Compliance/Financial Case Study

Case Study

The Company was looking for an easy to use and easy to deploy Content Management Application with Workflow. They chose On-Line Imaging, Inc. to implement the FileBound System to onboard new accounts and verify that all required documentation is compiled, reviewed and approved to meet compliance mandates.

Customer Profile

Customer is a 45-year old Financial Services firm with 10 offices in major cities around the country. They provide Planning, Investing and Trading Services as well as services for Employee Stock plans and retirement Benefits.

Business Challenge

Customer was spending many man hours tracking down and administering the required forms for opening of new accounts. If any activity or trading was occurred on an account without the proper documents, the company was exposed to risk of litigation and compliance issues. The system needed to work across multiple locations and provide approval and review capabilities. Additionally, information needed to be handled and stored in such a way to meet Compliance Regulations including SSAE16 Type II Certification.

Workflow provides the necessary audit trail of the approval process. FileBound logs all activity related to documents so auditors know who viewed, printed, emailed, deleted, etc. a document

Solution

On-Line Imaging implemented FileBound the Content Management Cloud Solution. The paperwork for new accounts opened at each location was scanned into FileBound using a multifunction device (or copier). Upon entering FileBound, the new files were routed to a manager for compliance review and approval. Once approved, client could conduct business. Customer was happy that the FileBound Cloud Solution conducted a SSAE16 Audit each year and met all compliance parameters.

Benefits

Customer is confident that the New Account process is able to adhere to strict compliance standards and is uniform across multiple locations. The process includes workflow that routes documents to the compliance manager. Workflow provides the necessary audit trail of the approval process. FileBound logs all activity related to documents so auditors know who viewed, printed, emailed, deleted, etc. a document. Documents are stored in a Cloud Environment that is secure and compliant.

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The Company requires a system that works across multiple locations and provides approval and review capabilities. The solution must handle and store information to meet Compliance Regulations including SSAE16 Type II Certification.

Industry:

Financial

Solution:

FileBound Cloud-based Content Mangement