Industry Solutions >> Financial Services
Loan applications. Payment records. Fund transfers. Real estate sales. Broker transactions. Mergers and acquisitions. The safekeeping and accessibility of paper and electronic documents that are evidence of millions of transactions are a key business issue for the financial services sector. Coupled with increasingly stringent regulatory requirements, recent privacy legislation and Sarbanes/Oxley, your organisation needs to ensure compliance, manage costs and not impact your ability to deliver service to your valued customers. A well-designed and executed records management program can reduce space and labour costs, improve service delivery and ensure compliance.
Datafile Can Help
For 25 years we have been providing major Australian financial services companies with expert advice to ensure their records systems are compliant, efficient and cost effective. Datafile records management professionals will benchmark your document management practices against best in class systems. From electronic imaging, to barcoding financial applications, to colour coding files, Datafile will provide you with the best solution to manage greater file volumes more efficiently and in less space. Our solutions can even allow you to manage more records with fewer people. When it comes to consolidation of records in multiple branches, Datafile can offer you expertise in planning, equipment and labour, allowing your organisation to concentrate on its key business objectives.
Here's what a major international bank's project manager had to say about their new document management system after a consolidation:
"Datafile has improved our ability to process requests and service our clients. It's heaven compared to what we had. We can account for a file 24 hours day - we always know where it is."
Work More Efficiently
Even though you function in a digital world, interaction with your customers often involves the completion and signature of multiple paper documents. Personal and corporate lending involves the administration of an approval process that is document driven including the credit verification process. Investments involve matching assets and liabilities on a daily basis through trading in the debt and equity markets. By developing and implementing a proper records storage and management system for your organisation, Datafile will help you realise efficiencies in space utilisation and retrieval time. Files will be easily shared and allow you to deliver superior customer service, and make better business decisions to minimise risk and exploit potential opportunities.
"When we first started centralising the process of loan documents, our commitment to the branches was a 72-hour turnaround. Now we can deliver documents in 24 hours…which provides our branches with the ability to provide faster and better service to our customers."
-- Senior Manager - Service Delivery, Leading International Bank
Demonstrate Regulatory Compliance
Increasing legal and regulatory requirements necessitate that your records management program clearly outlines your responsibilities in creating, maintaining, accessing and storing critical records and ensuring that all legal obligations are met. Personal privacy policies, procedures and documentation ensure compliance with Australia's Personal Information Act and provide a roadmap for your employees to follow. A structured and strategic compliance program provides a proactive approach to minimising your organisations exposure to risk and litigation.
Reduce Storage Costs
Ensuring that only the most essential records are maintained and housed is fundamental to a cost-effective records program. Elimination of non-record and non-essential materials and documents designated for off-site storage can reduce storage costs and improve retrieval time and access to the information when critical. Datafile can help you develop a records retention strategy, based on your specific requirements, that will ensure you are keeping only those records that are essential to retain.
Support Key Business Functions
Documents provide the “corporate memory” or knowledge base of your organisation and support your key business functions. A large percentage of your customer interaction involves retrieving specific customer documents and forwarding them to the customer to answer an inquiry or clarify the terms of a transaction. Trust Datafile professionals to help you organise, access and manage your documented information in support of key business functions.
"I work with third party providers often in my role. From a standpoint of support, partnership and professionalism, Datafile is one of the best I have worked with."
-- Project Manager - Corporate Services, Leading International Bank
For more information on how Datafile records management services can help your financial services company, call 1-800-503-453 or complete our response form.