Managers in the financial industry must handle daunting stacks of handling paper files every day. Retail financial services for insurance, banking and investment all manage paper-heavy account forms. The sheer volume alone inevitably causes delays in routing and processing as well as occasional inaccuracies in documentation. Archive Systems provides you with the control and functionality you need to streamline your paper-based processes as you convert the documents to digital format.
Archive Systems has a product for managing documents within one or many departments, and an enterprise records management product. Both products are designed to integrate records management services such as storage, imaging and secure destruction for a unique and complete solution for end-to-end lifecycle management.
ASPEN Virtual File Room for Document Management
ASPEN Virtual File Room is a departmental solution for document management, designed for financial services organizations that wish to convert, manage and secure their paper files as electronic documents. Such documents may be insurance policies, loan applications and forms for investment transactions.
Forms Handling for Customer Account Documents
Customer account application forms for purchasing financial products such as an insurance policy or a mortgage are generally originated as paper documents. ASPEN Virtual File Room supports the process of converting the paper to digital format. The services of imaging of paper documents and the secure storage of these paper documents are tightly integrated with the digital delivery of the electronic document in ASPEN Virtual File.
The solution supports the approval process for the account forms via a feature called Flows. Flows are workflows that are easily tailored to support the processes to which they are applied. The Review feature can be used to ensure that all submitted forms are complete and accurate.
The customer application form and final product purchase agreement can be combined to create a single document, to simplify the management of the document. Notes, comments and redactions can be added to document without affecting the integrity of the actual document.
Folders and Document Types can be created to support the hierarchical organization of your institutions documents. These can be indexed for rapid Search and retrievability.
OmniRIM Records Center for Enterprise Records Management
OmniRIM Records Center gives financial services institutions the power to access, protect and control business-critical information. OmniRIM Records Center provides our acclaimed physical records management capabilities, seamlessly integrated with electronic records management capabilities that allow records management professionals to securely manage the institution’s valuable informational assets for their complete lifecycle.
Centralized Data, Consistent Management Polcies Reduces Risk
Many organizations deal with information silos in multiple offices using multiple technologies. OmniRIM Records Center unifies electronic and physical records to provide a holistic view and centralized control, while allowing easy access for authorized local users. With centralized data in a secure Records Center environment, organizations can enforce consistent classification, retention and disposal policies to help protect against litigation and comply with regulations.
Advanced File Plan Management
OmniRIM Records Center’s new file plan management interface provides a hierarchal view of your entire file plan. You can define record series, apply citations and end-to-end policies, and define user access rights. You can even copy portions of one file plan and add them to another. This enables different lines of business and geographies to have their own file plans.