Articles
From The Back Office To The Front Office: Enhancing Document Capture Throughout A Financial Institution
February 24, 2009
Click Here To Download:•White Paper: From The Back Office To The Front Office: Enhancing Document Capture
Less than a decade ago, the biggest concern of large financial institutions was whether their systems would beprepared for a changing date. The electronic concerns of Y2K were overstated, and banks were more than ready for the year 2000. Little did anyone suspect the turbulence that lay ahead—most of it paper-based.
The housing boom of the 1990's brought a flood of new loans, mortgages and an assortment of new banking products. The paper volume increased. Financial institutions broadened their services, offering brokerage accounts, NOW accounts, Roth IRAs, savings plans and lines of credit. The response was an ever-increasing number of depositors. Correspondingly, the paper volume increased.
The corporate malfeasance prompting the Sarbanes-Oxley law resulted in renewed financial oversight. The tragedies of September 11, 2001 brought major legislative changes, a host of anti money-laundering laws and the U.S. Patriot Act. Again, the paper volume increased.
More recently, with declining housing values and a slowing economy, the U.S. foreclosure rate skyrocketed. Once again, the paper volume has increased. As the federal government moves to shore up the economy by investing billions to acquire stakes in some of the best-known names in the financial services industry, one thing is certain — the paper volume will continue to increase.
Click Here To Download:•White Paper: From The Back Office To The Front Office: Enhancing Document Capture
