Genesis Banking Selected By African Bank For Bank Imaging

We are pleased to announce that the Bank of Namibia in Africa has awarded us with a contract to provide their operations team with document imaging software.  Genesis Banking was selected for its simplified, modular approach to bank document management.  We are excited to expand our reach into the African market.  This continues to be a strategic niche for us.  To read the original press release, issued by AccuSystems, please visit:

http://www.accusystem.com/news

Loan Document Imaging Webinar Today - June, 29, 2011

Genesis Banking would like to invite you to a free webinar today that is being sponsored by AccuSystems, LLC.  The webinar will cover a few important tips that banks should know about when evaluating commercial loan document imaging platforms.  This is a great event for community and regional banks to attend.  Representatives from AccuSystems and Genesis Banking will be on the call to answer your questions relating to bank document imaging.  Register now, as the event is less than 3 hours away!

https://www3.gotomeeting.com/register/223651246

Community Bank Software - More Than Just Check Imaging

Traditionally, community bank software has been limited in functionality and is typically focused on check imaging features.  Although check imaging remains an extremely important technology for community banks, financial institutions of all sizes are beginning to see the full potential of bank document imaging.  Leveraging the "paperless" mentality for comprehensive bank operations management continues to be a novel idea among community banks.  Thanks to advancements in software delivery, even the smallest of community banks are now able to realize the impact of optimized bank workflow through comprehensive community bank software.

With the significant recent changes to the banking industry, surveys among banks, auditors, and regulators continue to show that bank loan software is the next major investment that community banks are planning. After implementing community bank software with bank imaging features, your bank can reduce reliance on loan files, streamline exception tracking, and automate formerly manual tickler systems.  Also, the community bank software that your bank selects should provide the tools to help manage operational functions such as banking human resources, trust departments, deposit tracking, audit preparation, regulatory compliance, accounts payable and email approval. 

In summary, when evaluating community bank software, your community bank should certainly expect more than a simple check imaging solution.  At a minimum, the platform should include streamlined bank imaging and integrate with your bank's operational department needs.  By streamlining your bank operations management through a bank document imaging system, your community bank can improve economies of scale, reduce overall risk, and improve banking compliance efforts.  Before getting started, it is always wise to do a brief internal review of your bank's existing processes for managing loan files and other bank documents.  By looking at your existing bank workflow before evaluating banking software companies, it will certainly make shopping for community bank software much simpler.

What is Paperless Document Imaging?

More community banks than ever are making the switch from paper loan files to an electronic document imaging system.  With an electronic “file room”, all credit and loan documents are scanned into an electronic “document repository”.  (In many cases, these electronic archives are set up to mirror the traditional paper file format that banks have used for decades.)  The scanned images are then stored within the electronic repository in open architecture format and can be synchronized with the bank’s existing core system.

There are literally hundreds of companies that offer generic document imaging systems.  However, the most basic electronic repositories are not designed to the specific needs of community banks.  In addition, such generic systems usually do not lend themselves well to loan document imaging.  Loan portfolio management is quite specialized and requires a user-friendly interface that is easily operated by all employees within a community bank.

Presently, bank-specific repositories are offered by bank core providers as well as by third parties, such as Genesis Banking.  Key features to look for in a bank document imaging system include:

·      User-friendly software

·      Integrates with your existing core system

·      Manages multiple/cross collateral loans

·      Organizes related entities and multiple guarantors

·      Offers advanced security features

There are many advantages of installing document imaging software at a community bank. Such systems have been shown to save banks money, time, and reduce risk of information loss.  Instead of shuffling through cabinets and drawers for information, electronic documents are available at the time they are needed.  Since the documents are immediately scanned after booking the loan, they are much less likely to be missing or lost.  In addition to managing loans, bank document imaging systems can be used to manage bank function such as:  deposits, trusts, accounts payable, human resources, contracts, and more.