WHITE PAPER WHAT IF YOU COULD STREAMLINE TREASURY ONBOARDING BY CHANGING JUST ONE THING? 2013 WAUSAU FINANCIAL SYSTEMS, INC. All Rights Reserved. All other copyrights cited herein are the property of their respective owners.
TABLE OF CONTENTS 3 Executive Summary 4 The Complexities of Treasury Onboarding 6 Corporations Are Not Satisfied 7 Paper-Centric Processes are the Root of the Problem 8 New Ways of Conducting Business 9 Using Tablets for Onboarding 11 Going Paperless in Treasury Accelerates Revenue 12 Building a Business Case for Paperless Treasury 15 Now is the Time to Act 15 Arrange for a Private Consultation with WAUSAU 15 About WAUSAU Financial Systems 16 Appendix COMPANY CONFIDENTIAL Wausau Financial Systems, Inc. Proprietary This document contains confidential and proprietary information of WAUSAU, and is not to be copied, disclosed or distributed, except to employees of the recipient with a job-related need to review this document. By accepting this document, the recipient agrees to take all reasonable steps to ensure that this confidential and proprietary information will not be disclosed to any third parties, in whole or in part, without the prior written permission of WAUSAU. PAGE 2
EXECUTIVE SUMMARY Treasury Management (TM) is one of the most complex operations in any financial institution, requiring multiple approval layers, paper-intensive documentation and disparate onboarding procedures. To better understand the complexities and inefficiencies associated with treasury onboarding, WAUSAU Financial Systems commissioned a study with Treasury Strategies, Inc. that not only got to the root of treasury management onboarding challenges but revealed a number of ways banks can streamline the process. Data presented in this white paper has been summarized from the Treasury Strategies survey. Representatives from 39 organizations completed the survey. The survey revealed thought-provoking findings that call attention to four significant points: 1. Corporations feel there s room for improvement in their bank s TM onboarding process. Smaller corporations are less satisfied with the time it takes to implement a new service. The more complex the service, the less satisfied corporations are with the process. 2. Paper-centric processes are the root of the problem in TM onboarding. The most frequent pain point experienced by banks is the delays caused by the use of paper. 3. Banks and corporations are receptive to new ways of conducting business. Eighty percent of large banks and over 50 percent of smaller banks would use an ipad/tablet application to gather data and signatures from the customer if they could. Over 75 percent of corporations prefer electronic documents to paper-based and over 50 percent of them believe the use of an ipad or tablet device would improve their overall satisfaction with the implementation process. 4. Going paperless in Treasury can have a major impact on accelerating revenue. Ninety percent of banks believe they can accelerate revenue by shortening their implementation cycle time. Seventy percent of banks surveyed believe improving the onboarding process will free up their sales force to generate more sales On a scale from 1-5 (5 = very strong impact, 1 = little impact) corporations rated the TM onboarding process a 4+ as having a substantial impact on the initial sale as well as impacting their future buying behavior. Version 1.0 2013 WAUSAU What If You Could Streamline Treasury On-Boarding by Changing Just One Thing? PAGE 3
THE COMPLEXITIES OF TREASURY ONBOARDING There s a lot riding on how smoothly banks onboard treasury management clients. To better understand the challenges associated with onboarding treasury management clients, WAUSAU Financial Systems commissioned Treasury Strategies, Inc., to conduct a survey of both banks and corporations. The survey also looked at potential ways for banks to streamline the process, and the level of interest among banks and businesses in automated solutions for implementation. The survey was completed by 39 organizations: Representatives from 19 banks, most with assets between $5 billion and $25 billion, responded to the survey. The majority of survey respondents from banks identified themselves as implementations experts. Representatives from 20 companies also completed the survey, most with revenues of $500 million to $10 billion. The majority of respondents from corporate clients identified themselves as treasury managers. The survey found that corporations have high expectations of their banks with regards to treasury management onboarding, and the effectiveness of the implementation process has a substantial impact on a corporation s satisfaction level. Implementation effectiveness also impacts future buying behavior. Yet, most financial institutions depend on slow and inefficient paper-based processes for onboarding treasury clients. Treasury management onboarding can be a complex, lengthy and paper-driven process for both banks and their customers. Many of the challenges with current onboarding processes are driven by antiquated paper processes that result in processing delays and miscommunication. These antiquated paper processes result in long cycle times, keying and filing errors, and internal and external miscommunication. See the graphic on the next page that shows the traditional treasury management onboarding process: PAGE 4
Traditional Treasury Process MANUAL ON-BOARDING COMPLEX FULFILLMENT PROCESS COMMON CHALLENGES C A B D E Time-consuming Manual Entry Introduces More Error Extensive Paperwork and Multiple Copies F G Difficult to Track and Control Go-Live Date Jeopardized Lower Revenue Goals Treasury management is one of the most complex operations in any financial institution, requiring multiple approval layers, paper-intensive documentation and disparate on-boarding procedures. Often salespeople have to make multiple photocopies or follow an extensive checklist to route paperwork to implementation teams for ACH, lockbox, remote deposit, wires or other services. This time-consuming process is prone to errors and often employs manual tracking methods to ensure that all services are accurately ready by the delivery date. A B C D E F G Sales rep prepares for customer meeting by printing and copying all of the agreements required for the new services that will be implemented. Sales rep meets with customer to get agreements signed, but realizes one was forgotten back at the office. Meeting is rescheduled. Sales rep completes all required paperwork and sends over to Implementation. Forms are faxed, mailed, scanned or emailed to various areas within Operations (Ops) for implementation. Weeks go by and customer inquires on the status of the new services. Head of implementation tries to manually track where in the process the forms are at. Treasury personnel ensures all documents are signed and accounted for. The process involves manual data entry. Go-live date arrives and team realizes an implementation form never made it to one area of Ops. Ops claims no record of it. Go-live date is pushed back. In the boardroom there s concern the department won t meet its numbers for the quarter. Moreover, how will the team hit their revenue goal for the year with such a paper-intensive process? and time-consuming, delaying time-to-revenue. requires manual entry of the same data multiple times, introducing opportunity for error and wasting sales rep s time. it s not uncommon for clients to have to sign dozens of pages in order to buy multiple services. causing issues with the audit process. collaborate on agreements, ultimately jeopardizing go-live dates. paperwork rather than on the client. Small banks, in particular, are struggling with the implementation process. Overwhelmingly, the banks surveyed by Treasury Strategies see an opportunity to streamline the treasury management implementation process. Some technology is in place today for onboarding treasury management clients, but there are gaps. Moreover, banks are not delivering fully against the high expectations of their customers. Banks and corporations are looking for better technology and tools for treasury management implementations. Fortunately, paperless treasury implementations exist that combine capabilities for document origination, document imaging, automated workflow and a bank s existing systems and processes to wring inefficient paper-driven tasks from the treasury onboarding process. Paperless treasury solutions remove much of the complexity and cost from the traditional onboarding process, speed service delivery (and, in turn, time-to-revenue), and free sales teams to focus less on paperwork and more on improving the customer experience and generating revenue. They also eliminate the miscommunication that customers identify as a top implementation pain point. These tools will revolutionize the onboarding process, yielding benefits for banks and their clients. PAGE 5
CORPORATIONS ARE NOT SATISFIED Banks believe their treasury customers are satisfied, but their customers feel there s room for improvement. Although banks surveyed perceived their customers as being either satisfied or very satisfied in regard to their implementation services, corporations feel there s room for improvement in their bank s onboarding process. The survey showed that smaller corporations are less satisfied with the time it takes to implement a new service than their larger counterparts. However, the more complex the service, the less satisfied large and small corporations are with the process. Survey respondents noted that the most painful treasury management solutions to implement are retail and retail wholesale lockbox, which generally have longer implementation cycle times. For example, survey respondents from large banks said that their average implementation time for retail lockbox was a stout 45 days! (Figure 1) What is your average implementation cycle time (number of days from sale of solution until solution is live) for the following treasury management products? FIGURE 1 Survey results showed that corporations have high expectations of their banks in regard to a TM service implementation process. From achieving an on-time implementation, to clarifying roles and responsibilities, to utilizing mobile devices like ipads to gather data and signatures; everything seems to have a substantial impact on their satisfaction level. Companies surveyed by Treasury Strategies said their greatest pain points with regards to treasury implementations are bank deficiencies rather than internal issues. Lack of timely communication, poor visibility into the implementation status, too many paper-based forms, redundant information requests from their bank and too lengthy of an implementation process are just a few of the issues that corporations state they are experiencing regularly. In fact, when asked how often they are experiencing these pain points (5=very often, 1=not often at all), corporations rated every one of them 3 or above. (Figure 2) PAGE 6
How often do you experience the following pain points? FIGURE 2 For corporate respondents, issues seem to be the norm, not the exception. One survey respondent commented, Sales oversells; implementation under delivers. Both large and small companies indicated, on average, that accuracy of the information in the implementation process has the greatest impact on satisfaction. On-time implementation, ease or convenience of process, and internal costs/personnel time were other top drivers of satisfaction. In addition to satisfaction level, a bank s implementation services also have a strong impact on a corporation s buying behavior. Larger companies rate the impact significantly higher than small companies. That may be attributable, in part, to the fact that larger companies experience treasury management service implementation pain points more often than smaller companies, according to Treasury Strategies. Room for improvement? Definitely. PAPER-CENTRIC PROCESSES ARE THE ROOT OF THE PROBLEM Paper remains the root of the problem in treasury management implementation. The Treasury Strategies study found that banks of all sizes agree that the use of paper in implementations is the top pain point in onboarding treasury customers. In a paper-driven implementation environment, salespeople must manually create service agreements for each treasury product that they sell. If a prospect requests a minor change to the agreement, the salesperson typically has to create a new document and schedule another trip for the contract signing. Sometimes, red-lined agreements are faxed back and forth between the bank and the prospect. All of this paper creates a number of pain points in the treasury implementation process. The most frequently experienced pain points cited by large banks surveyed by Treasury Strategies were delays caused by use of paper. PAGE 7
The volume of paper in treasury management services implementations is complicated by the largely manual processes that banks use for the task. Some technology is in place for onboarding, but there are significant gaps. On average, large banks use more sophisticated tools for implementing treasury management services. For instance, all of the large banks surveyed by Treasury Strategies use an automated workflow to support treasury management implementation. But other technologies are not nearly as prevalent in treasury management implementations. Among small banks, only 57 percent use an automated workflow for treasury management services implementations, 43 percent use a web-based dashboard or electronic forms for contracts and setup document, and 14 percent use automated implementation progress and risk notifications and alerts. (Figure 3) Which of the following does your bank support when implementing TM services (check all that apply)? FIGURE 3 No bank (large or small) that responded to the Treasury Strategies survey claimed to support electronic signatures or use a tablet application (such as one for an ipad) as part of the treasury implementation process. Paperless Solutions Do Exist Fortunately, automated solutions that eliminate paper from the implementation process do, indeed, exist. These solutions combine electronic document origination, document imaging, automated workflow technology, and a bank s existing processes and forms to streamline treasury management onboarding, the maintenance of new client relationships, and the implementation of client products. Paperless treasury fulfillment solutions complete in hours the tasks which today s paper-reliant processes require multiple days. Similarly, managing documents electronically does away with the need to make multiple trips to the customer, co-workers desks, and copiers, printers and fax machines. Believe it or not, by going paperless, the implementation process can improve by at least 35%. NEW WAYS OF CONDUCTING BUSINESS Larger banks tend to have more sophisticated tools than mid-size banks, but could still benefit from some enhancements to deliver against their customers high expectations. PAGE 8
There is major opportunity for mid-size banks to improve their technology and compete with their larger rivals, since many aren t effectively using what they have today. One survey respondent wrote, Outdated, home-grown platform used today. No workflow capabilities, no doc image integration, virtually zero status reports. Banks and corporations understand they could be doing better on the technology front and are receptive and willing to move toward utilizing better technology and tools, such as mobile devices, workflows, dashboards and paperless technology that will improve the onboarding process and positively change the way banks and their corporate customers interact. Banks are eager for better ways of onboarding treasury management services customers. Among respondents to the Treasury Strategies survey, the highest-rated component of an onboarding solution for large banks is value-added analytics/dashboard, while the highest-rated component for small banks is paperless implementation. Other components of an onboarding solution that scored highly with survey respondents were the ability to leverage the solution in other departments (small banks found this to be much more important than large banks), and support for compliance activities. (Figure 4) If you were to buy a 3rd party implementation solution how would you rate the importance of the following attributes on your decision? (5=very important, 1=not important) FIGURE 4 USING TABLETS FOR ONBOARDING Additionally, large and small banks surveyed by Treasury Strategies overwhelmingly said they would use a tablet or ipad application for onboarding. Even in cases where a bank has a partnership that requires a wet signature, survey respondents indicated they would partially use an application. One bank representative that responded to the Treasury Strategies survey suggested: Present all elements required to fully implement the service up front, as opposed to obtaining the data in pieces. For their part, half of the companies that responded to the survey said the use of a tablet application would improve their satisfaction with the treasury management implementation process. The Treasury Strategies study found that companies, particularly larger ones, see the value of using technologies such as self-service tools, electronic documents and signatures and tablet or ipad applications that will improve the treasury management implementation process. Both large and small companies also view an online dashboard tool for treasury PAGE 9
implementations as valuable. Importantly, most companies view electronic documents and signatures as an acceptable alternative to paper and most said that using a tablet application would improve their overall satisfaction. Using a paperless treasury solution, banks can initiate orders and close the sale immediately with the signing right at the customer s office. Users can originate basic documents on a tablet or transfer complex agreements from the office to a tablet for signing using a stylus. Clients can review documents using the tablet s gestures to zoom or flip through pages. While documents reside on a tablet, they are encrypted to secure sensitive information. The camera on the tablet may be used to capture photos or digital images of documents and attach them to the agreements so that a client s documents always stay together. Workflow technology applies a bank s business rules to determine the approvals required and route documents to multiple departments simultaneously. Related documents, such as the master agreement, are electronically attached to ensure that processors have required information at the ready. The workflow provides automatic status updates via e-mail to sales reps when new client services are approved and implemented. Work can be viewed on a dashboard in real-time so bank staff can be aware of potential bottlenecks. Multiple signatures can be applied to an agreement and sent back to a bank s central operations over a 3G connection or via a VPN connection using Wi-Fi. With a tablet, bank salespeople can go from client-to-client to create new relationships without having to be constantly tethered to the office. Moreover, paperless treasury solutions help banks manage compliance requirements for safeguarding sensitive information by encrypting data and ensuring chain of custody. One bank respondent to the survey noted that, Some issues are coming from the new banking regulations that is making things more complex to establish accounts or services, or even close an account. PAGE 10
GOING PAPERLESS IN TREASURY ACCELERATES REVENUE Banks and their customers agree that improvements to the onboarding process will lead to increased future sales. Adopting a new solution can have major impacts for banks and their customers. Banks see an opportunity to accelerate revenue and free up sales resources by improving their onboarding process and shortening the cycle time. Furthermore, they believe improving it will have a positive impact on their future sales. Bank customers will buy more because they had a good experience the first time. Corporations seem to agree. A. 90% of banks surveyed believe there s significant opportunity to accelerate revenue by shortening their implementation cycle time. (Figure 5) FIGURE 5 B. Seventy percent of banks surveyed believe improving the implementation process will free up their sales force to generate more sales. (Figure 6) FIGURE 6 C. On a scale from 1-5 (5= very strong impact, 1=little impact) corporations rated the TM implementation process a 3.8+ as having a substantial impact on the initial sale as well as impacting their future buying behavior. Implementation, overall, has a larger impact on winning business and future buying decisions for small corporations. Large corporations are more likely to base future buying decisions on how well their initial implementation went. PAGE 11
FIGURE 7 On a scale from 1-5 (5= very strong impact, 1=little impact), how important is implementation to winning business and, what impact does it have on your buying decision? BUILDING A BUSINESS CASE FOR PAPERLESS TREASURY So, how exactly does a bank go about building their business case to implement a paperless treasury solution? Case Study #1 Washington Trust, a $4 billion-asset financial institution with 40 branches and over 750 employees and officers, is one example of a bank that has benefited from eliminating paper from its onboarding processes. Migrating to a paperless treasury solution has enabled the financial institution to achieve: 15% reduction in the time staff spend onboarding clients 40% faster onboarding turnaround Immediate document availability Automated routing of treasury agreements and setup forms Elimination interoffice mail and faxing for Treasury documents The real value in a document management solution is the ability to automate documents and an entire process from start to finish, explains Washington Trust CIO Jim Brockett. Case Study #2 Paperless treasury will certainly be a boon to one of the largest financial institutions in Southeastern United States. The institution plans to deploy paperless treasury to accomplish several treasury objectives: Improve stakeholder visibility throughout the onboarding process Eliminate lost or misplaced treasury forms Increase accountability throughout the sales and onboarding process Improve customer service levels Reduce the amount of paper-based signatures for face-to-face agreements Create a workflow platform that can be leveraged in the future for other processes Feed all documents into the institution s enterprise document archive Reduce manual spreadsheet reporting efforts Streamline audit processes PAGE 12
The financial institution s 19 sales officers and four regional officers currently utilize a cloud-based customer relationship management (CRM) system to manage the onboarding of treasury clients. The problem with this approach is that the CRM system is not integrated with the institution s downstream applications, which means that staff has to manually re-key information, slowing down the onboarding process and creating opportunities for error. Additionally, the paper-based signature processes for new treasury customers result in stacks of paper. All of this paper requires the financial institution to use 13 analysts to validate work order information from treasury sales, create applications to collect missing client information, and track processes via Excel spreadsheets. Each document is printed two or three times throughout the onboarding process. Not surprisingly, staff frequently has difficulty determining the status of orders. Staff also has to manually review documents in order to complete audit processes. Because of these manual processes, analysts only process an average of three work orders per day. After an extensive evaluation of available systems, the financial institution plans to deploy the paperless treasury solution from WAUSAU. The financial institution s paperless treasury solution will include several key capabilities: Use of a tablet or signature pad to sign or originate agreements and transfer back to the office Automatic updates and notifications to sales and/or treasury clients Elimination of paper Single instance of a document available anywhere, immediately Electronic workflows for request-to-delivery Full audit trails and monitoring of service level agreements WAUSAU s solution will eliminate the stacks of paper the financial institution previously required when onboarding new treasury clients. For instance, with the financial institution s online service: Existing treasury customers can sign-up for new services online Data from existing services can be applied to new services Setup forms can be instantly submitted to the implementation teams Customers and treasury sales staff are notified upon submission Using a tablet for the generation, review and signing of agreements will also provide additional benefits: Standard agreement templates can be generated on the fly Complex or consolidated agreements can be completed and sent back to the tablet Setup forms can be completed on the tablet with the customer Data is entered once and applied to all agreements and setup forms Agreements can be reviewed and signed on the tablet Agreements and forms can instantly be submitted to downstream processes PAGE 13
WAUSAU s paperless treasury solution will also enable the financial institution to track the entire onboarding process. Bank staff can view the status of one or multiple implementations at any time using an intuitive dashboard. The solution automatically sends progress notifications to internal staff and the customer, and alerts operations and treasury sales officers when SLA levels are in danger. Savings add up quickly when going paperless. Through the implementation of a paperless treasury onboarding solution, the bank will realize an overall onboarding process improvement of 35%, a 50% reduction in manual audit activities, a 75% reduction in paper generation and associated lease expenses and savings of over $120,000 per year in employee efficiency gains. See how paperless onboarding improves the process: WAUSAU s Paperless Treasury Process AUTOMATED ON-BOARDING STREAMLINED FULFILLMENT PROCESS IMPROVEMENTS D A F Accelerated Order Fulfillment Cross-Selling Opportunities Indexed Automatically B C G E Increased Security Implementation Target Date Met Department Goals Exceeded WAUSAU s Paperless Treasury solution combines electronic document origination, document imaging and automated workflow technology to help banks reduce costs, increase customer satisfaction, and free sales teams to spend more time improving the customer experience. The solution completes, in hours, the tasks for which today s paper-reliant processes require multiple days. Similarly, managing documents electronically does away with the need to make multiple trips to the customer, co-workers desks and copiers, printers and fax machines. Staff will spend at least 10 to 15 percent less time on fulfillment processes. A Sales rep walks client through electronic forms on the ipad that require sign-off in order to get new treasury services up and running quickly. All forms are available to the sales rep, 24/7. B Signed forms are submitted wirelessly via the ipad while still at the client s office. C Electronic workflow routes forms to all specified departments within the bank that should receive them, providing alerts on incomplete forms. D The solution dashboard allows Implementation to have visibility into the status and progress of each area, identifying any bottlenecks that might delay their go-live date. E Workflow allows for easy tracking of forms and standardizes processes to ensure compliance with the organization s policies and procedures. F Automated indexing replaces the need for manual keying. Errors are greatly reduced and auditing becomes a simple task. G time-to-revenue has improved by almost 15%. automated process. cross-selling, and spend less time on the paperwork. documentation tracking and automating the audit process. All parties involved have visibility into the process at all times. documentation and electronic signature capture, guaranteeing authenticity and increasing compliance with governmental standards and audit processes. is improved, by 2-3 days. fulfillment processes. goals exceeded by up to 15%, without the need for additional sales. PAGE 14
NOW IS THE TIME TO ACT onboarding treasury clients remains one of the most paper-intensive processes in any bank, making it costly, error-prone, hard to track, and time-consuming for treasury sales and support teams. Worse, paper-driven onboarding negatively impacts bank revenues and customer satisfaction levels. Ninety percent of banks surveyed believe there is a significant opportunity to accelerate revenue by accelerating implementation cycle times. Additionally, seventy percent of the banks surveyed said improving the implementation process will free up their sales force to generate more sales. A paperless solution solves the key challenges with treasury fulfillment, all while significantly accelerating time-to-revenue, and strengthening a bank s relationship with its corporate customers. Best of all, corporate customers are overwhelmingly receptive to the idea of paperless treasury solutions. ARRANGE FOR A PRIVATE CONSULTATION WITH WAUSAU Learn more about how WAUSAU s Paperless Treasury can streamline and complement any/all sized new treasury client onboarding processes and technology that you use today. We encourage you to schedule an actual product demonstration and discuss how this solution can add revenue to your bottom line as well as enhance the customer experience. Call 800-937-0017 to schedule a meeting or speak with one of our solution experts. For more information, please visit. ABOUT WAUSAU FINANCIAL SYSTEMS WAUSAU Financial Systems is a premier provider of payment and receivables processing solutions, helping businesses of all types move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU holds the No. 1 market share position in retail and wholesale remittance processing solutions. WAUSAU processes more than $1 trillion in payments each year through its work with more than 650 organizations, and maintains more than 30 percent of all U.S. lockbox volume. The company works with 13 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WAUSAU s remote deposit capture service, and industry consultants Celent and Aite Group have ranked WAUSAU s remote capture functionality above all competitors. Version 0.0 2010 WAUSAU <Title> PAGE 15
APPENDIX WAUSAU S PAPERLESS TREASURY SOLUTION ADDRESSES THE TREASURY MANAGEMENT ONBOARDING PROCESS, END-TO-END REQUIRED COMPONENTS FOR GOING PAPERLESS IN TREASURY HOW WAUSAU DELIVERS 1. True paperless WAUSAU s paperless treasury solution allows salespeople to easily implementation that create master agreements using an intuitive forms tool that eliminates converts paper the need to enter the same information multiple times or to cutdocumentation and-paste verbiage from Word documents. Multiple service to electronic agreements can dynamically be combined into one agreement, including any legalese associated with a service. With a paperless treasury solution, salespeople can bring the agreements with them to customer meetings on an ipad or a laptop (or as printed copies). Clients can review documents using the ipad gestures to zoom or flip through pages. Additionally, multiple signatures can be applied to an agreement electronically using an ipad or a signature pad (or with ink) and signed documents 2. Workflow tool for routing Once documents are sent back to the bank, they automatically enter a and approving of documents workflow where they are electronically routed for approvals and implementation. The bank can configure the workflow to its unique business rules and process standards, ensuring that documents are routed to the appropriate processing staff and that services are delivered on time. Since signed agreements and related documents are routed electronically, processors always have the required information at their fingertips. What's more, multiple products can be setup simultaneously, without the need to photocopy a single sheet of paper. 3. Value-added analytics/ WAUSAU s paperless treasury solution provides reports and a real-time dashboard for transparency dashboard help identify potential bottlenecks. Salespeople also can into implementation process receive updates via e-mail when client services are approved and implemented. And the entire process is tracked (with an audit trail) to ensure that nothing falls through the cracks. 4. Ability to leverage WAUSAU s paperless treasury solution can be used to create an solution in other Internet-based, self-service enrollment platform for retail banking departments such as services, such as mobile remote deposit capture. customer service and HR 5. Support for compliance Digital documentation and electronic signature capture increases activities around auditing customer privacy and security, guarantees document authenticity, and increases compliance with government standards and audit practices. With a paperless treasury solution, banks will be prepared if federal regulators require a record of the risk information disclosed to customers. PAGE 16