There are scores of transactional processes taking place concurrently that could benefit from a robust content services platform and solutions. They include account opening, courier management, e-signatures, fraud mitigation, loan shipping and wire transfer execution, just to name a few.
Using Hyland content services to manage these processes helps credit unions cut costs and save time. It also gives credit unions one single reference point to consult across departments and processes. The increased speed and accuracy makes it easier and more satisfying for members to do business with you.
Create consistency for account origination and management in credit union operations
Paper-based processes slow new business and fail to capture critical information, but even credit unions doing business digitally can be at risk. Just because you can access member data electronically or you can scan documents into line-of-business systems doesn’t mean your processes are efficient.
Imagine the cost savings with fully automated, electronic processes.
Using electronic documents and processes is a faster, less expensive and more accurate way to open new accounts and manage existing accounts. Instead of managing paperwork, you capture and manage documents and data directly in the content services platform, regardless of its format. Employees enter required information into the screen right in front of them and never leave the member’s sight.
Hyland's content services solutions also give credit union operations increased transparency into documents, information and processes. Executives and managers gain improved visibility using a dashboard that presents an overview of critical information in one easy to read screen, so they see how processes are working in real time.
Not only does it increase the ability to share information internally and externally, it also helps identify roadblocks and measure the effectiveness of processes. By measuring key performance indicators and process statistics, management optimises processes, creating a competitive advantage in the marketplace.
Eliminate courier costs
Further optimising processes, you can also capture signatures digitally to reduce overall processing time per transaction, create consistency in processes, lessen paper consumption and decrease storage costs. With content services, you don’t have to use couriers and deal with the high costs that go along with them. You easily create manageable electronic workflows to eliminate shipping costs between the branch and home office.
By utilising branch capture to scan and transmit cheque images directly from the branch to a processing site, you don’t have to physically transport cheques for processing. You also scan all inbound mail while automatically notifying recipients that there is an image of information they need to act on or might be interested in. With content services, credit unions only need to use a weekly shipping service for those high-maintenance documents that need to be signed, while the original document is securely saved.