Tier 1 Bank is a European-based bank and financial services company with global assets exceeding $2 trillion. The Bank has a presence in more than 70 countries worldwide and offers a range of services including wealth management, sales, trading, and corporate finance. The FileNexus® Document Management System was initially deployed by the Bank more than 15 years ago, and continues to be an integral part of daily operations.
The Bank needed a more efficient way to manage thousands of host system generated trading and commission reports. Prior to FileNexus®, staff would manually print, distribute, and archive more than 160 reports on a daily basis, and over 500 reports on a monthly basis – amounting to millions and millions of pages per year.
Handling a high volume of paper was slow and consumed a significant amount of staff time. Wanting to save on storage and retrieval costs, the Bank looked to FileNexus® as a solution.
All reports are now automatically captured, indexed, and archived by FileNexus® directly from the print stream. Setting up a new report for automated capture requires a time investment of about two minutes. Documents can be recalled within seconds, with every action automatically logged by the System. In addition to improving archival efficiency, the Bank has also been able to enjoy dramatic savings associated with staff time, mass printing, and storage.
The FileNexus® Enterprise Document Management System gives organizations, both large and small, the ability to capture virtually any type of document from any source (i.e. paper records such as maps, drawings, manuals, electronic files such as host generated reports, client statement streams, IVR recordings, etc.), index and compress them for secure archival and future recall—providing a single cohesive repository for all document management, workflow, archival and business continuity needs. Simple to use and learn, FileNexus® is designed to take advantage of existing infrastructure, minimizing project costs and reducing both IT and user training requirements.