Statement Digitization and e-Presentment for Banks
Crawford Technologies offers a statement digitization and e-presentment solution designed for corporate, retail banking and investment firms, based on CCM Gateway for Alfresco.
Financial Institutions handle three types of documents every day:
- Paper documents (which are often scanned and stored as electronic images)
- Office documents (created in PDF, Word, and other formats)
- ‘Print stream’ documents (created in AFP, Xerox, PCL, and other printer-specific formats)
Alfresco handles the first two types of documents ‘out of the box’ – but banks create millions of ‘print stream’ documents every day (statements, quotes, proposals, contracts, letters, etc) in ‘printer-specific’ formats like AFP, Xerox Metacode/DJDE, Postscript, PCL, etc. These documents are created by their core business systems and are created in these formats to facilitate the printing and mailing of documents to customers.
Until now, organizations had no choice but to store these documents in expensive, legacy, often mainframe-based systems that are completely separate from the systems they store the rest of their electronic documents.
Crawford Technologies’ CCM Gateway for Alfresco solution allows organizations to easily store AFP, Xerox, and other print stream documents directly into Alfresco – allowing them to deploy one modern, open, cloud-first solution capable of storing all their organization’s documents. The solution can also make electronic documents accessible to the blind and visually impaired.
This business benefits of the solution include:
- Bringing all documents about customers and other entities together in one solution, secured with one set of access controls, and managed by one set of retention and governance policies:
- Improves productivity
- Reduces governance and compliance errors
- Reduces operational costs and complexity
- Allows organizations to easily comply with:
- Data Protection and Privacy Regulations: GDPR (General Data Protection Regulation), CCPA (California Consumer Privacy Act of 2018) and Insurance Conduct of Business (UK)
- Accessibility Regulations like ADA (Americans with Disabilities Act), UK Equality Act, EU Codes
- Enables bringing the data trapped on those documents to life - allowing analytics and AI tools to surface new business insights
- Operational cost savings including:
- Reduction in overall infrastructure requirements
- Reduction in technical staffing requirements
- Reduction in licensing and software maintenance fees