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Testimonial: Stearns Bank

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TESTIMONIAL Stearns Bank Darren Lowe VP, Information Technology FINANCIAL | ST. CLOUD, MN "Prior to M-Files, if a customer opened a checking account at one time and applied for a loan at another, they would have to provide a number of things twice, such as a copy of their driver's license, since our customer data was stored separately and not easily interchangeable between departments. Now once a customer record is created, it is stored centrally in M-Files so everyone at the bank can easily access and augment the customer record with additional documents such as loan applications, legal papers, financial statements, etc. With all of our documents now residing in a CENTRALIZED REPOSITORY, it doesn't matter which one of our 13 branch locations or dierent departments created the file, it is still easily accessible. This new process makes us more efficient while enhancing and improving the customer experience." "We transitioned to M-Files from OpenText because we were experiencing a lack of consistency in how our electronic documents were stored and managed. In addition to dealing with duplicate versions of documents, information was difficult to locate and files would often be lost. Now with M-Files, we have a consistent structure and process for organizing and MANAGING DOCUMENTS that is nearly impossible to deviate from. We are no longer storing duplicate files that take up expensive space on the servers, wasting time searching for documents or losing important paperwork." "We're required to create quarterly reports on any loans that could potentially go to default, and the WORKFLOW CAPABILITIES in M-Files have enabled us to streamline the complex multi-step approval process for these reports. Previously we were going back and forth between hardcopy and electronic versions and printing and scanning documents to get the appropriate signatures for approval. Now with the workflow and electronic signature capabilities in M-Files, our quarterly loan reports move smoothly and quickly through the review and approval process." "As a financial institution, we have several industry regulations we must comply with and we are periodically audited to ensure we are in compliance. Preparing for our audits is much more efficient with M-Files. We can automatically flag documents that are required for the auditors and they can easily review our documentation online. We have reaped substantial time savings by not having to copy information for the auditors, and they do not have to sort through duplicate files like in the past. M-Files has made AUDIT MANAGEMENT a much simpler and faster process." m-files.com 972.516.4210

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