Modernizing Operations at Bank of China
The Bank of China uses Laserfiche to automate workflows, meet compliance requirements and take a modern approach to banking operations.
The Bank of China as a group was founded in 1912 and is the second oldest bank that is still in existence. The bank is the fifth largest bank by capital in the world as of this year. And we are proud to be the most globally oriented. We have over 500 employees and our asset is over 50 billion. The bank started using Laserfiche over ten years ago and at first Laserfiche was used as solely a storage for old banks document files as a sort of a hard drive that’s been over ten years.
And when I first joined the bank about four years ago, I started looking more into the other service offered by Laserfiche and stumbling to that Laserfiche offered a lot more just repository for documentation management, more of a process management, workflow management. So that’s where I submitted the idea of paperless to the bank. We got rid of 90% of paper and also helped us improve 30% of the manual work and more importantly, Laserfiche also help us meet a lot of regulators compliance requirements.
My favorite part of Laserfiche I think is the people. Laserfiche helped the bank catch up about 15 years that we were lagging behind, especially when we are talking about paperless, you know, automation manual work. I’m Frank Chen and I’m using Laserfiche to empower Bank of China.