Finance

Printing Security for Financial Services

The financial industry has had a difficult decade. Executives are not only having to adapt to constantly changing regulations, but also new technologies that impact how business is done (mobile communication, social media, etc.) While recent surveys are beginning to show that many organizations are returning to growth strategies, most in the financial industry are still emphasizing cost cutting.

The good news is that Managed Print Services (MPS) can do both for a financial organization, whether it is a retail bank or investment broker. Below are three of the many advantages an MPS provider can offer:

Cost-Savings

An MPS provider takes advantage of bulk purchasing to ensure that their clients receive the best prices for their supplies. Managed, proactive ordering means that money is not wasted on supplies that aren’t needed or on downtime when supplies run out.
Advanced software enforces business (and regulatory) rules to prevent excessive or unnecessary printing. Automated efficiencies can reduce costs by defaulting to double-sided or low-resolution printouts based on document type.
Automated print routing can direct print jobs to the most efficient printers.

In an industry as document heavy as the financial industry, even basic print management can immediately reduce costs and improve efficiency.

Security

A 2010 survey completed by HP’s Economist Intelligence Unit (EIU) showed that 37% of organizations polled are improving their information security strategies. However, only half report that they have dedicated personnel or departments to oversee information security. A MPS provider can offer valuable risk-reduction services for an often-overlooked area of information security: Printer networks and Multi-function copiers. Authentication, encryption, access control, and hard drive erase services are all critical tools for securing sensitive information and meeting regulatory privacy demands.

Better Customer Experience

The HP EIU study also revealed that better customer service was chosen as the single most important benefit of improving information strategies. Financial organizations that take advantage of managed print services can:

Ensure accurate or even customized printed customer statements
Streamline processes for transferring documents in paper and electronic forms between multiple offices, agencies, and customers
Automate distribution, tracking, and archiving so customer forms are never lost or misplaced

In the wake of the financial crisis, financial institutions must continue to find ways to manage expenses and improve information flow. A Managed Print strategy can offer beneficial cost-cutting efficiency, while also adding features and benefits that will improve document management and customer satisfaction

HP has printing and imaging security solutions designed specifically for banks, brokers, accounting firms and others in financial services.

HP and TROY MICR Printing Solution— This solution ensures checks and financial documents are processed easily while protecting against forgery and alteration.

Document Capture Solutions—HP can help your business properly track and archive credit and banking applications, insurance claims and other financial accounting records.

Let us manage it with our comprehensive solutions specific to financial services.