FAXCOM in Finance
Fax Servers are an integral and essential tool for the financial services industry. A significant volume of transactions and paper documents flow through the operations of financial services organizations every day. Biscom's FAXCOM Servers are used by many companies in this industry when there is a need for reliable, high-throughput fax processing. FAXCOM Severs support a wide variety of specialized financial services applications.
Mortgage Processing
FAXCOM Servers are used by major banks and mortgage lenders to handle the high volume of documents these firms process each day. These firms receive mortgage applications and closing documents and send out rate quotes, rate confirmations and loan approvals. Traditional fax machines can be replaced by FAXCOM Servers so that documents are received electronically directly into data storage. Once the documents are received, they can be handed off to workflow and document processing systems. This entire process is paperless.
Insurance Claims Processing
Major insurance providers use the FAXCOM Server to process claims forms as they are received, and to send outbound confirmations of insurance eligibility and policies. Software that works with FAXCOM Server can provide capabilities such as automated data extraction and bar code reading of forms-based documents, for advanced inbound delivery options. For health insurance forms, FAXCOM Server generates an audit trail as required by HIPAA regulations.
Brokerage
FAXCOM Servers are used to distribute analyst research reports and hard copy trade confirmations. For compliance with Sarbanes-Oxley regulations, FAXCOM Server archives sent and received documents for easy retrieval.
Consumer Credit
On-demand credit reports and notification of approval/denial of credit applications are examples of documents delivered using FAXCOM Server in Consumer Credit applications. FAXCOM Server is also used to deliver on-demand account statements and notifications to vendors of customer disputes of charges.
Biscom has an established track record in Financial Services. Many of the country's largest and well known financial services organizations depend on Biscom for Document Delivery. Commercial Banking, Mortgage Banking, Consumer Credit, Brokerage, Insurance, and Mutual Fund companies operate some of Biscom's highest port density FAXCOM Server implementations. Financial Services organizations demand high-throughput performance. With hundreds of thousands of documents processed per day, efficiency is essential. Biscom delivers on these requirements with the FAXCOM Server, also meeting demand for Reliability, Scalability, and Flexibility.
