What Is Document Imaging Software?
Document imaging software organizes, stores, and retrieves documents. The data managed by a document imaging system could reside on an in-house or cloud-based server. Document imaging software is widely used by a variety of industries, such as legal, healthcare, education, and, of course, banking.
Document Imaging in Banking
Three common document imaging use cases exist in banking: cold storage, customer and account document management, and operational document management.
Cold Storage
Bank core systems typically offer built-in “cold storage” solutions. Banks use cold storage applications to store the following types of information:
- Loan trial balances
- Daily balancing reports
- Non-post reports
- Daily report of accounts opened
- Daily report of accounts closed
- Non-accrual loan reports
- Past-due loan reports
Customer & Account Documents
Financial institutions also use document imaging software, such as AccuAccount, to manage customer and account documents. Customer financial documents, tax returns, loan agreements, and trust documents are just a few of the types of documents that banks store and manage in imaging systems.
Operational Documents
In addition, a system like AccuDoc can be used as a digital document archive for accounts receivables, accounts payables, policies, procedures, and compliance teams.
Banking Resources
For more information about document imaging software in financial institutions, be sure to check out our extensive resource library with free spreadsheets, whitepapers, and ebooks.
Browse our banking definitions page for more terminology.
Free Downloads
Banks Audit & Exam Prep Study
TicklerTrax Exception Spreadsheet
TicklerTrax™ Exception Spreadsheet Downloaded 1,000+ Times Looking for a free spreadsheet to track your financial institution’s exceptions? TicklerTrax might be the perfect tool for you! We’ve taken some of the basic logic from our top-rated document tracking system and boiled it
eBook: Compliance & Bank Document Management
Related Articles
“No, I Don’t Have That File”
Lisa: “Hey Tony, I’d like to borrow a loan file that you checked out. The customer is here, and I need to review a few things in his file.” Tony: “What loan ...
5 Pillars of an Effective Bank Document Tracking Strategy
Document tracking is sometimes viewed as a back-office function that deserves minimal strategic thought. Banks that hold this opinion tend to struggle with inef ...
Beehive Federal Credit Union Adopts Document Imaging with AccuAccount
We’re pleased to announce that Beehive Federal Credit Union has chosen AccuAccount for the document management needs of its commercial loan portfolio. Beehive F ...
The Definitive List of Bankers’ Banks
Thanks to community banks, consumers in the U.S. have an almost unparalleled number of options when deciding who they’re going to trust with their money: some 1 ...
3 Reasons Why Imaging is a Must for Banks in the COVID-19 Era
The coronavirus pandemic has impacted almost every aspect of life—and banking is no exception. Practically overnight, bankers across the country were thrust int ...
How to Spread Financial Statements Faster with Better Data Collection
Your financial institution has made a significant investment in its financial monitoring workflow. The latest credit spread software and a well-trained credit a ...
Bankers Online: What Is It?
Bankers Online (“BOL”) is a popular website that provides helpful content, tools, and resources for professionals who work at banks, credit unions, and related ...
5 Types of Commercial Loan Software
Commercial lending is a unique aspect of the banking industry. Unlike consumer loans, which are underwritten based on a snapshot of the customer’s current cr ...
