Seven Ways Small Banks Are Going Paperless
Published August 28, 2016 9:00 PM
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Updated August 24, 2016 8:02 PM
1 Min Read
Eliminating paper doesn't just speed up processes and cut costs it's also good for the environment, and helps financial institutions recruit and retain green-minded and tech-savvy young employees. Here's a look at how some of the Best Banks to Work For are saving trees while saving money and time.
Taking the "Book" Out of "Bookkeeping"
BankPlus in Ridgeland, Mo., has a completely paperless accounting system.
Scanning Checks Locally
BankPlus also captures check images at its branches rather than at a central location. This not only cuts down on paper but also consumes less fuel by reducing the need for couriers.
Getting Customer Signatures Electronically
Happy State Bank in Amarillo, Texas, uses electronic signature pads for accounts and loan closings instead of printing out multiple documents for signatures. The bank then files this paperwork in its electronic document imaging system.
Having the Board Use iPads
Happy State also delivers its monthly reports to the board of directors electronically on the iPad.
Ditching the Glossy Annual
Pinnacle Financial Partners in Nashville produces an electronic annual report.
Printing on Demand
Pinnacle also uses a print-as-you-go system, with client documents housed on the corporate intranet for updating and printing as needed. This eliminates re-printing materials such as manuals and product sheets.
Getting Customers to Opt for Email
Like many banks these days, Pinnacle actively promotes environmentally friendly electronic statements and encourages clients to receive all correspondence electronically. Nearly half of retail clients and 27% of commercial clients have signed up for e-statements.
