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VTB Bank introduces Electronic Folder system

22 April 2013

VTB Bank introduces Electronic Folder system.

VTB Bank has completed the installation of the Electronic Folder automated system of centralised storage of clients’ documents as part of its regional network reform.

A fresh glance at the possibilities of ABBYY FlexiCapture data capture and document processing software by Russian company ABBYY allowed the bank to considerably improve the efficiency of its business procedures, primarily by minimising the use of hard copies and, more importantly, by substantially reducing demands on clients to provide hard copies of documents.

“VTB is completing the reform of its regional network, which has included optimising its regional presence status and creating Operations Support Centres. These centres will be responsible for the bulk of operations to support and register customers' clearing and lending transactions. The Electronic Folder was a major element of the effort to create the necessary foundation for the regional network reform,” member of VTB Bank Management Board Victoria Vanurina said.

All bank outlets now have equipment for scanning clients’ documents and sending the images to a centralised system, where they are identified, classified and stored in a database accessible to all VTB Bank employees across Russia. The Electronic Folder system can be used to process more than 5 million documents of over 600 types per year. Its introduction has ensured geographic independence and greatly increased the cut-through processing of documents, accelerating banking processes and reducing the bank’s costs.

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