Reducing Banks' Compliance Toll
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Overview: As regulatory pressures on the financial services industry mount, financial institutions face a growing cost of compliance. Focusing on improving just the productivity of compliance efforts will be insufficient to reduce the toll. Financial institutions must improve upstream lending and account opening processes.
While achieving a paperless environment is a worthy goal for banks, a less-paper environment is a necessary - and realistic - starting point. Automating processes by deploying imaging and business process management technologies is the transition strategy for migrating away from today's paper - and labor - intensive environment.