Banks and Financial Institutions

ViciDocs Enterprise Document Management System in Banks & Financial InstitutionsViciDocs Enterprise Document Management System is a comprehensive multi-user Document management and workflow automation solution and this will be extremely useful in Banks and Financial Institutions by helping them store, organize, index and retrieve various types of documents they deal with in their day-to-day work. Apart from meeting these generic DMS requirements of the Bank like correspondence, Board Minutes etc., ViciDocs Enterprise can be used in the following specific areas in a typical Banking organization. Circular Management Banks need to publish and distribute a large number of circulars from sources like Reserve Bank of India; their own legal and HR departments etc. Most banks in India do it through hardcopy using postal mail. Given the huge number of branches, this implies substantial expenditure on dispatch, courier etc. Also users are deluged by the paper and will not be able to retrieve information easily. The Statute requires that banks retain the Circulars for at least 3 years. The main problem here is that of Categorization of circulars based on Subjects, Departments, and the Linkage of Circulars. In the absence of a proper storage system and classification, the time required to retrieve the document is very great and depends on Human intervention.

Issues in traditional circular management Banks and Financial Institutions receive many circulars - both from external bodies like the Central Bank (like the Reserve Bank of India) and from internal departments. These circulars concern various operational areas like deposit accounts, credit policies, regulatory policies etc. and usually need to be distributed across all the branches and offices of the institution. Traditionally these circulars are distributed through post or courier, which has severe deficiencies: Once the branch receives the circulars there too lot of manual effort is required to file the circulars and retrieve them. Retrieval is very difficult for users as for each topic they have to manually search through the documents. Also without circulars on same topic linked together, users face lot of problems as they have to manually go from one circular to another. Also without circulars on same topic linked together, users face lot of problems as they have to manually go from one circular to another. There is a possibility of the paper documents being damaged in transit or being lost entirely. How ViciDocs can be usedViciDocs is ideal for such situations.

Leveraging its rich features the following methodology can be adopted The circulars can be scanned into digital files which can be: Hosted on a webserver accessible over intranet/internet. Distributed in CDs with the content fully searchable. The scanning process is automated to a large extent with use of barcode for routing documents to the correct folder, automated creation of multipage image files etc. ViciDocs gives an interface to link multiple documents together so users can view documents related to each other. PDF files can be created out of scanned image files or WORD/EXCEL/HTML documents etc. for users to view richly formatted documents. Facilities to take backup etc. easily are provided. ViciDocs is thus a great boon in this situation allowing the creation of a secure and searchable repository, which can be accessed through browsers over LAN/WAN. If the branches are not connected through a network, the relevant set of documents and index can be archived on a CD, which can be distributed allowing users to easily search for documents. A Facility of Integration of Regular circulars getting interfaced with the repository will make the system current and Dynamic. II. Business Credit Workflow Various clients apply to a Bank's credit department for either new loans or to increase their Credit Limit. The processing of these applications can take days if done manually.

ViciDocs can be implemented to automate the business process workflow for speedy online processing of these applications. All transactions related to these applications are entered into the Business Credit Approval Workflow and move from one person to another for approval. During the approval process the workflow activates a pre-designated path for the movement of the application to only specified people with security on annotations, notes etc. made by senior officers. The Current status of the Loan and disbursals can be monitored from the Head Office and the Categorization of loans will help Banks in Limiting the Disbursals in respective Limits and Guidelines of the Lead Bank. III. Integration with banking application for customer relationship management Banking applications typically contain a form which queries their database for Loan Account Number of certain customer based upon their name, document type and location. The documents related to the customer can be archived in ViciDocs indexed on Loan Account Number & Document Type. From the banking application the Loan Account Number and document type can be passed to ViciDocs, which fetches the image and shows to the user. This helps in faster customer service and higher efficiency of customer support personnel. It also prevents Multiple Loan disbursals to the same Client when Client approaches Banks for Loans from Different Branches. Cheque Processing.