branches had to request documents from that one office. By utilizing PSIcapture, they were able to capture client documents and route them as searchable PDFs into SharePoint, where the documents could then be accessed by employees from any of the branches.
  4. Automate signature extraction. PSIcapture can use image processing profiles to locate, extract and crop signatures from checks or other banking documents. PSIcapture can then output the signatures to a document management system or a specified output structure, where they can be imported into a signature verification product, such as SQN’s SENTRY Signature.
  5. Simplify and speed up audits. Even if your company does everything right, financial institutions are often the subject of regulatory audits, which can be extremely inconvenient and time-consuming. PSIcapture helps speed up audits by improving access to documents, providing an easy trail for auditors to follow and more. Learn more about simplifying the audit process in this blog post.
  6. Increase efficiency for the mortgage process. Mortgage companies need to ensure they have all the necessary documents within a loan packet. With Classification and ACE, PSIcapture can identify which documents (such as a HUD1 form) have been captured, then allow your ECM platform to report which forms are missing. This allows for compliance and permits the lender to sell the loan to another bank.

Is it time to make your business’s document processes more efficient, cut costs and improve productivity? Contact the PSIGEN sales team for more details on PSIGEN’s solutions for financial services.

PSIGEN Software

PSIGEN Software

Work the Way You Want. We specialize in Document Automation, Workflow and Management solutions that positively impact your bottom line.

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