Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) employs more than 23,000 people worldwide – both in domestic branch operations and in 18 satellite offices around the world. The Canadian office (SMBCC) is a wholly owned subsidiary of SMBC and has been operating in Canada since 1982 in Toronto. It provides assistance to its customers in a number of areas of expertise including commercial lending, structured finance, foreign exchange, and term deposits.
SMBCC, like most organizations, relies on information from a variety of sources, including host system reports, email, payment streams, PC files, and images of executed contracts. In order to create a single document on which decisions can be made, everything is printed on paper. Those paper documents then get routed through the business approval cycle – a time consuming, difficult to monitor, and costly process. Compliance and audit demands also require that SMBCC store these paper records over long periods of time.
“The functionality of FileNexus® is much superior to the other technologies we looked at.” – Marlene Dacanay, Executive Vice President of Administration at SMBCC
After a review of available technologies to address their needs, SMBCC has selected the FileNexus® Enterprise Document Management System as their central workflow, archival, compliance and business continuity platform.
“With FileNexus®, we expect to save an incredible amount of money and eliminate a lot of waste.” – Marlene Dacanay, Executive Vice President of Administration at SMBCC
At SMBCC, FileNexus® will be used to archive all relevant records from their source (no printing required), organize them based on the task required, and automate each business process based on SMBCC’s unique needs.
FileNexus® will also eliminate the need for third party storage and record destruction providers by acting as the central document storage repository. SMBCC anticipates substantial savings on audit and other compliance costs as well – since records can be instantly located and retrieved with all related files.
FileNexus® was installed at SMBCC’s Toronto operations centre in August 2014 – with anticipated project completion by late October 2014.
For more information on SMBCC, click here.
The FileNexus® Enterprise Document Management System gives organizations, both large and small, the ability to capture virtually any type of document from any source (i.e. paper records such as maps, drawings, manuals, electronic files such as host generated reports, client statement streams, IVR recordings, etc.), index and compress them for secure archival and future recall—providing a single cohesive repository for all document management, workflow, archival and business continuity needs. Simple to use and learn, FileNexus® is designed to take advantage of existing infrastructure, minimizing project costs and reducing both IT and user training requirements.