It’s Q4, how are you doing on those goals?

There is a chill in the air, leaves have abandoned their trees, and the stores are filled with holiday décor. That’s right, it’s that time of year again: the end. As we approach the culmination of 2017, how are you doing on your goals for the year?

If you have completely abandoned “The big 3” for 2017 or need a refresher, let’s take another look at three main goals for the year every financial institution should be working toward:

1. Improving records management

In order to keep up with the growing number of regulations involving documents and records, and to avoid fines and bad press, records management functionality should be a priority. But first, you need to digitally capture your content to provide faster, improved access to it.

Then, you can utilize records management capabilities with predefined rules to automate your processes – from record declaration through final disposition. Users can place holds on those records to automatically destroy or purge them from the system, staying in compliance with the exact amount of time records need to be held and avoiding the risks associated with unsuccessful audits.

How far did you get on this one? Are you using electronic forms to capture customer and member data? How about mobile capture to obtain images and information on mobile devices to instantly provide controlled and secure access?

2. Knowing your customers and members

To support today’s crucial customer and member-centric banking strategies, you should utilize a content services (or enterprise content management) platform. With electronic documents and information stored in a secure, central system, employees are able to access customer and member information and documents directly through their core banking systems or line-of-business interfaces without having to switch screens or applications.

With a simple mouse click or finger tap, employees immediately know everything they need to know.

How is your organization tracking against this goal? Did you identify any IT sprawl? Did you find any data silos where information is hard to access?

3. Wowing your customers and members

Instant access also means employees are focusing on customers and members, not looking for information. By integrating core banking software with ECM, customer service representatives have that instant access to relevant information.

This empowers them to provide fast, accurate answers when a customer or member needs help – the true “core” of your business.

Going even further, an ECM or content services platform can also provide several mechanisms for customized, automated statement delivery. You can also provide secure online access to documents, enhancing the customer and member experience.

How did you do on this one? Are you customizing compound statements, delivering them via email, fax, or on the internet? Are you including your most current marketing messages?

Good luck as we wrap up 2017. And if you’re coming up short or run out of time, like Cleveland Browns fans know all too well, “there’s always next year.”

Michelle Harbinak Shapiro

Michelle Harbinak Shapiro

Michelle Shapiro brings more than 15 years of experience in the banking industry to her role as Financial Services marketing portfolio manager at Hyland. Her mission is to share best practices and evangelize the power of ECM as a tool for banks, credit unions and lenders to help automate paper-based processes and proactively manage regulations.

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