Origination
- Overview
- Application Acceptance
- Application Processing
- Exceptions Management
- Contracts
- Closing, Funding, Shipping
Application Acceptance
Working with clients, retail financial institutions aim to protect both their own and their clients’ assets. During the application acceptance period, retail banks are bound by regulations to conduct in-depth know-your-customer checks, as well as determine whether the potential client is blacklisted. If the details discovered within these activities are not properly evaluated, retail banks face the possibility of accepting clients and providing services that will not have their obligations fulfilled by the second party. Retail banks are also inundated with fraudulent transactions, and this creates further investigations that can be impossible to complete when information about clients is inconclusive. Retails banks face the challenge of knowing every characteristic about each of their clients, but often have no system that aids them in managing and evaluating this data.
How OpenText Helps…
OpenText ECM can help your retail bank manage all information relevant to a client, keeping it in one location on a user-friendly interface. By automating the evaluation of certain client characteristics, OpenText solutions can provide analyses that guide your bank in obtaining only desirable clients that will carry out their contractual duties. OpenText solutions can also aid in the tracking of unusual client behavior, helping your bank determine what is a fraudulent transaction and what is a falsified claim by a customer. By archiving transactional history, OpenText guarantees that your retail bank is never without the knowledge it needs to evaluate applications and transactions while mitigating risks and damages.
| Business Challenge | Customer Case Study and Solution |
|---|---|
| How do you deliver a seamless user experience across systems? | European Investment Bank |
| How do you ensure accuracy and high customer satisfaction with rapidly increasing document volumes? | MLP Finanzdienstleistungen AG |
