The challenge
The Wiener Privatbank’s diverse customer base made the onboarding process for new customers very complex, time-consuming and costly. Countless documents and customer files in an extensive variety of formats, risk and compliance clearing processes, release loops and manual entries led to a veritable inundation of paper documents. The bank was looking to modernize and comprehensively digitalize this, and enable an electronic file system.
Before the Hyland OnBase enterprise information solution was implemented, the private bank had a master datasheet that had to be filled in manually by clerks; 15 to 20 different documents per customer application had to be selected from some 180 templates. In line with the obvious strict accuracy specifications involved in the banking process, the employees had to repeatedly re-enter characteristics such as the customer’s name and address.
The solution
OnBase is now the central digital workflow through which all onboarding processes run. Hyland implemented the project and was supported by its local partner Artaker, which was primarily responsible for project management and coordination.
Filing activities were simplified, approvals were automated; paper processes and the previous file system were eliminated. Now there is transparency at every stage of the process, and everyone involved knows the current status of the customer application.
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Process override by customer service team leaders is no longer possible. OnBase only allows certain steps for a certain risk classification, so any errors are minimized from the outset.
The benefits
OnBase connects analog information with the digital world. Whether signed documents or scanned identification documents, they’re automatically assigned to the correct workflow by barcode.
A seamless process
OnBase is integrated with the core banking system so there is a continuous process from the first customer appointment to risk classification and release, to the creation of the customer record.
A focus on compliance and risk management
OnBase creates reliability and excludes any manual overriding; predefined workflows are adhered to meticulously.
An updated system
Changes in the core banking system are automatically transferred to OnBase without manual intervention.
Disclaimer: Customer titles reflect roles at the time of the engagement.