‘Trick Out’ Your Core With ECM

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Core banking providers have been taking over the headlines lately. It reminds me of how the geniuses at Cornerstone Advisors effectively used pop culture to urge financial institutions to overhaul their cores in their infamous “Pimp My Core” GonzoBanker article.

For those of you who gave up on MTV when it stopped playing videos, “Pimp My Ride” was a show that would, during each episode, take a car in poor condition, restore it and customize it. Really trick it out, so to speak.

With document management – also called enterprise content management (ECM) – you can do much the same with your core.

To remain competitive and provide better member service, you need to enhance your core processing system with instant access to documents and information. This is at the heart of what document management does from a transactional content processing perspective.

When it comes to “tricking out your core” and selecting the right ancillary applications for your organization – document imaging, electronic workflow, electronic signatures, etc. – the focus should be on efficiency and execution.

Make information flow through your organization
The lifeblood of every financial institution is its information. Using a document management system gives you one single reference point to consult across departments, locations and processes. This makes it easier and more satisfying for customers and members to do business with you, because information is instantly available to employees from a central location with a few mouse-clicks.

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