A new cloud solution, which aims to speed up and simplify compliance processes, has been specifically developed for the financial services sector.
WorkMobile®, an award winning cloud and mobile data capture service, has developed a new app that allows those working in financial services to easily collect, monitor and share data to improve business processes and reduce paperwork.
Replacing paper forms, WorkMobile® Finance allows banking staff to capture and deal with transactional data, wealth management, retail banking and debt management, through mobile forms that are deployed on the employee’s smartphone, tablet or laptop.
With many banks having to go through lengthy form filling and compliance processes, adopting a cloud service and mobile form fill technology improves efficiencies by ensuring all required data is filled in, recorded and shared in real-time – reducing the likelihood of user errors made with manual data entry.
WorkMobile® Finance’s flexible form designer allows managers to create mobile forms relevant to specific tasks and compliant to regulatory needs. Forms can be quickly deployed to mobile devices, allowing the back office to receive electronic, accurate data for speedy and confident decision making.
Dr Moneeb Awan, managing director at WorkMobile®, said: “Banking and other financial services usually involve a huge amount of paperwork which has to be compliant and filled in correctly. Manually filling in these forms takes an inordinate amount of time, lacks a discernible audit trail and is susceptible to mistakes as important information can be left off. Checking and returning an incorrect form costs wasted time and money and, in today’s digital world, immeasurable reputational damage.
“WorkMobile® Finance has been developed for global banking processes, and is already being deployed by three high street banks in South Africa and one here in the UK. It ensures these processes are compliant to in-territory regulatory standards, and can be edited as regulations adapt with business growth.”
After trialling WorkMobileâ Finance, Neil Bellamy, head of technology, media, telecoms (TMT) and services at Royal Bank of Scotland said: “Mobile data capture delivers tangible benefits to all organisations, large or small. It’s no secret that banking processes involve a lot of time-consuming paper work, which is all subject to strict rules and regulatory compliance. WorkMobile® has been able to transform these arduous processes into quick, precise and highly efficient tasks. Operationally, WorkMobile® was easy to customise and implement into our workflow needs. This kind of service is going to revolutionise workflow management, data capture and compliance in financial services.”
WorkMobile® can replace any paper form irrespective of its size and complexity. Forms can be created automatically and shared with a workforce of thousands in just minutes. Data is securely captured, transmitted and stored using the latest encryption technologies and international standards. All manner of data can be captured, including date and time, location, photos and signatures, on or offline.