Published by Gbaf News
Posted on November 17, 2017
10 min readLast updated: January 21, 2026
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By David Ronald, Marketing Director at Foxit
As the world goes digital, the banking industry is being forced to undergo change quickly in order to keep pace and meet customer demands. At the same time, financial institutions are facing intense pressure to reduce costs while increasing productivity and finding new ways to streamline processes and improve operations. All of this must be balanced with the fact that no other industry, aside from government, has to deal with more stringent and difficult regulations when it comes to managing information.
Some financial institutions are turning their attention to document management as area that can improve all these areas. Banks are finding that moving on from old, antiquated systems and adopting smart, new document management solutions can greatly impact their ability to stay competitive and increase output. One of the key benefits of this move is helping banks transition online in order to help manage and rise above the current document barrage the industry faces. The sheer number of documents coming from both internal and external parties needed for financial institutions to run their day-to-day operations is staggering and that number is only going to increase. In fact, a recent study by the BPI Network, a San Jose-based market research agency, found that 91 percent of business professionals said the pace of document creation would either increase or stay the same within their organizations. That same report also found that 83 percent of respondents agreed that the accelerated pace and connectivity of business will require them to produce, share and manage more documents in the coming years. In the financial sector, where every process and activity must be documented, those numbers are surely to be even higher.
In this complicated transition from paper everything to digital, one of the most useful tools in the process is the Portable Document Format (PDF). This might surprise you if you have used PDFs for any length of time as this standard has remained fairly unchanged for decades. But a recent surge in PDF innovation has lead the business tool to becoming a key ally for organizations looking to move their processes away from paper and onto digital platforms.
PDF is a perfect fit for banks looking to digitize files and store them electronically in order to avoid the enormous space requirements, cumbersome storage and difficulty accessing documents that massive paper files have created. New PDF solutions, embedded with intelligence,enable a wide range of capabilities, including document locating and tracking, file update notifications, shared and synchronized reviews, remote file protection, data collection and much more. The benefits of these new innovative PDF tools are made even better as they are available without the use of costly, complex, kludgy old legacy document management systems.
The benefits of leveraging new innovative PDF technology in financial institutions are vast. Here are a few ways banks are starting benefit themselves and customer:
As great as all this might sound, the inevitable question becomes how utilizing these new digital PDF tools will affect security. When you consider the number of paper-based processes in place in financial institutions and their core challenge of protecting the financial data of their customers, no other industry has more on the line in terms of security.
As it turns out, these new digital PDF solutions have actually become a security asset for those banks instituting them. Because of the improvements in the PDF technology, documents become more trackable, controllable and secure. This has been done through embedding PDF documents with an identity and connecting them in the cloud, allowing government agencies more control over their documents and confidential data—even after a document leaves the premises. In fact, creators can track the usage of their document and security features will follow it no matter where it goes.
By David Ronald, Marketing Director at Foxit
As the world goes digital, the banking industry is being forced to undergo change quickly in order to keep pace and meet customer demands. At the same time, financial institutions are facing intense pressure to reduce costs while increasing productivity and finding new ways to streamline processes and improve operations. All of this must be balanced with the fact that no other industry, aside from government, has to deal with more stringent and difficult regulations when it comes to managing information.
Some financial institutions are turning their attention to document management as area that can improve all these areas. Banks are finding that moving on from old, antiquated systems and adopting smart, new document management solutions can greatly impact their ability to stay competitive and increase output. One of the key benefits of this move is helping banks transition online in order to help manage and rise above the current document barrage the industry faces. The sheer number of documents coming from both internal and external parties needed for financial institutions to run their day-to-day operations is staggering and that number is only going to increase. In fact, a recent study by the BPI Network, a San Jose-based market research agency, found that 91 percent of business professionals said the pace of document creation would either increase or stay the same within their organizations. That same report also found that 83 percent of respondents agreed that the accelerated pace and connectivity of business will require them to produce, share and manage more documents in the coming years. In the financial sector, where every process and activity must be documented, those numbers are surely to be even higher.
In this complicated transition from paper everything to digital, one of the most useful tools in the process is the Portable Document Format (PDF). This might surprise you if you have used PDFs for any length of time as this standard has remained fairly unchanged for decades. But a recent surge in PDF innovation has lead the business tool to becoming a key ally for organizations looking to move their processes away from paper and onto digital platforms.
PDF is a perfect fit for banks looking to digitize files and store them electronically in order to avoid the enormous space requirements, cumbersome storage and difficulty accessing documents that massive paper files have created. New PDF solutions, embedded with intelligence,enable a wide range of capabilities, including document locating and tracking, file update notifications, shared and synchronized reviews, remote file protection, data collection and much more. The benefits of these new innovative PDF tools are made even better as they are available without the use of costly, complex, kludgy old legacy document management systems.
The benefits of leveraging new innovative PDF technology in financial institutions are vast. Here are a few ways banks are starting benefit themselves and customer:
As great as all this might sound, the inevitable question becomes how utilizing these new digital PDF tools will affect security. When you consider the number of paper-based processes in place in financial institutions and their core challenge of protecting the financial data of their customers, no other industry has more on the line in terms of security.
As it turns out, these new digital PDF solutions have actually become a security asset for those banks instituting them. Because of the improvements in the PDF technology, documents become more trackable, controllable and secure. This has been done through embedding PDF documents with an identity and connecting them in the cloud, allowing government agencies more control over their documents and confidential data—even after a document leaves the premises. In fact, creators can track the usage of their document and security features will follow it no matter where it goes.
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