How Financial Institutions Are Relying on Electronic Document Management

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Many financial institutions rely on electronic document management solutions to operate effectively. It is this service that permits branches and various departments to access client information seamlessly regardless of location. 

It enables authorized personnel of all levels to retrieve customer information as necessary. This level of efficiency promotes better customer service as it eliminates the need to get up and go to the central storage location to access the required information and promotes one-call close of most customer and vendor issues. 

Electronic Document Management provides financial institutions with the ability to navigate through systems and applications easily while conducting business with their clients. 

What Are Some of the Ways Electronic Document Management Helps Financial Institutions?

Client File Management 

With the thousands of clients doing business with financial institutions, it only makes sense for there to be a platform in place that assists them in managing client documents. Loan records, insurance files, wealth management information, and communication records, are just some of the data that can be stored and accessed. An electronic document management system also ensures that only authorized employees are given access to client files from different branches. It also eliminates the need for multiple copies and potentially inconsistent information. Many of these systems can be integrated with other line of business systems and provide a 360 degree view of a client as well as their assets and liabilities.


Financial institutions are consistently in contact with sensitive client information. Customers expect that their information is going to be secured and protected from unauthorized access. An electronic document management system provides this security. It ensures that permission is given only to authorized employees and provides a comprehensive audit trail of everyone who accessed each record. 

Unlike paper archives, which are accessible to anyone, digital files offer more control and limits to access while providing ease of access to authorized users. So, utilizing such a reliable and organized system is very beneficial.

Document Retention Policy and Process 

The expectation for organizations that persistently come in contact with pertinent client information is that there is a document retention policy in place. The ruling typically attributed to a document retention policy is that specific document types are to be retained and then purged at certain times. 

With electronic document management, destruction of documents can be performed automatically based on pre-approved and tested rules; a capability that can ensure that documents do not exceed their retention period. 

The purpose of electronic document management is to manage the creation, storage, and retention of documents automatically. These attributes offer organizations the ability to function proficiently. CASNET is proud to provide electronic document management and document scanning solutions to organizations in a variety of industries. Whether you require copying, scanning, cloud or document management services, CASNET can offer them.

Contact us today for a free consultation.

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