Archiving and managing documents used to be a time-consuming and inefficient task. Almost all documents were stored in paper form, often redundantly. Not only did each of Kuwait's 80 branches have its own filing structure. KFH also maintained a central paper archive at its headquarters with up to five employees. As is common in the banking industry, customers are required to provide a variety of documents to verify financial transactions, including proof of identity, contracts, and balance sheets. In the past, the originals remained at the branch and were sent to the central archive via a logistics service provider after the transaction was completed. But space was becoming an issue. In addition, the large number of documents often made it difficult to locate specific documents quickly when needed, such as when the branch requested the originals for follow-up financing. Even in the best-case scenario, it took several days, including shipping, before the branch had the information it needed. In 2005, the listed bank decided to embark on a comprehensive digitization project and analyzed the solutions available on the market. Together with the local implementation partner, DocuWare scored high in terms of functionality, technical capabilities, and cost, and prevailed over other solutions. After starting with corporate customers, the bank gradually expanded the use of the solution to its branches and private customers.

Country:
Kuwait
Industry:
Financial Institution
Department:
Corporate and retail business
Deployment:
On-Premises