As the financial industry regains its footing after the economic downturn, many companies are taking a more disciplined approach to cost control and risk management. This means tighter oversight over typical transactions such as new account openings, credit card application processing, commercial loan processing, title insurance, mortgage loan processing, as well as standard customer correspondence.
Accounting, remittance processing and accounts payables and receivables are critical to any organization’s financial well-being. Manual data entry of invoices is a tedious, inefficient, expensive, labor intensive and often error-prone process. Slow and mistake-laden document processing lengthens the payment cycle, reduces staff productivity, adds late payment penalties, and causes missed early payment discounts; it can also be difficult to track the status of these documents in real time.
These challenges can put your company’s rating and regulatory compliance at risk. Unfortunately, in the age of the “Paperless Office,” a significant percentage of accounting activity is still paper-based.
Leading financial institutions are adapting to a new type of consumer, those who are tech savvy and very demanding. In this new digital age, consumers expect financial institutions to provide them instant access to their accounts through mobile and web. This is why so many financial organisations are modernizing their business processes with intelligent information management solutions. From fast compliant loan processing to opening hassle-free accounts, acambah Primed delivers efficiency while assisting your organisation to reduce costs.