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.

Event-Driven Workflows

When it comes to ECM (enterprise content management) technology, an event-driven workflow automates downstream processes based on the occurrence of certain actions. Leveraging event-driven workflows supports cross-functional efficiency and scalable operations for banks and credit unions.

Event-Driven Workflow Example in Banking

Given the variety of document-related processes in banking, event-driven workflows could be utilized across a seemingly endless number of ways. One simple example, as outlined in Alogent’s FASTdocs industry paper, involves reviewing Suspicious Activity Reports (SAR):

  1. Document Added to Folder: A suspicious activity report is placed into the correct folder within the financial institution’s ECM. In this example, adding the SAR would be considered the initiating “event” in the workflow.
  2. Email Notification Sent: The ECM recognizes that a SAR has been added and distributes an email to the appropriate manager for review.
  3. Action Taken by Manager: Clicking through the email takes the manager to the new suspicious activity report. Once the item has been reviewed, the workflow is complete.

Benefits of Event-Driven Workflows

Compared to traditional checklists, event-driven workflows present multiple opportunities for banks and credit unions.

  • Enhanced Efficiency: Automation makes it possible to move beyond simply verifying that a document has been added to the system. Using technology to predictably route documents and notify users of required actions allows employees to focus on more important matters.
  • Reduced Oversights: Managing hundreds or thousands of documents and related workflows can be incredibly tedious, even with effective exception tracking methodologies. Implementing event-driven workflows lessens the administrative burden for staff, thereby reducing reliance on manual data entry in spreadsheets.
  • Repeatable Processes: With the right ECM software, financial institutions can realize business processes that scale with their ever-changing document volumes. Programming operational logic into software—instead of asking staff to work even harder—accelerates continuous improvement in a competitive banking environment.

Visit Alogent’s Innovation Hub to access articles, videos, eBooks, and definitions for bankers. Explore our ECM solutions for financial institutions, including customizable workflow capabilities in FASTdocs.

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