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Imaging Spreads through Companies as Doc Management Tool.

Mortgage Servicing News

| April 01, 2005 | COPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Bellevue, WA -- Once companies start imaging documents, the benefits of spreading imaging across an enterprise become more apparent.

At least that's the way technology provider Captaris sees it. And their customers seem to be backing them up, expanding the use of once-targeted imaging technology wherever document storage and retrieval needs can be found.

Dan Lucarini, a marketing executive at Captaris who works with the firm's Alchemy software, told MSN that imaging technology is appropriate for any business that is inundated with paper and trying to automate procedures. As such, imaging technology has been widely embraced by mortgage lenders and other financial institutions. Those industries are not only paper-intensive, they are also heavily regulated, he said.

Among the company's clients are firms like Cannon Electric Federal Credit Union, Countrywide Financial Corp. and Lenders Limited. The Alchemy product is particularly popular with credit unions, with more than two dozen credit unions currently using it, Mr. Lucarini said.

"It's not just that the company is looking to improve a business process and save some money. Underneath that, it's also about the need to keep these documents in a compliant fashion," Mr. Lucarini said.

He said version 8.0 of Alchemy includes additional functionality related to mortgage lending as well as beefed up records management capabilities. The system helps users ensure that every step of document processing is monitored and audited to enhance regulatory compliance.

"More and more, government agencies and auditors are asking, can you track that document every step of the way once it comes into your company?" Mr. Lucarini said.

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