Going Paperless: A Strategy for Financial Institutions

Kumaravelu I

Industry Advisor and Transformation Head, Banking, Financial Services and Insurance, TCS

Surajit Kar

Transformation Consultant and Technology Head, Banking, Financial Services and Insurance, TCS

Kamruzzaman Shaikh

Solution Architect, Banking, Financial Services and Insurance, TCS

Adopting paperless banking as a key element of digital transformation

Globally organizations are trying to reduce their carbon footprint and financial institutions are no exception. Banks, however, use large amounts of paper in their operations and customer interactions. Reducing carbon footprint in banking by going paperless has thus become a high priority for them. Paperless banking will not only help save the environment but also cut operational expenses. In addition, it will help meet customer expectations around a secure, superior, and personalized digital banking experience.

Given that paperless banking is emerging as one of the cornerstones of digital transformation, banks must adopt a holistic approach and define a unified paperless strategy that aligns capabilities with operational practices. Banks must adopt the 3E (Enable-Engage-Enrich) approach that focuses on eliminating paper, improving customer experience, and driving growth through digital services. The key elements of the 3E strategy include:

Enable – simplify and automate to create value
Engage – redirect customers to digital channels
Enrich – deliver exceptional digital experience

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TCS is here to make a difference through technology.

We deliver excellence and create value for customers and communities.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

Global knowledge. Local support

Going Paperless: A Strategy for Financial Institutions

Adopting paperless banking as a key element of digital transformation

Transformation starts here

Find out more

TCS is here to make a difference through technology.

We deliver excellence and create value for customers and communities.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

Global knowledge. Local support

Adopting paperless banking as a key element of digital transformation

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Transformation starts here

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