Boston, MA, USA
November 10, 2006Document
Management in Banking: Overview and
Solution Spectrum
Report Published by Celent
Celent analyzes document management issues
for banks and classifies 30 vendors.
Banking is fundamentally an information-based
business, and despite advances in electronic data management and
transmission, large amounts of communication both within banks and among
banks, customers, and other third parties across a range of business
processes remain paper-based. In a new report, Document Management in
Banking: Overview and Solution Spectrum, Celent analyzes key issues
related to document-intensive business processes in banking and provides
an overview of the technology options available to financial institutions
across different areas of document management.
“The need for managing documents more
efficiently is both an enterprise-wide and line of business requirement
for banks. Whether driven by the necessity to streamline core processes
such as lending or account opening, to improve the quality of customer
interactions, or to fulfill compliance mandates across the organization,
document management solutions are critical for the optimal functioning of
a financial institution,” comments Madhavi
Mantha, author of the report and senior analyst.
The report discusses the role of documents
in banking, looking specifically at the need to transform core processes,
improve decision-making and customer service across channels and products,
and manage the regulatory risk associated with the proliferation of
information across the enterprise. The report also provides an overview of
document management technology, describing the components of typical
document creation and document handling solutions. A high-level guide to
most of the leading solutions in the market, including comparative charts
that illustrate vendors’ client base and technology platform as well as
brief descriptions of each vendor, is also provided.
Celent advises financial institutions to
keep several key guidelines in mind as they consider technology solutions
to manage document-intensive business processes:
-
Focus on the
underlying information rather than the form of the document (i.e.,
paper or electronic)
-
Leverage
existing assets
-
Seek open
architectures that support integration
-
Emphasize ease
of use and flexibility
The report is 35 pages long and contains
five figures and seven tables. A table of contents is
available online.
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About Celent
Celent, LLC is a research and advisory firm
dedicated to helping financial institutions formulate comprehensive
business and technology strategies. Celent publishes reports identifying
trends and best practices in financial services technology and conducts
consulting engagements for financial institutions looking to use
technology to enhance existing business processes or launch new business
strategies. With a team of internationally experienced analysts, Celent is
uniquely positioned to offer strategic advice and market insights on a
global basis.
Media Contacts
New York - Arielle Weliky
aweliky@celent.com
Tel.: +1 212 269 7547
Paris - Alexandra Vouge
avouge@celent.com
Tel.: +33 1 42 61 06 88
Tokyo - Keiko Yaguchi
kyaguchi@celent.com
Tel.: +81 3 3571 7104
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