Sign Colorado Travel Agency Agreement Fast

Document type sign travel agency agreement colorado fast

hello and welcome to today's webinar on mobility and facial services on today's mobility and facial services webinar we'll get into why mobile why now why this is important why you should pay attention to it today we'll get into some best practices within the industry of financial services we'll get into two great examples of customer solutions including customer onboarding and mobile mortgage processing and then at the end we'll wrap up with some key takeaways so today's presenters myself Chris Edgington I am industry solutions specializing and focusing on the facial services market for Koufax and mr. Bruce Orkut your senior director and product marketing whose focus is in mobile in mobility here at Koufax as you can see there are two great resources here for you with some what links it's a webpage with our solutions on the financial services as well as mobile capture in this section why mobile why now we'll take a look at some of the the business trends and financial services we'll take a look at how big the mobile market actually is and really explore some the difference differences between the internet connected online world and the mobile world this slide will we'll go through some trends and outlooks in the financial services and I have a highlighted a couple here really is about financial institutions are struggling to find the right channel mix and to optimize the customer experience and they're really to try and engage with customers across a variety of ways in which customers want to and need to interact with with financial services firms today while it will also need to develop a new business model but execution is the key here and that will be one of those elusive goals in a facial services industry is really execution so how do we optimize the process for both the back office in the front office as well as the customer and tackling into those the back office is really try and get to operational efficiencies to reduce cost all the while trying to hit that home run while improving customer service so what's on a mind of CIOs today this is a survey that CIO study did in 2011 where do you have increased competitiveness of over the next three to five years so you can see that mobility solutions and banking and across the globe is second on the top priority list right behind business intelligence and analytics people are focusing on mobility and trying to figure out how to do it right a great slide on mobile mortgage it's huge and growing as you can see from some of the data points here 400 million smartphones sold in 2012 110 billion in mobile e-commerce sales last year 2011 in one week in 2011 1.2 billion application downloads so the markets huge it's growing only to get bigger and just to differentiate a little bit here that Mobile is not the Internet Mobile was not online it's not an online experience and I think that's a key differentiator for us today to learn is that we actually have to pander to both markets and you can see here that only 34% of the world's population is online you connect to the internet through some sort of PC or laptop whereas 61% of the population actually owns a mobile devices of some some sort if we fast forward to 2016 you'll see the nursing not much change in the population that will be online but you'll see over two-thirds of the population will still be mobile and some sort of mobile device so how connected are your customers to their mobile phones this is a I thought this was a very poignant three data points here from in to mobile they did a survey that 84% of the people surveyed keep their device was been three meters of them at all times and that an average person looks at their phone 150 times a day where every six and a half minutes and then this is another one too with the XML the SMS text messages are read four minutes after it's sent whereas an emails read 48 hours after sent so actually gets to that immediacy of the market and how you actually have to plan your mobility in your mobile applications in that immediacy of the of them mobile applications equal huge opportunities on the left side of the slide you can see we're in the business to consumer market where there is distinct advantage in the mobile market for having a very robust mobility strategy that can really bring about a competitive differentiated differentiator improve your customer service get to that customer engagement and loyalty with customers providing some insight into the buying cycle for that all two critical cross and upsell opportunity and get you that revenue in a quicker quicker amount of time and really improve your brand perception on the right side of the slide you can see the business to enterprise perspective here through increasing your revenue through more productive sales engagements being able to take care of business right there right then with your with the customers include improved claims processing increased worker productivity your responsiveness decision-making speed and I think one of the bigger benefits here is really reducing your process latency and shortening and shortening the time to get all of the processes done in a very timely efficient and effective manner this is actually at the top a snippet that I got from a visiting one of our customers but it really speaks to how that they've actually crystallized their mobile strategy is that they plan or interactions with their customers and that that a customer will always use a phone an interaction on their phone for nine seconds and then anything over nine seconds that will actually involve a more time-consuming interaction they would have nine minutes for the tablet and then nine hours for everything else so this really speaks to that immediacy of a phone and how to use a mobile app so how are these mobile apps different so a lot of these these that bullet points are very self evident like the screen real estate is very precious you should minimize typing they should still be available the application should outside of any kind of wireless coverage security is violating critical so that we actually are able to secure transmissions the interactions are very short they're focused content in this case is very is very key to have correct and powerful and they the users themselves require that efficient and timely access to information so again this is how to differentiate some of your mobile applications from your internet applications and why they're going why they are do so the scope of these projects typically what I've come across here is that we tend to the industry actually is categorizing some of these interactions in three broad categories informational transactional and value-added services a later slide you'll see that Tower group actually sort of uses this the same sort of model in there in some of their research but really it's kind of an escalating scale and it's a more maturity growth model here that most financial services firms are in this first informational stage which provides the Appel for customers to check their account balance transaction history really limited value limited revenue potential here and that they're already kind of involved in in the market so it's just kind of like sticking their big toe and water for example for sake the second category here is you move up that sort of that by maturity model is really transactional you know paying for goods and services transferring money Stevan remittance it does have a large revenue potential here and then the third category is really value-added services so taking that transaction one step further and providing some value to it and there's a very large revenue potential in developed markets here so just three steps of the way of how you can think about mobility projects and how they're being implemented so best practices and Puckle services here's a slide from Forrester it really has three main points on on there best practices and mobility really is to have a mobile website that's different than your internet website as we've talked about earlier is that the way people use a mobile website and they use the internet website is very different the interactions are very much different from user experience then you also have to decorate differentiate from your mobile site in your applications again different purposes different uses you really need to differentiate there and I think this next point a month about thinking in the immediate sea thinking simplistic and then context is king is make sure you push the right content to the right person at the right time some key points here you can see these but it's not about sites or apps it's about offering the best content and start thinking about your customers needs now that's a really key point is just don't try to push what you think they know but really get started get in front of them and push what you know that they need and remember that value proposition immediacy simplicity in context as I mentioned earlier on the tower groups website tire groups webs research I should say sorry about that this maturity model really from informational to transactional interactive to orchestrate of really pushes that that best best practice and maturity model s you get more experienced in in the mid mobility market what your customers are actually like looking for what they're actually seeking and as you go further up the curve more of a revenue potential to actually make money off of your mobility strategy comes into play so some key drivers technology strategic and technology initiatives really across the top you'll see that the key drivers really here our customers process but profitability regulatory compliance and cost containment and then down below we're going to build the slide for the strategic initiatives that will actually go about hitting some of those key drivers and then the technology initiatives or projects that actually support the technical the strategic initiative so you need to support your customer acquisition your your retention establish your brand value I think enhancing your multi-channel integration is huge so you have to do you have to be able to provide that channel of choice for customers so that they interact the way they want to interact across any kind of input channel into the organization and it has to be the same sort of experience across those input channels and in this highly migratory environment that's ever-changing complying with all those those regulations is really it's a whole job into itself so some of the technology and initiatives they're really streamlining standardizing being able to offer that single customer view and getting into some of those customer analytics that actually can forecast that can provide that trending so that you can actually get in front of some of the ways in which your customers are wanting or needing your services mobility and koufax I want to show you a short video here how we believe you we here at Koufax view mobility what if your employees and customers could capture information from anywhere and instantly initiate revenue generating business processes with Koufax mobile capture simply taking a photo with a smartphone or tablet extends business processes to the point of origination where the information is first available by snapping a picture through a touchless process the information is automatically perfected classified separated extracted validated and insert it into any step of a business process take a loan approval process after starting the lender may later request trailing documents like credit reports proof of income or employment records with Kovacs Mobile capture that information can be captured at any time by the customer themselves and instantly insert it into any step in the process the missing or trailing documents doesn't cause a delay its simply captured in process and activity continues on schedule compromised image quality causes higher exception and correction costs and the challenges of getting data at quality capable of driving business processes are greater on mobile and traditional scanners Koufax is patented market leading virtual rescan image perfection technology ensures mobile images taken by the highest quality and process ready this equates to faster processes lower costs and better data some knowledge workers can more quickly understand and act on the information better engage with your customers on their terms for enhanced service achieve a competitive advantage and grow your business and revenue all with Koufax mobile capture you in this section of the webinar we'll explore mobility at Koufax with two out staining solution examples in financial services including customer onboarding in mobile mortgage so how we actually help optimize the customer onboarding we streamlined the opening of the account within from weeks within hours so it gets to that time to revenue we can actually capture all of those required documents at the branch as off of the device off of email all of those again just come in that consistent entry point into the organization and I think as you'll see in this video in a couple of minutes we can actually trigger events and interactions and notifications with a customer so that if you don't get all of the information that's necessary to process the transaction we can trigger that ask the customer to send it back in all in an automated fairly automated and secure secure manner as you can see here that no matter how the information comes in we can still extract information from that validate classify it and give you all that accurate information into the back-end process and give you that traceability so that all the audits all the compliance issues are taken care of all every step of the way we can also again give you those notifications back messaging new customers we can provide you know offers - based upon segmentation of your customers new offers for for products and services so that you know everybody's kept abreast and we can actually get get that lifetime loyal customer that we're looking for and in a major point a differentiator for us is that we can actually classify and all of these new forms or new documents in a learning way so you don't have to keep updating the system with new forms we can actually speed to see the forms this system and the system actually learns right right through in the process itself so our whole our whole really goal in this is really the bet the better that customer experience speed accuracy communication visibility all of those things can be brought to bear in a new automated streamlined fashion how long does it take to onboard a new customer and what kind of experience do you provide in the process Laura Wilson has recently moved and is thinking about switching banks she sees an advertisement for bank right on a social networking site she can call click or visit to complete an application and decides to visit the bank to check it out laura meets with manuel a new account representative she decides to open an account and they fill in the application together she also completes a fund transfer approval form Laura brought her driver's licenses proof of ID she also needs to provide proof of address like a utility bill but she doesn't have one yet at her new home Manuel tells her she will receive a text and email from the bank with a link to upload a household bill Manuel uses the Koufax mobile capture application on his tablet device to take a photograph of the documents the information is uploaded directly to the bank's central headquarters from the point of origination at the branch the documents are automatically classified and separated data is automatically extracted in a highly accurate touchless process without any human intervention Laura's case is instantly opened the Koufax solution uses Bank Wright's internal business rules to segment customers based on their income and to choose suitable products and services for them Laura has been identified as a high net worth customer based on the income stated on her application inside the banks know your customer process sub processes are kicked off and a credit check is initiated another process is started to validate her identification the former address on Laura's ID and her application don't match Laura receives a text on her smartphon while she's still in the bank this confirms her phone number and her email address she is provided with a confirmation number and access to the bank's web portal to provide another form of ID and proof dress the service-delivery expectation is that the account will be established within 48 hours shortly after leaving the bank laura photographs her passport and uploads it securely via the Colfax mobile application within seconds she receives a confirmation text that it's been received within the same text message the bank has provided Laura with a link to their web portal where she could check the status of her application the next day laura receives her first electric bill at her new house she logs onto the bank's secure web portal and uploads the electric bill using her all-in-one device as Laura's case is nearing the expected service delivery deadline the Kok box business process management system places a higher priority on the document after submitting her electric bill as proof of address Laura checks the status of her application in the web portal there are multiple processes being managed in parallel by the Colfax business process management system in order to meet the promised service delivery date back at the bank to ensure the onboarding process continues to progress smoothly for Laura and all their new clients a senior executive at Bank Rate looks at his personal dashboards using a tablet device while traveling they display the new account opening metrics compared to his monthly quarterly and annual targets he can also look at process analytics that show real-time statistics for the customer onboarding process and for the performance of the service level agreement this helps him to rapidly identify process problems and hotspots now that all the required documents had been received the system initiates a request to the bank's line of business system to set up Laura's account in this touchless process all data is delivered to the bank line of business system and Laura's account is established Laura can now see on the web portal that her account has been created and is moving to the funding stage the web portal interfaces seamlessly with the bank's back-end enterprise systems to provide Laura with real-time status on her application another process is initiated with the bank's line of business system again with all required and verified data to transfer funds Laura's old bank to her new account in Bank right laura is notified by text message once all of her funds have been transferred at this point Laura's onboarding process is almost complete she now received special fulfillment correspondence from Bank right she has also been assigned a special high-net-worth account representative Sofia Jones she receives a text and email with Sophia's personal contact information and other product offers from the bank that are especially chosen for her Laura's account was processed and funded from start to finish in less than 48 hours the onboarding process was personalized to her situation and communication preferences and she had complete visibility into the process at all times a great customer service experience makes Laura a happy customer and she's likely to recommend Bank right to her friends with the faster process Bank right realizes shorter time to revenue makes Laura feel valued and increases the likelihood of turning her into a loyal lifetime customer these benefits aren't limited to onboarding in just financial services insurance health care and government can all benefit from capturing information at the point of origination and using touchless processing to improve operational efficiency all within an enterprise ready capture enabled BPM solution learn more about how Koufax can streamline your customer onboarding for better customer experience a competitive advantage and faster time to revenue you just to recap a little bit on the the video we just saw with customer onboarding with Colfax just some key points here really is is engaging the customer with how the customer wants to be engaged so whether the process is started in the branch notifications sent on their mobile device trailing documents uploaded it on through the secure web portal from the bank all of that can be integrated directly into the process no matter which way it actually came in notifications are sent out all of this is in a in a in an automated fashion before any of the process gets downstream so a lot of this upfront work which used to take a lot of time and energy weight on your subject matter experts really doing I would say mundane tasks or less less knowledge required tasks following up and making sure they submit at the right document making sure they submitted you know 2011 s return versus 2012's return all of that can be handled in an automated fashion so that when the system does know that it actually has everything it's required although then all of that then gets generated and sent downstream through the business process so that the workers can actually then work on on high-value tasks as opposed to some of them the mundane tasks that that typically is is being run out of a run out of the process today so all of that can be giving automated all of the not in good order process all the trailing document process all the interactions back to your customer can be came in an automated way even before it actually gets back to your to sort of kick off the process in the backend a little bit of a little bit of the difference in the difference in benefits from the front office to the back office in across I would say this is not just specific to customer onboarding but really whole host a whole host of processes within the financial services world including words processing which will see an example of and a little bit claims processing on the insurance side but really from the front end and proof customer service perspective you get more value in the time to sell you get immediate response the secure handling of customer documents on the back end you get all that increased efficiencies with reduced processing time data accuracy goes through the roof and again you get that transparency and all its ability of of the data at each touch point so mobile mortgage going to dive into our next example of mortgage processing and how we can integrate the mobile applications and mobility into the mortgage process or we're talking about here how about how to accelerate the revenue how to engage customers in a through the way that they want to be engaged and again create better decisions and visibility of the process so how can we speed up the processing through the processing with less errors how can we give transparency and visibility into the process get better data and actually feed better information into the process engines and downstream line of business cysts all months ago we came out with our the industry's first mobile mortgage application and it's really just an extension of the origination systems and processes that's meant to engage the user in the process in such a way it's really just another on-ramp into the origination process so we can engage customers directly on their device we can ask them for more information we can without asking them to do too much in that whole nine second rule as I as I alluded to earlier and I think the best part of this is really the differentiator for us anyway Koufax is provide that optimal image quality so we're not just taking pictures and sending it down stream for someone else to mainly key or we're actually converting the pictures to image ready quality types of the quality type images so that we can actually extract data right off the image even if it is generated and sent in from a mobile device so we have reduce exceptions faster processing and then one of the other big benefits here especially from a consumer customer perspective is that we're not eating up all of the their their data plans by transferring the large amounts of data here instead of churn trans transmitting you know 2 megabytes of files we're actually doing 24 kilobytes and you'll see in a minute so here's our platform on the mobile capture platform it's very simple on the bottom you know on the left side where it really is starts with taking the picture and it came here to really be anything from the application itself the driver's license passports utility bills for proof of residence proof of address sorts of things right through the right through the device itself once the picture is taken we actually use the VRS patent the Colfax patented VRS technology to clean up and compress the image for optimizing in transferring and extraction of data so then once it actually hits the system that's where we do all of the the typical I would say typical process for Koufax usually classifying documents doing the recognition on it extracting data validating data and then delivering all that to your back-end system whether it's a line of business system a BPM system and then I think one of the big parts you'll see here a little bit through Bruce or cuts demo is really confirming that the customers actually sent it that we got it and we're processing it I think that's a valve idle way to close the loop with the customer and prevent some of those extra calls into the call center asking hey did you get this did you get that and then have the customer actually sending sending of the same documents in two or three times so Bruce can you run us through the mobile app for us here this sample mobile application developed utilizing the Koufax mobile capture SDK and connecting to the Koufax mobile platform in this example a customer is using their mobile banking application and is notified by the loan process that additional documents are required in support of their loan application the user is then guided through the process of capturing and submitting this information directly to the loan process this capability mobility not only engages the customer in the process but accelerates the processing time for this information as it is captured directly by the user or their broker at the point of origination the user will be notified as to which document is required the application using Koufax patented VRS image perfection technology will guide them through the capturing of the document and then through the submission once submitted Koufax Advanced Technology classifies the documents to ensure the right document was submitted and extracts the data this is an important step as the system can ensure that the right document is submitted and the document and the data contained within the document supports the requested information here you see the application running on the user's phone for they select the submit button and now they're prompted for the documents that are being requested by the loan process in this case the user is being prompted for a w-2 they select the w-2 case they go ahead and utilizing the camera widget from cofax Mobile SDK captures the document utilizing Koufax VRS technology the document is captured for the for the user and now they can go ahead and submit this or capture additional pages if required so here they can go ahead and review the document that was captured select the submit button and now the document is submitted directly back into the loan process where it can now be put into the flow and ultimately funded here in the back-office utilizing the Koufax mobile platform we can see the results of the information that was extracted from this document we can make sure that it's a w-2 from 2011 there all the data is there so we can automatically extract this information for the business process making it available for those process engines to make decisions and ultimately fund or accelerate the processing of this loan application thanks Bruce just to recap a little bit with the mobile mortgage app with Koufax you get better image quality you get process ready documents they're in the right format the right orientation smaller file sizes which i think is a real impact on customers data plans and again we're not asking that the customer to key data in really Miller they asking merely asking them for what type of document take the picture and submit again all within that kind of that nine second strategic role that we talked about earlier the process flow is very simple for a user to follow we think that's actually key to enablement in an increased usage usage of the application itself but it really is required prompting the user for the required document and this can be actually being a text message as you saw in the customer onboarding video it can be even an email it can be pulled up on their email on their mobile phone that click click a link it pulls up the application you tell it what kind of document is you take the picture and submit it and I think again a vital piece of this in closing the loop with the customer is that confirmation that it has been delivered to the mobile platform so that you do not get all the questions and all duplicate documents being submitted from the customers they actually can see that the documents been submitted is being worked and you can actually communicate some expectation on when it should be processed and when they're gonna get back to to them with decisions again just to highlight another major port portion of another major differentiator for us is that we're actually extracting data from these images that are submitted on the mobile device so it's not just taking a picture but it's really converting it to an image so that we can extract data from it and we can deliver that data into downstream processes and again this is just another on-ramp it's whether it's the same process whether it was actually delivered being email scanned at a branch sent via they get mail to a central processing site all of that kind of goes to the same process and the same information is actually extracted whether was again submitted via mobile or any other input channel in the consistency in the channel of choice for the process and again the confirmation I think is vital for us to create that that engagement where the customer close the loop and again we can also provide additional information back to the customer with the status the links unique ID they actually see their documents on a on our web portal you can actually do a lot of things with that with the confirmation itself even offer cross-selling or other other services or products within the bank some key takeaways as we kind of conclude the the webinar a some really the value proposition for banks as you can see here improved customer profitability in included in there I would say there's a lot of the visibility in the engagement with a customer in the new and exciting ways increase your operational efficiency it's a standard process it's one way one way in no matter what input channel you get high data accuracy fast information you know that flexible platform so that you can scale when the interest rates go up or interest rates go down you don't have to be hiring people or laying off temps you know the system can scale with you in all kinds of markets then you can actually restructure all these costs intelligently and actually get some real value in real savings and hard dollar ROI by doing the cofac solutions Koufax's this is a new Forrester wave that came out a couple of months ago on a multi-channel again capture which again is is all the input channels not just one one input channel but in the multi-channel and can see where Koufax's as ranked within the wave the Forrester wave it's a highest position the strongest market presence and you can actually see we're actually off the chart on the right side with the strong strategy in outdistancing a lot of our our competitors our company successful and growing you'll see here twenty plus thousand customers tens of thousand integrations with ERP CRM line of business systems and I think one of the things were most proud of is we are focused on innovation we continue to invest thirteen percent of our software revenue goes into R&D global company 37 countries and growing so it's a very stable been around for a while and we are the leader in this industry again just a little bit of the types of customers that are engaged with with kou ax 86 of the of the global fortune 100 companies are in fact Colfax customers this up our our webinar today thank you for very much for paying attention if you have any questions my emails listed here please visit our mobile capture com website in our solutions website off of Colfax comm banking in and science through banking in finance thank you very much