I. Circular Management
Banks need to publish and distribute a large number of
circulars from sources like Reserve Bank of India; their own legal and HR
departments etc. Most banks in India do it through hardcopy using postal mail.
Given the huge number of branches, this implies substantial expenditure on
dispatch, courier etc. Also users are deluged by the paper and will not be able
to retrieve information easily. The Statute requires that banks retain the
Circulars for at least 3 years. The main problem here is that of Categorization
of circulars based on Subjects, Departments, and the Linkage of Circulars. In
the absence of a proper storage system and classification, the time required to
retrieve the document is very great and depends on Human intervention.
Issues in traditional circular management
Banks and Financial Institutions receive many circulars - both from external
bodies like the Central Bank (like the Reserve Bank of India) and from internal
departments. These circulars concern various operational areas like deposit
accounts, credit policies, regulatory policies etc. and usually need to be
distributed across all the branches and offices of the institution.
Traditionally these circulars are distributed through post or courier, which has
severe deficiencies:
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Once the branch receives the circulars there too lot of manual effort is
required to file the circulars and retrieve them.
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Retrieval is very difficult for users as for each topic they have to manually
search through the documents. Also without circulars on same topic linked
together, users face lot of problems as they have to manually go from one
circular to another.
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Also without circulars on same topic linked together, users face lot of
problems as they have to manually go from one circular to another.
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There is a possibility of the paper documents being damaged in transit or
being lost entirely.
How ViciDocs can be used
ViciDocs is ideal for such situations. Leveraging its rich features the following
methodology can be adopted
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The circulars can be scanned into digital files which can be:
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Hosted on a webserver accessible over intranet/internet.
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Distributed in CDs with the content fully searchable.
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The scanning process is automated to a large extent with use of barcode for
routing documents to the correct folder, automated creation of multipage image
files etc.
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ViciDocs gives an interface to link multiple documents together so users can
view documents related to each other.
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PDF files can be created out of scanned image files or WORD/EXCEL/HTML
documents etc. for users to view richly formatted documents.
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Facilities to take backup etc. easily are provided.
ViciDocs is thus a great boon in this situation allowing the creation of a
secure and searchable repository, which can be accessed through browsers over
LAN/WAN. If the branches are not connected through a network, the relevant set
of documents and index can be archived on a CD, which can be distributed
allowing users to easily search for documents.
A Facility of Integration of Regular circulars getting interfaced with the
repository will make the system current and Dynamic.
II. Business Credit Workflow
Various clients apply to a Bank's credit department for either
new loans or to increase their Credit Limit. The processing of these
applications can take days if done manually.
ViciDocs can be implemented to automate the business process
workflow for speedy online processing of these applications. All transactions
related to these applications are entered into the Business Credit Approval
Workflow and move from one person to another for approval.
During the approval process the workflow activates a
pre-designated path for the movement of the application to only specified people
with security on annotations, notes etc. made by senior officers.
The Current status of the Loan and disbursals can be monitored
from the Head Office and the Categorization of loans will help Banks in Limiting
the Disbursals in respective Limits and Guidelines of the Lead Bank.
III. Integration with banking application for customer relationship management
Banking applications typically contain a form which queries
their database for Loan Account Number of certain customer based upon their
name, document type and location. The documents related to the customer can be
archived in ViciDocs indexed on Loan Account Number & Document Type.
From the banking application the Loan Account Number and
document type can be passed to ViciDocs, which fetches the image and shows to
the user. This helps in faster customer service and higher efficiency of
customer support personnel. It also prevents Multiple Loan disbursals to the
same Client when Client approaches Banks for Loans from Different Branches.
IV. Cheque Processing
Banks in India usually enter both inward and outbound cheques
manually at each of the branches. This entry is done for every clearing session
(generally two per working day). Manual entry is labor intensive and prone to
errors. ViciDocs contains features for recognizing MICR and OCR for printed text
with high accuracy so that cheques can be scanned and fields can be recognized
automatically.
V. Form Processing - Customer forms and signatures
Application forms for credit cards, bank accounts can be
scanned using ViciDocs and specific regions like the signatures can be clipped
by the system and stored in the database. This enables customer representatives
to retrieve them easily and match the signatures. Also specific fields can be
recognized using OCR, barcode recognition and thus manual effort can be
reduced.
VI. Demand draft cancellations and voucher retrieval
This is a very specific application that comes in handy in
almost all branches, which issue DDs/Pay Orders. Typically, when any customer
wishes to cancel a DD/PO issued by the branch, the branch officer is required to
retrieve the physical voucher prepared and filed on the day of the DD/PO issue
for comparing the signature of the person. This is a highly cumbersome and
time-taking process that affects the productivity of the branch as well as the
customer service levels. By having ViciDocs Enterprise DMS archive all the
DD/Pay Order vouchers and by indexing them with the DD/PO number and date, the
DD cancellation process can be made extremely quick and efficient.
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