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.
ACH (Automated Clearing House) is an electronic payment network that enables banks, credit unions, businesses, and consumers to securely send and receive funds between accounts for transactions such as direct deposit, bill payments, recurring payments, and account transfers.
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.
Agentic AI refers to artificial intelligence systems that can autonomously plan, reason, make decisions, and take action to achieve specific goals with limited human intervention.
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.

Person-Centric ECM Software

A person-centric approach to enterprise content management enables financial institutions to create a banking environment that treats account holders as unique individuals. This modern strategy not only allows banks and credit unions to deliver more personalized services but also provides a deeper understanding of each person’s banking history, both current and past, for improved decision-making and risk mitigation.

In content management, person-centric solutions leverage advanced analytics and intelligent capabilities to consolidate all relevant IDs, collateral, and accounts into a unified view. This approach streamlines the process for employees, empowering them to offer personalized service, enhance customer satisfaction, and foster long-term loyalty.

Use Case Example

Bradley Pittman visits a branch of your financial institution to make a deposit into his personal checking account. Using a person-centric solution, the teller quickly retrieves Bradley's profile by entering his name. All relevant details appear in a single dashboard, including Bradley's multiple member/customer IDs, personal checking and savings accounts, business account information, and details about his auto and home loans.

While processing the deposit, the teller notices that Bradley does not have a credit card account with the institution. Given his strong banking relationship and the fact that all his accounts are in good standing, the teller recognizes him as a prime candidate for a credit card offer. The teller informs Bradley about a current credit card promotion, and Bradley decides to apply on the spot.

Learn more about Alogent’s ECM solution suite and its person-centric approach

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