Origination
- Overview
- Application Acceptance
- Application Processing
- Exceptions Management
- Contracts
- Closing, Funding, Shipping
Contracts
As legally binding entities, contracts are potentially all a bank has to rely on when creating a relationship with a client or a third party service provider. These contracts contain clauses, terms, conditions, commitments, and milestones that need to be tracked and managed throughout the entire contract lifecycle to maximize benefits and minimize associated costs or risks. If improperly supervised throughout the lifecycle, conditions and terms can be forgotten, causing potentially detrimental consequences to the retail financial institution. Without following the contract as obligations and duties are expected to be fulfilled, both legal and financial damages are likely to occur.
How OpenText Helps…
OpenText ECM solutions can give your retail bank the capabilities it needs in order to be proactive in terms of contract dealings. While contracts are usually only reviewed after a problem occurs, OpenText can provide ways for your bank to prevent those problems, all by simply retaining it in a system that increases the contract’s transparency and makes consistent reviews simple and efficient. With solutions that follow a contract through every stage of its lifecycle, from contract preparation to confirmation, OpenText ECM can transform the way that your bank conducts contract-related activities, therefore leading to better-managed business relationships.
| 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 |
