The common practice of using paper forms is causing banks to miss capturing the correct reported date of a claim. Paper forms can sit with retail staff for multiple days until they are submitted for processing. Delays cause banks to miss the provisional credit deadline resulting in a Reg E deficiency.
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With FINBOA's automation optimized for Reg E, claims get filed on time. Four Inconsistencies that Lead to Regulation E Bank Losses.
FINBOA's end-to-end process automation eliminates the need to use paper forms and multiple systems that require manual rekeying of data to stay compliant. Manual processes increase the likelihood of regulatory deficiencies, customer frustration, and require time consuming and expensive oversight. The results are delivered via a Cloud offering that reduces time to value to 2 - 4 weeks and TCO by 40%. Time saved allows financial institutions to focus on revenue generation activities. Contact us at 281-503-1233 or marketing@finboa.com. For more information: https://www.finboa.com.
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