Banks Growing More Competitive with ECM, Document Management

The challenges modern banks face today are unlike any they have faced in recent history. As the economy steadily climbs out of financial crisis, banks, both large and small, must comply with tighter regulation, restore customer trust, and still compete for customer share-of-wallet with a bevy of new competitors.

Banks likely to flourish in 2012, according to business journal Outlook, will likely do so by significantly scaling back the complexity of their operations, becoming simpler and more specialized. “Technology will play an increasingly important role in the industry’s transformation,” the report reads, increasing cost-effectiveness and process efficiencies.

One technology keeping banks competitive in this new landscape is enterprise content management (ECM). Hyland Software’s ECM solution, OnBase, has done so for more than 20 years. In fact, Hyland’s first customer was a Wisconsin-based bank. In other words, OnBase was built with banking top of mind.

Compliance, integrations

Beyond its foundational expertise in helping manage paper, integrating with programs and automating business processes, OnBase focuses on helping banks comply with financial regulations and protect data and infrastructure.

Furthermore, OnBase seamlessly integrates with virtually any core banking system, including COCC, Fidelity  Miser, Fiserv, Harland UltraData®, Harland PhoenixEFE®, Harland Sparak®, Jack Henry, and Open Solutions. This creates one application that manages all types of content – all without any custom coding – simplifying banking operations.

“With OnBase we can manage reports from our Open Solutions core platform, and then turn that data into meaningful information,” says Debbie Starkey, operations manager, First Federal Savings Bank, Elizabethtown, Ky. “This capability is really what empowers us to make the best decisions to foster continuous growth.”

OnBase also helps financial services organizations facilitate compliance by supporting the processes that surround regulations. After all, new and pending governmental data requirements, like Dodd Frank, are complex, and complicated by reporting requirements for compliance and risk mitigation. To adapt to these changes, your document management solution must be flexible and focused. In other words, you need the right tools to ensure consistent record keeping, while guaranteeing the right information is available to the right people at the right time. 

Fast Facts

• Hyland Software’s first client, more than 20 years ago, was a commercial bank.
• More than 4,600 financial institutions worldwide use OnBase, including seven of the Top 30 U.S. lenders
• Hyland provides a true enterprise-wide solution, ready to assist an financial services department, from new account opening to paperless lending practices to HR.
• Recognized by analysts as a leader in the industry

More Solutions

• ECM Slashes Compliance Concerns for Wealth Manager
• Solving Paper Problems Nets Bank Increased Service, Decreased Cycle Times
• Scalable Content Management Fills Gaps Between Existing Applications