UK-based Patent Translation Services Company Choose ABBYY to Handle its High Volume Document Conversion.
The UK Financial Services sector has several vital characteristics in common with some other sectors regarding information management.
As the global banking sector started its recovery, some focus inevitably fell on the seeming failure of Basel II, the regulatory framework designed to ensure banks’ capital adequacy. Whilst insurance was not so affected, insurance regulators will almost certainly have heightened sensitivity to their obligations and scrutiny of the firms they regulate, through the enforcement of Solvency II, sometimes called “Basel II for Insurance”. The burden, naturally, will fall mainly on firms, not the regulator.
A damaged reputation, adverse inference rulings, fines, sanctions—the high costs of eDiscovery to your business can be more than just financial. Third-party legal vendors have helped to mitigate risk in the past, but at a price and with many disadvantages. As a result, progressive organizations are now moving their eDiscovery solutions in-house as well as reducing and preventing content issues before legal discovery orders occur. Through automated applications and proper planning, in-house eDiscovery solutions can avoid common pitfalls and improve overall content management practices across the company.
Financial institutions are experienced in delivering automated, straight-through processing of data-intensive business processes. However, many real-world processes, such as loan and mortgage origination are content-intensive and require efficient, enterprise-class systems to automate document capture, document workflows and correspondence management. Retail banks can further improve process efficiency, cost control and customer loyalty by integrating with other systems to collect existing structured and unstructured data, capturing paper-based content digitally and delivering a rich, highly personalized customer experience.