How to successfully automate banking documentation with Osidoc at Natixis and CACIB?
Transfer of contractual document drafting to operational level
Documents: all types of letters and complex contracts in all fields, e-mails
Interactive use of the solution -
Multilingual operation
Customer context
Prior to Osidoc's intervention, Natixis and Crédit Agricole CIB, two major investment banks, were experiencing numerous difficulties in managing contractual documents at the level of their operational entities worldwide, such as hedge funds, asset managers, final terms, and FBF (Fédération Bancaire Française). The main problems identified were :
Inefficient use of Word templates: The tools developed in-house by IT were not adapted to the specific needs of users, forcing them to use Microsoft Word templates for drafting contractual documents. This led to heterogeneity in the documents produced, a lack of control and difficulty in maintaining compliance.
Decentralized, manual publication processes: Document templates and their filling instructions were published at operational level, with Excel tables for liaison with the centralized legal department. This mode of operation led to constant back-and-forth processing of each contractual document, making the process long and error-prone.
Inefficient validation circuits: The process of validating contractual documents required multiple intermediate printouts, resulting in considerable loss of time, high costs and a negative environmental impact.
Problems of specialization and slowness: Users were specialized by process, making it difficult to manage absences and increasing the slowness of responses. In addition, the use of local printing facilities and mail services further complicated the process and lengthened processing times.
Loss of information and costly reprocessing: Loss of information in customer files was frequent, resulting in tedious reprocessing in various third-party application environments, such as business applications, Electronic Document Management (EDM), Compliance, and Business Intelligence (BI). This situation led to inconsistency and overall inefficiency in the information system.
The Osidoc intervention
To address these complex issues, Osidoc was deployed at Natixis and Crédit Agricole CIB, bringing about a complete transformation of document management. Osidoc's intervention involved the following actions:
Replacing Word templates with a single solution: Osidoc has been introduced to completely replace the use of Microsoft Word templates. This new solution enables a single use of document templates, centralizing management and ensuring consistent, controlled updating.
Centralization and traceability of document templates: With Osidoc, all document templates are updated centrally, guaranteeing conformity of content and presentation. Every modification is traced, offering total transparency and visibility over the history of changes.
Automated validation circuits: Osidoc has eliminated the need for intermediate printouts by fully automating validation circuits. This automation has not only reduced processing times but also minimized human error, ensuring regulatory compliance.
Optimized document publication: Osidoc has optimized the publication of contractual documents by using central printing facilities for customers without e-mail addresses, and by sending documents by e-mail (as attachments or in the body of the message). This reduced printing costs and accelerated communication with customers.
Standardization and simplification of processes for all users: All users, whatever their level of specialization or geographical location, can now use Osidoc without any specific prior training. Document drafting processes are standardized, simplifying use of the tool and enabling rapid adoption.
Automated reprocessing in third-party systems: Osidoc has integrated automated reprocessing functions in various third-party application environments such as business applications, EDM and BI. This integration has eliminated the need for manual re-keying, and enabled real-time data consistency within the information system.
The results
The integration of Osidoc at Natixis and Crédit Agricole CIB has led to significant improvements in the management of contractual documents worldwide:
Drastically reduced costs and turnaround times: By eliminating the use of Microsoft Word and local printers, and optimizing validation circuits and publishing resources, Osidoc has significantly reduced operational costs. Response times have been considerably reduced, offering greater responsiveness to customer needs.
Improved document compliance and quality: The centralization of document templates and the automation of validation circuits have ensured that all documents produced comply with the quality and presentation standards required by regulators and internal stakeholders.
Consistency and integrity of the information system: Thanks to the automation of reprocessing processes in third-party systems, data is now integrated and consistent in real time, without any manual re-keying. This has eliminated errors and ensured better data quality.
Ease of use and rapid adoption: The Osidoc tool was designed to be accessible to all users without the need for specific training, thus facilitating its widespread adoption. The standardization of processes has also simplified document management and reduced training costs.
Reduced environmental impact: By eliminating intermediate printing and optimizing electronic document publishing, Osidoc has helped to reduce the carbon footprint of both banks, in line with their corporate social responsibility objectives.
In conclusion, the integration of Osidoc at Natixis and Crédit Agricole CIB has transformed the management of contractual documents, offering an innovative and efficient solution that improves compliance, reduces costs, and accelerates processing times, while simplifying the user experience and aligning processes with the strategic objectives of both institutions.
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