Commonwealth Bank of Australia has signed a contract with Jet Form Corp. of Ottawa, Canada, to install the firm's form-automation software throughout its operation.
Jet Form allows the user to fill, print, and manage forms through a personal computer.
The software operates with Windows.
The contract, valued at over $1 million, calls for the installation of Jet Form software, Version 4.0, which will enable the bank to replace printed paper forms with easily customized electronic forms. It will also allow bank employees to enter information directly onto the screen form, and then print out a completed form or send the form through an area network to another office.
Variety of Applications
The bank will use the software to create loan applications, new account applications, deposit and withdrawal slips, time sheets, and reports.
The bank expects the software to increase efficiency and reduce paper flow substantially.
Commonwealth plans on using the software in more than 1,000 branches.
Once Commonwealth Bank completes the installation, all four of Australia's major banks, including National Australia Bank Ltd. and Westpac Banking Corp., will be using the system.
Commonwealth, the fourth-largest bank in Australia, is based in Syndey. The bank has more than 1,700 branches, 42,000 employees, and more than $57 billion in assets.