Bendigo and Adelaide Bank has successfully deployed an enterprise document management system (EDMS) that enhances various processes, ranging from loan origination to document retention and disposal.
The bank consolidated 15 million documents from multiple systems into a cloud-based EDMS. The system utilizes Microsoft’s SharePoint Online and Infosys Cobalt technologies.
The completion of the EDMS marks a significant milestone in the bank’s ongoing digital improvement program. As part of this initiative, Bendigo and Adelaide Bank continues to work on modernizing its technology stack and completing foundational work.
The new EDMS provides centralized access to documents and facilitates the assignment and management of security and access permissions.
Nathalie Moss, Practice Lead for Lending Technology, highlighted the benefits experienced since the EDMS went live. She emphasized that employees can now serve customers more efficiently due to the centralized document storage and searchable access approach.
Moss explained that loan application processes involve substantial documentation, including identification, collateral evidence, and bank communications. The previous reliance on multiple systems made it challenging for bankers to track documents or process requests, resulting in longer wait times.
Collaboration among bankers by allowing real-time access and modification of content
The cloud-based platform enables improved collaboration among bankers by allowing real-time access and modification of content. It also enhances collaboration through features such as drag-and-drop file capabilities and advanced filtering and searching options.
Apart from streamlining loan processes, the consolidated EDMS simplifies letter generation, automates document preparation, storage, distribution, and metadata population. Additionally, it improves document lifecycle management and addresses challenges related to document retention and data security.
The EDMS aligns with Bendigo and Adelaide Bank’s broader goals of simplifying, modernizing, and digitizing systems and processes. It enables integrated and reusable capabilities for document generation, storage, and lifecycle management across the bank. By simplifying its technology landscape, the bank achieves increased efficiency, enhanced security, and reduced maintenance costs.
Other examples of the bank’s simplification efforts include consolidating multiple bank brands and related technology systems onto a common core and integrating Delphi Bank. Furthermore, the bank has developed a new collateral management system that centralizes collaterals and securities from various source systems into one modernized, API-enabled solution for the enterprise.
