Document Management for Banks: Compliance, Audit, and Beyond
Document Management for Banks: Compliance, Audit, and Beyond Why Banks Need More Than Just File Storage In a highly regulated industry like banking, managing documents is not just about storage—it's about compliance, traceability, and security . From RBI inspections to internal audits, every piece of information must be readily accessible, correctly categorized, and fully traceable. As banks digitize more services, the volume of documents is exploding—customer records, onboarding forms, loan documents, audit trails, and regulatory communications. A scattered or poorly managed system increases operational risk. Without a centralized and automated document repository, institutions struggle to maintain transparency, consistency, and timely reporting. This makes an intelligent Document Management System a must-have. 🔢 Challenges Faced by Banking Institutions Paper-based processes and decentralized document silos Difficulty in producing audit trails during inspec...