Fax Financial Application

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Financial Applications

Loan Application Processing

A financial institution needs to receive auto loan requests from dealerships. In this case, Fax Solutions.us fax service receives the fax on behalf of our customer and routes it to the customer according the established routing criteria. The fax arrives at the correct department within the customer’s environment, and processes the request. A response is then sent back, via fax, to the auto dealership where the customer is waiting to learn if they can buy a car today.  Speed is of the essence in this process.

Similar work flows are applicable to home and business loan applications. These can be received by Fax Solutions.us fax service and routed based upon the Toll Free number called,  one number is assigned for auto loans, another for home loans, etc. Further, since loan regulations and procedures are often state specific, the originating area code can be used to route the fax to state or regional specialists.

Case Study-Rapid efax Delivery of Financial Statements

Recognized as an innovator in financial services to the retail market, this industry leader operates approximately 2,000 banking centers nationwide. Dissatisfied with the length of time it was taking for commercial banking customers to receive financial statements by postal delivery, the company sought a comprehensive e-mail solution that would provide customers with account information instantly without compromising security for convenience.

Solution– We worked closely with the bank to customize a solution that incorporates personalization, encryption and reliable delivery at high volume. Outsourcing saves the company from capital expenditures related to building an internal system that would be able to handle the volume and security features of such an application. Delivered through a SaaS fax platform, statements are automatically encrypted and transmitted over a secure, IP network.

Integration is seamless and invisible to banking customers, enabling the bank to pass along the service under its own label as a source of additional revenue. Process-The bank€s computer system batches customer statements/reports and sends them the fax platform for encryption using 168-bitTriple DES (Data Encryption Standard). The fax solution then delivers the e-mails and attached statements at the start of each business day. Recipients must enter a pass phrase in order to decrypt and read the document. To enhance security, users may elect to use pass phrases that change daily.

Individual banks and their customers are able to use the service with almost any computing format,including PDF, DOC, JPEG and TIFF. In addition, a full audit trail of all messages sent through our system. These reports can be accessed by bank staff by logging on through our Web interface and entering a specific job number to check on the status of a delivery.

Financial Institution Enterprise-wide off-net faxing

A financial institution, especially a large geographically dispersed one, may have a number of different departments or work-groups with a need to send a variety of faxes from personnel desktop PCs. Typically, each department may have invested in a local fax server application which has to be maintained and expanded  including associated telephone lines  as the fax volumes increase. Typically, the institutions desktops have access to a corporate-wide WAN. Fax Solutions.us Enterprise Fax customer-premise hardware and software can be installed at one or two key customer sites.

Fax Solutions.us provides installation and maintenance. Fax Solutions.us fax service bill codes can be used to segregate service charges and charge back to the user departments. A dual installation provides a degree of disaster recovery if one site is out-of-service.

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