Business Process Automation for Financial Services 13 Nov 2013 Mike Mahon, President & CEO, Zia Consulting
Agenda Financial Services Business Problem Zia Case Study Solution Detail Closing
>50% Process efficiency Cost savings Increased Revenue Compliance & Regulation Loan origination Claims processing Insurance Application Mailroom automation Mortgage Processing Portfolio Management Mobile Application Loan origination Claims processing Insurance Application Mailroom automation Mortgage Processing Portfolio Management Mobile Application Financial Services Business Problem
Financial Landscape Simple + Smart? Consumer Docs Collaboration & Workflow Compliance & Business Intelligence Intelligent Classification & Extraction
Online Mobile / Remote Paper loan application Borrower delivered Borrower upload w2, 1040, ID, Paystubs, Bank Statements supporting documents HUD-1, GFE, TIL eSign or Paper closing documents Secondary Market (Wholesale) Mortgage Insurance post closing The (Simplified) Loan Lifecycle LOS
Online Mobile / Remote Paper Fax application Consumer delivered LI Agent upload supporting documents Medical Docs eSign or Paper App Approval Regulatory Submission Audit Compliance Review Post Approval The (Simplified) Life Insurance Lifecycle IMS
Zia Consulting Case Study
Origination Requirements: Consumer Docs Automate Classification & Validation Loan Folder Upload from any source Automated Doc Approval
Business Goal: Drive New Business with Web Portal
Problem: Ski past your Tips Consumer Doc Validation
The Results = Smart Less Time and People to Validate New Documents are easily trainable Classification, Extraction & Validation are automatic Secure Collaboration saves Access by Role, Function & Level Annotations visible or not CRUD level access Upgrades Much Easier Financial Business is Complicated, Upgrade what you need to when you need to
How: Intelligent Document Capture
Or: Extraction as a Service (EAAS) In Process Capture
Origination Underwriting Requirements Instant Access to Docs Annotate Docs Secure Collaboration Eliminate Manual Entry Integration with LOS & Compliance
Alfresco is the Content Hub
Underwriting: Annotation & Collaboration
Workflow: Refresh Old Business Processes
The Results – Simple + Smart No Training Required Only 3 min videos Tools That Work The Way I Do Office Tools (Word & Adobe) Loan or Application Folder Rules & Behaviors Process Without Workflow Heavy Lifting Behind The Scenes
Closing: Requirements Reduce Time to Review and Validate Closing Documents by 50% Eliminate Manual Entry Eliminate Manual Steps (upload to retention system)
Differentiator: ACE Classification of Hundreds of Docs Several States Extraction for Most Critical Docs HUD-1 (1600 Fields extracted) TIL GFE Tested with Millions of Closing Packages
Oh Yeah: Governance & Content Mgmt MS Office & Google Docs Integration Online Preview Version History & Automated Filing
Post Close: Requirements Analyze Process Efficiency Easy Access to Docs Integration Hidden Rules
Process Efficiency: Zia OneView TM Analyze & Measure
Loan Performance: Zia OneView TM Analyze & Measure
Hidden Rules: Insurance Docs Signed Audits Triggered
What’s Next: Records Management Simple Records Filing In-Place Retention Automated Declaration
Hybrid Cloud
The Business Results Time Saved – 50% Efficiency Projects kicked started and tracked in a timely way Institutionalization & Internalization Simple, Effective and Smart Upgrade when you want and need to, not when forced to Reuse existing investments and still gain efficiencies Smart + Simple Project Security needs met without sacrificing ease Tools that Work Like People Do Scan, , Fax, Easy Search
Key benefits for the business Improve efficiency Get back control Save money Short time to value
More Zia presentations Mobile Workdesk Jumpstart Wed, 3pm Cape Cod A CMIS Shell for Developers: Thurs, 10:50pm Martha’s Vineyard A Capturing Your Content: Alfresco & Ephesoft Web Services Thurs, 1:40pm Martha’s Vineyard A Going Paperless at Edmonton Public Schools & Church Pension Group Thurs, 3:50pm Duxbury
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