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RightFax & OCR for Finance & Banking Firms

OCR and RightFax solutions for the Financial Services industry streamline business information delivery and integrate with key financial applications, such as SAP and Oracle, and other business systems to automate costly and time-consuming processes. Enterprise fax and OCR workflow offerings, enable financial services to securely exchange, manage, process and track their business communications.

OCR for Financial Services

ABBYY OCR solutions offer best-of-breed optical character recognition technology to Financial Services organizations looking to improve processes while maintaining security of data and sensitive documents. ABBYY OCR solutions FlexiCapture and Recognition Server are two distinct ABBYY OCR solutions that perform various tasks from managing and maintaining customer account information to automated form processing.

ABBYY FlexiCapture performs intelligent, accurate and highly scalable data capture and document processing. FlexiCapture captures and transforms documents of disparate structure and complexity into business-ready data. FlexiCapture takes processes performed with manual data entry such as form processing (loan applications, credit card applications, etc) and fully optimizes the process through automated data capture, processing, indexing and exportation into an organization’s existing application infrastructure. The automated process replaces the error-prone task of manual data entry to ensure data accuracy and integrity. ABBYY FlexiCapture provides settings and features to ensure confidentiality of customer account information and other sensitive information. Financial services organizations looking to leverage ABBYY FlexiCapture can expect to see a handful of benefits, including:

  • Automated form processing
  • Supports compliance initiatives (Sarbanes-Oxley, Bank Secrecy Act, NYSE, NASDAQ etc)
  • Cost savings
  • Increased efficiency
  • Improved data accuracy

ABBYY Recognition Server is an OCR solution for automatic conversion of paper based documents or document images (PDF, TIFF, JPG etc) into fully searchable document format. The creation of fully searchable text grants organizations with an effective means for archival and storage. With the creation of fully searchable text, ready connections to Microsoft SharePoint and customizable output destinations, Recognition Server drastically improves archival and storage practices and provides organizations with a multitude of benefits, such as:

  • Accommodation for high-volume documents
  • Improved accuracy of data
  • Improved ease of access to customer information and other data
  • Customizable output locations
  • Reduced operational costs through automated process

ABBYY OCR solutions, FlexiCapture and Recognition Server, provide financial services organizations with tools that drastically streamline time consuming processes. Automated document processing and document conversion improves worker efficiency, aids in compliance efforts, accelerates the business cycle and effectively improves customer relationships through quicker access to accurate data.

RightFax for Financial Services

RightFax provides Financial Services with the market leading fax server technology solution. RightFax offers secure, fully compliant document delivery to organizations, no matter their faxing needs, requirements or existing infrastructure. RightFax is a feature rich solution can integrate with an organizations email-client for mail to fax functionality, granting users a familiar interface and a central location to send, receive and manage fax and email.

RightFax ensures compliance by leveraging security of fax with certified, encrypted delivery options. RightFax provides automated notifications of fax receipt transmission or failure and offers a high degree of auditability in order to track and manage how confidential, sensitive information has been distributed.

Financial Services organizations who deploy RightFax can expect to witness multiple benefits, including:

  • Reduced document delivery costs
  • Reliable information tracking and audit trail
  • Reduced error prone, unsecure paper handling
  • Support Sarbanes-Oxley (SOX) compliance efforts and other regulatory mandates with increased document security
  • Measurable Return on Investment (ROI) and lower TCO
  • Clear audit trail
  • Improvement of document delivery times for shorter business cycle
  • Integration into legacy systems
  • Improved worker efficiency and productivity

RightFax assists the Financial Services industry by providing a vehicle for secure document distribution that leverages an organizations existing infrastructure, reduces costs, and aids in compliance requirements.

OCR and RightFax Solution for Financial Services

ABBYY OCR solutions can leverage the market leading RightFax fax server solution to provide a solution that drastically enhances processes for financial services organizations. RightFax-OCR solutions provide financial services organizations with low-cost, efficient paperless processes that ensures compliance efforts while providing a competitive advantage within their industry. RightFax provides a point of entry for inbound documents with delivery to a network folder. ABBYY FlexiCapture and Recognition Server can be leveraged to automatically capture and process the data or transform to searchable content for exportation into a specified system.

RightFax-OCR workflow solutions fully automates the process of forms processing and data storage providing financial organizations with a workflow solution that:

  • Ensures compliance through full automation of process
  • Ensures security of sensitive information
  • Frees employees to focus on other, business critical tasks
  • Reduced costs
  • Optimization of existing software infrastructure

RightFax-OCR workflows automate the entire process of receiving paper based or image based documents and importing data into business applications for archival purposes or executing business-critical actions. RightFax-OCR is a cost-effective solution with proven, trackable ROI that grant a strategic advantage to be successful in today’s financial markets.