Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
Account-centric enterprise content management solutions allow users to access account holder information based on their account numbers.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
API is short for “application programming interface.” Technology companies like Alogent rely on APIs to connect multiple software applications, thereby enabling a two-way exchange of information to support users’ needs.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Document Centric ECM Software

Document-centric enterprise content management solutions organize content by document type, simplifying the imaging process for administrators. For example, a financial institution might store commercial loan documents in one location and collateral documents in another. This system makes it easier for employees to scan or upload documents to the correct place. However, retrieving information can be cumbersome. To fully understand a commercial relationship, a lender might have to search multiple locations to find a borrower’s financial statements, loan agreement, and collateral records, leading to extra clicks and longer wait times for customers or members.

Document-centric enterprise content management (ECM) solutions solve this by categorizing and storing content in a way that makes it easily accessible. Loan documents, credit records, and collateral are grouped by type, allowing employees to search by collateral category and quickly access all related account holder information. For instance, a search for auto loan collateral will pull up all customers with auto loans at the institution, helping employees narrow down their search to the right account holder more efficiently. This approach minimizes search time and improves overall productivity.

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