Document Audit Logging
Document audit logging involves the systematic tracking of historical information through each document’s lifecycle. In banking, effective document audit logging is important for risk management, compliance, operations, training, and delivering person-centric experiences.
Using Technology to Track Document Changes
Maintaining a detailed log of document-specific activity is challenging in a paper-based environment. Simply tracking loan file and record movement between team members and branches involves considerable administrative effort, leaving less bandwidth for monitoring document-specific changes.
Modern technology opens the door to enhanced document audit logging, allowing financial institutions to move beyond traditional file management practices. Document imaging software should ideally monitor material changes at the document level and make it easy to quickly understand:
- Actions Taken, such as the addition of pages, deletion of pages, renaming documents, or removing documents from a file
- Dates and Times of changes that were made to specific documents
- Document Names, such as a loan application, financial statement, or tax return
- People and Businesses who are associated with documents, such as a commercial borrower or deposit account holder.
- Names of Staff who made changes in the system.
Document Audit Logging in Action
AccuAccount, Alogent’s ECM solution that’s optimized for commercial lending, offers built-in document audit logging capabilities for banks and credit unions. With AccuAccount, banks and credit unions can reduce administrative effort while increasing visibility into:
- How documents were added to the system (import, upload, etc.)
- Current and previous names for renamed documents
- Date and time stamps for purged documents
- Comments that explain why a team member changed a document
Contact Alogent for a demo of our document audit logging features. Visit Innovation Hub for links to downloadable resources and more definitions for bankers.
