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.
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 scanning software is the interface that allows a computer user to communicate information to a scanner, which then converts a paper document into an electronic image.

Scanners are sold with document scanning software, which must be installed to operate the equipment correctly. Software bundled with a scanner allows users to specify preferences, including:

  • resolution quality
  • color, black and white, or grayscale scan mode
  • single page versus duplex scanning

Third-party imaging systems, such as AccuAccount, provide built-in features that enhance the use of scanning technology.

Types of Document Scanning Software

Document scanning software can be classified into several categories, based on the vendor and the product’s capabilities. Original equipment manufacturer (OEM) software performs the basic functionality that enables the conversion of a document into a digital file. However, because the document scanning software bundled with scanners is often limited, some users seek out other types of software to enhance both the scanning experience and management of electronic documents. That’s where a tool like AccuAccount comes in handy. In addition, there are other types of document scanning software that provide additional functionality, such as the ability to take advantage of optical character recognition (OCR).

Document Scanning Software in the Banking Industry

Financial institutions generate a lot of documents, which is why document scanning software is vital for increasing efficiency and reducing the amount of archival space needed for paper files.

OEM software is rarely sufficient to provide adequate levels of efficiency, which is why many banks and credit unions go one step further and use third-party scanning and imaging software. For example, AccuAccount contains a suite of scanning software tools for financial institutions to elevate efficiency while reducing paper:

  • AccuPrint – Virtual printer that can “print” an email or other electronic document as a digital image into AccuAccount. The software also tags the document by owner and type and allows the user to choose the customer/member, account, or document tab in which to file it within AccuAccount.
  • AccuImg – Desktop scanning software that allows a document imaging technician to create an electronic image of a single document, barcoded documents, and batch scanning without barcodes on a desktop scanner.
  • AccuCapture – Works with a multifunction device scanner, using barcodes to automatically direct the placement of scanned documents within the correct file in the banking management system.

Imaging & Scanning Resources

Looking for more information on how to streamline your document scanning and imaging workflows? Be sure to check out our extensive resource library with free spreadsheets, whitepapers, and eBooks.

Browse our banking definitions page for more terminology.

Explore more resources

Exception Tracking Cost Calculator

Exception tracking has many moving parts—from notice generation to recordkeeping and reporting. How much does it cost your financial institution each year? Find out with Alogent’s free calculator.
Read More »

Related articles

Wednesday 27 September 2023

How to Enable Better Experiences for Multiple Stakeholders with Streamlined Document Management

Document management is often considered a “back-office” function that minimally impacts a financial institution’s key business objectives. In reality, streamlined document management can play a…

Learn More »

Tuesday 19 September 2023

From Data to Results: The Role of Personalization in Your Digital Banking Platform

One powerful strategy to enhance the user experience and drive engagement on digital platforms is through built-in contextual marketing. In the world of digital banking…

Learn More »

Wednesday 6 September 2023

[Playbook] Efficiently Managing To-Dos with Task Exceptions

Your financial institution is growing—more branches, more team members, more loan and account holders, and more follow-up. To keep pace with this complexity, you need…

Learn More »

Monday 28 August 2023

Exception Tracking: Is Now the Right Time to Upgrade Your Workflow?

Documentation and follow-up tasks for financial institutions to manage is commonplace—especially for banks and credit unions involved in commercial lending. Proactively tracking missing and expired…

Learn More »

Thursday 17 August 2023

[Playbook] Tracking and Resolving Recurring Document Exceptions

Proactively dealing with missing and expiring documents is a key component of an effective exception management strategy. However, that’s easier said than done when your…

Learn More »

Wednesday 9 August 2023

Six Steps to Maximize Your Financial Institution’s Digital Transformation Journey within the Digital Banking Channel

In today's rapidly evolving digital banking market, digital transformation and the adoption of cutting-edge, scalable solutions has become a necessity for banks and credit unions…

Learn More »

Tuesday 1 August 2023

Check Volumes are Declining, But Check Fraud is Rising: What’s it Costing your Financial Institution?

No financial institution – large or small – is protected from transaction or check fraud. And, the difficult reality for institutions is that fraud can…

Learn More »

Wednesday 26 July 2023

Boost Productivity at your Financial Institution with Enhanced Cold Storage

Cold storage systems can support numerous use cases at banks and credit unions. The phrase “cold storage” can be used to describe technology that manages…

Learn More »