Banking and Finance use case

Banking and Financial Cloud Based Document Storage

Banking, financial services and insurance (BFSI) companies have to adhere to strict regulatory protocols when it comes to preserving and managing customer records. Typical retention periods range from  7 to 10 years for records such as account opening applications, vouchers and claims documents. EisenVault’s facilities meet all RBI norms, and we provide industry grade encryption on our electronic storage solutions to ensure that your sensitive documents are well protected.

The following is a typical workflow that EisenVault would help you implement:

  1. New KYC forms arrive at your regional processing hub
  2. Operations executive scans a KYC form into a TIFF image
  3. Operations executive uploads the TIFF image into the EisenVault DMS
  4. The EisenVault DMS automatically recognises that the image is a KYC Form
  5. The operations executive sees a screen with auto-populated information extracted from the uploaded form:
    • Form number
    • Customer name
    • Customer date of birth
    • Other relevant fields that we setup in consultation with you
  6. The operations executive approves the auto-populated fields and presses ‘submit’
  7. The TIFF image is converted into a searchable PDF, and any typed/printed English language text will be searchable within the DMS later on
  8. The searchable PDF is automatically stored in the appropriate folder on the DMS
  9. An appropriate workflow is started and an alert is sent to the Bank’s central processing hub that a new KYC document is now available for review and processing
  10. The operations executive proceeds to scan the next KYC form

EisenVault can also help with scanning, storage and management of physical documents and files.