Wire Transfer Approval System
The Business Challenge
Requestors can be in remote locations requiring phone calls and faxing (cost).
Banks processing wire transfers have daily deadlines for same day fundtransfers (cost).
Transfers must be audited (potential delay point).
Transfers must be delayed (potential delay point).
Transfers greater than $ 50,000 must have a second approval (second potential delay point).
Documents are filed and stored off-site (cost).
Auditing of the process by outside firms occurs much later requiring retrieval of documents from offside storage (cost).
The Enj Solution
Wire Transfer Requests is an activity repetitive by nature.
Confidentiality is a key issue in the entire workflow.
Enj handles the complex workflow involved in the routing of documents through appropriate channels adeptly with the help of business rules, users and roles allocated to them.
Reduction in time required from initiation of request to the initiation of the funds transfer.
Provision of a fully functional wire transfer of funds workflow to treasury.
Provision of electronic archiving of wire transfer document and any support documents with on-site electronic retrieval.
Security issues are addressed.
Historical data is available for future reference.
Centrally maintained work log.
Easy movement of documents.