Banking overview
In banking industry, permanent and fast access to customer data has a major impact on marketing activities, new products / services development and on the way these services are delivered to the customer.
Industry Challenges
70%
of banks report struggling with managing large volumes of structured and unstructured data, which hampers decision-making and operational efficiency
45%
60%
of banking customers expect seamless and fast service, particularly in areas like claims processing and document access
Opportunities and Benefits
50%
of companies have seen an improvement in compliance management through document automation
40%
of financial institutions report enhanced productivity due to digital transformation initiatives
Pains and trends of the industry
Navigating Complex Challenges and Embracing Digital Transformation in the Banking Sector
Banks struggle with managing large volumes of structured and unstructured data, which can impede decision-making and operational efficiency.
Many banks still rely on outdated systems, which are costly to maintain and difficult to integrate with new technologies.
There is increasing pressure to provide seamless and fast customer service, particularly in areas like claims processing and document access.
Banks face complex and stringent regulatory requirements, making compliance management a significant challenge.
Protecting sensitive data from cyber threats while ensuring compliance with privacy regulations remains a top priority.
The shift to remote work has exposed the limitations of paper-based processes and highlighted the need for robust digital solutions.
Banks are increasingly adopting digital technologies to stay competitive and meet evolving customer needs.
The use of AI and automation is growing, helping banks reduce costs and improve efficiency.
More banks are moving to cloud-based solutions for greater flexibility and scalability.
Leveraging advanced data analytics for better decision-making and customer insights is becoming more common.
Our solution
SEAL is a next generation software solution for AI and metadata-driven content efficiency and compliance, an enterprise-grade, low-code digital process automation platform, covering both productivity and cost-cutting related use cases (moving to digital, paperless processes, automation) and compliance and risk reduction related use cases (unified information governance, compliance with GDPR and other regulatory).
SEAL is designed to address critical pains and align with the key trends in the banking industry by offering a comprehensive suite of features tailored to the unique needs of financial institutions.
- Cost-effective Data Management: SEAL consolidates unstructured content from multiple sources into a centralized repository, simplifying data management and enhancing accessibility. This approach helps banks organize and access their data more efficiently
- IT Modernization – Legacy System Replacement: SEAL replaces outdated ECM applications with modern, metadata-driven platforms, reducing maintenance costs and improving system performance and resiliency.
- Automation and AI Integration: SEAL incorporates AI-driven content understanding, extraction and insights and low-code automation to streamline business processes and enhance operational efficiency
- Migration to Cloud and Integration: Seamless integration with object stores and hybrid cloud environments ensures that SEAL provides flexible and scalable solutions that meet modern business needs.
- Customer Service Enhancement: SEAL enables faster and more secure document access, enhancing customer service capabilities and supporting quicker processing times.
- Improved Regulatory Compliance: SEAL offers advanced records management features and policy-based content lifecycle enforcement, helping banks maintain compliance with regulatory requirements
- Security: With robust security measures, SEAL protects sensitive data and ensures compliance with data privacy regulations.
- Support for Remote Work: SEAL facilitates digital transformation initiatives, enabling remote work capabilities by digitizing and automating paper-based processes.
By leveraging SEAL, banks can navigate the complexities of digital transformation, improve operational efficiency, and maintain compliance, all while reducing costs and enhancing customer satisfaction.
Content Modernization and Digital Mailroom for the Insurance Industry
- Global Insurance player
- Assets in 70+ countries worldwide
- 100.000+ employees
- 70M+ customers worldwide
Challenge
Replace the end-of-life legacy content management platform (home grown eDMS)
Disparate content sources: challenges of managing islands of information spread across different repositories and line of business applications (core insurance, claims management)
Registration, classification, and dispatch of documents based on paper-based processes, without automation
Solution
Content Modernization – Replacing the legacy eDMS with SEAL – a next-gen content management and automation platform; Content and metadata migration from eDMS to SEAL, using SEAL Migrator.
Content Consolidation – Unified, compliant content repository (SEAL) integrated with the core enterprise systems.
Digital Mailroom Automation – Correspondence management, for multiple input / output channels (paper, online / web, e-mail), ensuring traceability for requests and compliance with the response times.
Benefits
Reduced Risks – End-of-life archive home-grown content management platform (eDMS) replaced by a modern, unified content management and automation platform (SEAL).
Operational efficiency: Registration of inbound/outbound documents and their rapid distribution to authorized users, unified active document store and electronic archive and 24/7/365 availability of data;
Business Efficiency – by enabling information workers to access content data quickly and easily, with less time spent on searching for information and more time spent on core business activities. Safe, secure documents sharing with business users, business partners and customers
Content Management Modernization and System of Records in the Insurance industry
- Nationale-Nederlanden is one of the largest insurance and asset management companies in the Netherlands and in Europe
- Insurance has seen a significant rise in the use of digital evidence for insurance claims
- New on-line services mean companies must adapt quickly to survive
- All data is subject to GDPR compliance
Challenge
Several aged enterprise content management platforms (IBM Content Manager, Unisys Infoimage, Alfresco)
Disparate content sources: challenges of managing islands of information spread across different repositories and line of business applications;
GDPR compliance and unified information governance
Solution
Content Modernization – Replacing several legacy ECM platforms with SEAL – a next-gen content management and automation platform; Content and metadata migration to SEAL, using SEAL Migrator.
Content Consolidation – Unified, compliant content repository (SEAL) integrated with the core enterprise systems (including customer portal, customer communication management, Salesforce).
Improved Governance and Regulatory Compliance with a special focus on GDPR
Benefits
Cost Savings – multi-million euro savings and a 200% ROI
Cost prediction: transparent and predicted pay-per-use cost model
Operational efficiency: unified content repository and 24/7/365 availability of data
Business Efficiency – by enabling information workers to access content data quickly and easily, with less time spent on searching for information and more time spent on core business activities.
Reduced Risks – Several legacy content management platforms were replaced by a modern, unified content management and automation platform.
Better Data Governance – By centralizing unstructured content in the unified repository, businesses improved their data governance practices.
Security: ISO 27001/SOC II accreditations / audits and processes, ISMS transparency and full suite of Security Services and Controls
Business is no longer located in your corporate office, so why should your business documents be? You have the freedom to choose your ideal delivery model. Available both as a perpetual license for On Premises deployment as well as an On Demand cloud based delivery, you can choose what’s best for you.
On-Premises (local install)
If you would like to purchase the licenses andsimply install them on your hardware, we are here to help, contact us for your special quote.
On-Demand (EU Cloud)
Choose SEAL delivered from our European Data Center located in Bucharest, RO and have local performance and data stored in EU.
On-Demand (Global Cloud)
Choose SEAL delivered from Microsoft Azure and have global reach and multi-site distributed data centers around the world.
