Selecting a bank imaging and/or bank file management system can appear overwhelming. There are lots of’banking software companies’ out there now, so knowing where to begin can be challenging. Your institution will probably have lots of questions as you work through the selection process. In the end, you need to ensure that the needs and requirements of your organization are sufficiently met.

As with any choice, the effective implementation of bank document management software starts with collecting reliable information. It is very important to remember that selecting a banking software vendor isn’t only about technology. The last product chosen will impact your users and processes such as exception tracking, file management, and bank workflow.

The following 6 steps are great guidelines for helping you choose and execute a banking software program which best fits your organization.



Know Your Resources - Resources to consider include financial, technological, staffing, and availability.
Identify Stakeholders and make Your Team - Possible stakeholders to consider include: senior management, compliance and audit sections, loan servicing, lenders, division managers, tellers, trust officers, legal counsel, etc..
Assess Your Needs & Specify Prerequisites - Following review of current processes, begin to evaluate which features are”needs” and that are”wishes”. In addition, begin to prioritize your requirements and wishes. Also, develop BinBase of questions to ask the banking applications companies you approach.
Evaluate & Select Vendor - Product demonstrations are a valuable method to acquire info regarding the vendor’s product. After taking a look at the product, it’s a good idea to do a thorough review of the’top vendors’.
Manage Implementation - To ensure timely implementation, it is crucial to assign a project supervisor and implement a timeline that is printed. Put into place the appropriate resources which guarantee image conversion and adequate training are finished on time.
Keep Communicating - Open and regular communication with the vendor and internal stakeholders is essential.

Implementation is truly an art form. Financial institutions are no exception to this rule, especially in the present technology based marketplace. For bank imaging programs, this involves putting plans into practice, introducing workflows and achieving objectives. Success depends heavily on planning, project management, communications, and technology. It’s crucial to find a banking software firm that adheres to stringent guidelines, timeframes and workflows for building and deploying applications. By adhering to such guidelines, your lender can minimize risk and increase likelihood of successful software launch.