BizSmart™ for Banks and Financial Institutions, is an Integrated Legal Documentation Management System, enabling automation and digitalization of a rather costly and time-consuming process.
The compilation of legal documents filed by the bank’s potential and existing customers, as well as the following legal consultation by the bank’s legal advisors is a prerequisite in order for an entity, either a company or an individual, to either become a customer of the bank or renew its relationship
The Legal Documentation Management Process involves various worksteps and requires the execution of numerous processes and tasks on a daily basis.
The key consequences of the lack of automation can be summarized in the following:
- High Cost
- Significant Delays
- Potential Loss of Documents
- Errors due to manual data entry
- Limited capability of tracking legal consultation progress and due dates
- Limited capability of producing integrated reports that facilitate business decision making since data are stored in various IT tools and applications
- Increasing need of storage facilities due to large volumes of printed legal documents.
Trusted by banks, such as Eurobank and Alpha Bank, for over 15 years, BizSmart™ for Banks is an advanced Legal Documentation Management System that achieves a significant impact on related Key Performance Indicators (KPIs), through process simplification and End-to-End process automation:
- 20-50% – Increase in Productivity
- 30-90% – Reduction in Delays
- 80% – Reduction in End-to-End Process Time
- 100% – Reduction in Hard Copy Storage &Transfer Costs
Feature wise, BizSmart™ for Banks implementation, begins with the graphical representation of worksteps that are then automatically accompanied by a functional implementation stage, through a typical web browser on internet or intranet environment. Our system is feature-rich yet fully customizable and with a multilanguage user interface.
BizSmart™ for Banks Overview
Seamless Integration with existing Bank Systems & Applications
- Integrated information flow, through Open Architecture that interfaces with existing systems & applications (Enterprise Application Integration).
Management & Reporting
- Effective management and control of the process through tracking and control of: “who”, “where”, “how”, “when” and “why”.
- Extraction of integrated reports that facilitate decision making.
- Mitigation of related operational risks (e.g. GDPR, Health & Safety), through the replacement of hard copy documents and folders, with e-documents and e-forms. Improved security.
- Better allocation of responsibilities for all personnel involved and increased daily number of processed requests, without simultaneous increase in demand for human resources.
- Increased productivity of employees, who have more available time to deal with the substance of their work, and not with bureaucracy.
- Automated, error free and easy end-to-end process execution on a user-friendly system.
- Enablement of remote working.
Improved customer experience through:
- Meeting service time promises to customers
- Accurate status updates
- Error-free customer service
- Remote service capability
Download BizSmart™ for Banks pdf