Financial institutions achieve operational efficiency through technology
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Financial institutions can minimize expenses and improve their cycle-times by implementing technology solutions such as e-signature and remote deposit capture.
The Life Insurance Direct Marketing Association offers insurance providers several technology solutions, including enhanced "part 2" data collection, e-delivery and e-signature, which can reduce the time it takes for the consumer to initiate a new policy and the carrier to deliver it by processing it online instead of by paper mail.
LIDMA recently recognized the recipients of its Seal of Approval, which are companies that have successfully integrated new technologies and processes that will minimize customer costs and boost customer service, Pat Wedeking, president of LIDMA, said in a statement.
"The efforts of these companies have not just improved their own operations, but as early adopters, they have set the standard for others to follow," added Wedeking.
Financial institutions can also use technology to achieve operational efficiency in their accounts receivables processes. VSoft, a process improvement technology provider, recently began supplying Union Bank with its remote deposit capture solution. Michael Anderson, senior VP and manager of product management and development for Union Bank said that remote deposit, which the institution began offering in 2006, is an important strategic initiative that betters the bank's national presence.
Financial institutions achieve operational efficiency through technology
The Life Insurance Direct Marketing Association offers insurance providers several technology solutions, including enhanced "part 2" data collection, e-delivery and e-signature, which can reduce the time it takes for the consumer to initiate a new policy and the carrier to deliver it by processing it online instead of by paper mail.
LIDMA recently recognized the recipients of its Seal of Approval, which are companies that have successfully integrated new technologies and processes that will minimize customer costs and boost customer service, Pat Wedeking, president of LIDMA, said in a statement.
"The efforts of these companies have not just improved their own operations, but as early adopters, they have set the standard for others to follow," added Wedeking.
Financial institutions can also use technology to achieve operational efficiency in their accounts receivables processes. VSoft, a process improvement technology provider, recently began supplying Union Bank with its remote deposit capture solution. Michael Anderson, senior VP and manager of product management and development for Union Bank said that remote deposit, which the institution began offering in 2006, is an important strategic initiative that betters the bank's national presence.
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