You can Bank on OpenText RightFax
In the Financial Industry, success is all about communicating. And, most importantly, success is about communicating quickly and effectively.
Critical business processes demand speed, efficiency and reliability. The reasons most of our banking customers moved to Network Fax and chose RightFax is due to the ease of use, management control and a return on investment as a result of a reduction in delivery times and communication costs. Other key factors were the control of user access and allocation of specific rights, least cost routing, received faxes to desktops through DDI, centralised management of all fax activities and interfaces with most messaging systems on the market.
Questioned why they chose RightFax, most commented on the broader solution, which offers not only network faxing but also complete e-Document Delivery Solutions. Purchasing a solution with proven reliability and a market leader was commented on as providing ‘piece of mind’.
All RightFax customers achieve secure, reliable, automatic faxing and e-document delivery. But security to the financial community was stated as a ‘prime concern’ as the materials faxed deal with personal and business finances. RightFax solutions offer a secure environment for the company’s confidential faxes, by providing the ability to deliver to specific end-users to ensure confidential faxes remain private. The solution addresses the requirement for encrypted and certified email delivery options and centralised contact information, this offers enhanced security and privacy, which in some cases is needed to maintain regulatory compliance. Rather than piling up on fax machines to be easily misplaced, incoming pages are automatically delivered to the intended recipient, who then has an electronic storage of important documents.
Today’s enterprise demands a fax software solution that addresses specific company communication processes, integration with existing network infrastructures and other messaging systems, and MIS management guidelines, while taking into account enduser needs. At the same time, the solution must be flexible and adaptable to keep up with an organisation’s changing requirements over time.
One of the leading Banks using RightFax was looking for a solution to integrate with Oracle and send faxes telling a customer when a CHAPS transaction had taken place.
As CHAPS transactions have same day clearance, traditional post was not a viable way to inform on the status of the transaction. A communication was required that could record when the message was sent and when it arrived. In the past employees had relied on a combination of slow fax machines and modems to send this critical and confidential information to clients. RightFax Universal Information Exchange (UIX) solutions provided the answer. Tested, certified and recommended by Oracle, RightFax UIX solutions now provides the Bank with a cost-effective, secure way to automate the exchange of this information. It augments Oracle with seamlessly integrated fax and information exchange capabilities, which enables them to reduce costs and improve service, by efficiently distributing the information. The solution can also help ensure that documents are not altered during transmission. With RightFax, information is transmitted as image-based PDF or TIFF documents via a secure PSTN and then stored electronically on the fax server.
The same banking establishment also needed to reduce document delivery costs significantly and improve overall client service; it particularly needed software for e-document delivery from virtually all business applications. When you consider that over 80% of the documents that are faxed originate on a computer, the increase in productivity that RightFax provides is huge. Compare the time it takes to send a traditional fax, which is averaged at 10 minutes, to faxing from the desktop application, which only takes a few seconds.
By sending and receiving faxes at their desktops, employees are now saving time and increasing productivity. RightFax also significantly reduces telecommunications expenditure. One of the cost-saving features is on long distance telephone charges, as faxes can be sent and received using rules-based least cost routing schemes. The Bank now offers much better customer service as faxes reach their destination quickly and securely with no misplaced faxes, or faxes lost or waiting to be hand-delivered.
RightFax has definitely sped up response time to customers and provided productivity returns; both are key in maintaining a competitive edge in the industry.
Many leading UK Banks needing a reliable and secure communications medium have found server based faxing from RightFax has best suited their needs. One major advantage is the improvement in tracking and storage it offers. To meet compliancy regulations some companies must maintain all communications, application data and records between themselves and their public auditors for five years. As a result, digital documents are very important. How they are delivered; who delivers and receives them; and how they are stored can have significant consequences for enterprises. RightFax can be configured to store incoming and outgoing faxes electronically in a secured network storage device, archiving system or database. This provides electronic storage and a deeper audit trail for covered documents to help satisfy regulators.
So why is RightFax deployed by so many key players in the Banking Community? It is not only regulatory procedures, streamlining their secure business processes, eliminating inefficient manual document delivery and receipt and gaining a competitive edge by offering enhanced customer service, but they are also seeing a substantial return on investment with document delivery costs reduced by up to 90 percent.
Questioned why they chose RightFax, most commented on the broader solution, which offers not only network faxing but also complete e-Document Delivery Solutions.
Banking Solutions
Please see our Solutions for Banking page for more information on how we can help you.
More Information
For information on any of our solutions or products, please call us on 01962 835053 or email sales@processflows.co.uk.
