Here’s the situation: Your financial institution is looking for a secure, convenient way to share documents with account holders. You’ve heard that FASTdocs can integrate with your digital banking system and enable a permission-based, self-service experience. This playbook article explores tips for leveraging FASTdocs WebShare to simplify collaboration with customers and members.
Play #1: Providing Documents to Account Holders
Financial institutions must routinely share certain documents with customers or members. Monthly account statements and annual tax forms (i.e. IRS Form 1099-INT) are common examples. Traditionally, such documents were sent through the United States Postal Service (USPS), but widespread adoption of electronic communication has increased demand for digital access. Here’s how connecting FASTdocs to your digital banking platform via API or SSO can streamline the process.
Here’s the Game Plan
Step 1: Documents originating from your core, statement provider, and other third parties flow into FASTdocs via File Import Studio, Alogent’s solution that automates importing and indexing. Documents are classified and stored in the correct folder for each account holder.
Step 2: Documents saved to a WebShare enabled folder in FASTdocs become instantly accessible to account holders via online or mobile banking.
Play #2: Requesting and Collecting Documents from Account Holders
Sometimes banks and credit unions need to collect account holder documentation, such as updated financial statements or forms of personal identification. Enabling a two-way document exchange with FASTdocs is helpful here, too.
Here’s the Game Plan
Step 1: FASTdocs initiates a workflow based on the document’s approaching expiration date. Notifications inform relevant stakeholders about the need for updated information.
Step 2: An employee logs into FASTdocs and initiates the document request, prompting the account holder to take action.
Step 3: Staff are notified when the account holder uploads the requested document(s) to digital banking. Uploaded documents are saved in a quarantine folder for review, validation, and approval. Virus scans can also be performed to mitigate risk.
Step 4: Approved documents are automatically saved into the correct folder in FASTdocs, making the information accessible to staff and the account holder.
Make Self-Service a Reality with FASTdocs
Achieve a bi-directional document exchange with FASTdocs WebShare. Streamline the flow of information into your financial institution and make life easier for account holders.
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