Contracts, policies, customer records — financial institutions handle a lot of documents. But what happens when you replace stacks of paper with paper tablets?
Mainstreet Credit Union, a nonprofit financial institution based in Ontario, Canada, worked with us to find out. Our 10-week pilot suggests that a paper tablet can save the average employee working in the industry nearly two and a half hours a week.
Contracts, policies, customer records — financial institutions handle a lot of documents. At Mainstreet, we found that employees spent more than two and a half hours a week on reviewing, editing, and sharing documents. Mainstreet isn’t an outlier: research suggests working professionals spend as much as 20% of their workweek on document management.
Fixing this issue is more complicate than just scanning stacks of papers. Any new device used for reading and reviewing documents needs to meet the financial industry’s stringent privacy requirements, so sensitive customer data remains protected. The devices should also last for at least three years to be worth the investment — and be an enjoyable tool for employees to use, too.