Opening a new bank account made simple by new solution


Johannesburg, July, 2014:

With nine of the top 10 worldwide banks as customers, Lexmark knows a thing or two about the account opening process. Thanks to combined Lexmark and Perceptive Software technology, a new solution makes it easier than ever to open a new bank account.

 

Improved compliance: New Account Automation enables banks to capture and classify documents at the bank branch, ensuring account packets are complete with all the documentation and signatures needed. This is essential as banks are overwhelmed by regulations such as Know Your Customer and Anti-Money Laundering (AML), which require banks to follow procedures to identify their customers and report suspicious activities. In fact, banks are paying millions in penalties because they are not performing enough due diligence around AML.

 

Different input sources: New account forms can now come from a variety of sources beyond a Lexmark multifunction printer (MFP). For example, a customer can email a form to the bank, upload it to the bank’s website, or the bank can scan it at the branch and the solution takes it from there. New Account Automation supports what banks are calling an “omnichannel” approach, working with their customers the way they wish to interact with the bank, giving bank customers convenience and an improved experience.

 

Higher-level reporting: Documents are temporarily stored and classified as they come into the branch (via scan or email, for example) before being sent to the bank’s back-end system. This provides a higher level of reporting than the case-by-case reports previously available. For example, a branch manager can now see a snapshot of errors outstanding and identify which accounts are still missing data or documentation and take action accordingly.

 

“New Account Automation was spearheaded by the Global Banking team to help our customers overcome significant business challenges around new account opening,” said Shehla Zafar, Lexmark global industry manager – banking. “This new bank account opening solution will improve customer experience, strengthen compliance and lower processing costs for our bank customers.”

 

The recently launched New Account Automation solution builds on Lexmark’s Branch Capture solution, combining routing capabilities of Lexmark Document Distributor software with classification from Intelligent Capture and storage in Perceptive Content.

 

About Lexmark

Lexmark is uniquely focused on connecting unstructured printed and digital information across enterprises with the processes, applications and people that need it most. For more information, please visit www.lexmark.com or www.connectingbusiness.co.za

 

Lexmark and Lexmark with diamond design are trademarks of Lexmark International, Inc., registered in the U.S. and/or other countries. All other trademarks are the property of their respective owners.

 

1 Source: Quocirca Managed Print Services Landscape, 2014

 

Source: Lexmark


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