Growing regulatory requirements are making regulatory requirements time consuming and an expensive, especially when the processes are done manually. For customers, regulations and manual processes create stress and a bad customer experience. When banks require customers to sign statements or affidavits, forcing busy customers to have to come to the branch, many times customers do not come to sign causing a delay in filing claims which in turn results in a regulatory deficit for the financial institution.
FINBOA's end-to-end digital platform, is optimized for Reg E claims to get filed on time, while also providing a e-sign facility for customers to sign from where they are, making financial institutions compliant and customers happy. Growing Compliance Regulations are driving the Need for Automation in the Back Office.