Mission Valley Bank automates complex business onboarding with DocFox
Mission Valley Bank is automating complex business account opening processes, a challenging task seldom done in the market, particularly among community financial institutions.
SUN VALLEY, Calif., Aug. 19, 2021 /PRNewswire/ -- Mission Valley Bank has partnered with DocFox to digitize account opening for business banking, advancing the bank's trajectory as they build an automated technology layer above their existing core banking suite. "The world has gone remote and is evolving fast and we need to ensure we can innovate at the speed of fintechs which means adopting a new strategy to how we interface with technology." says Tamara Gurney, Mission Valley Bank's CEO.
The bank is working with DocFox to establish a single, intelligent orchestrated system which coordinates onboarding of complex accounts by interfacing with their existing core, document management, CRM, and any other relevant systems. Advances in document analysis combined with workflow technology enable the bank to define unique onboarding journeys for even the most complex of businesses. Documents will be automatically checked for validity, data will be extracted and compared, and any concerns automatically routed to bankers or compliance for review.
"At Mission Valley Bank we have always innovated with the products we provide and the clients we service however we have encountered challenges when considering how to automate complex business accounts. When we started looking for a solution we knew that we needed one that could onboard the most complex of accounts such as high-risk, cash intensive businesses. When we first learned of DocFox and what their system was capable of, we quickly determined that they were the right partner for us - their solution is a real industry first" says Gurney.
"Tamara and her team have been very forward thinking and are building a nimble technology infrastructure allowing them to quickly move in the direction they want to, informed by their own strategy and not their system limitations. It's always energizing to meet such innovative and open minded executives always looking to improve even in established community banks such as Mission Valley Bank" explains DocFox CEO, Ryan Canin.
DocFox is used by over 200 financial institutions to automate their account opening processes. It provides intelligent, highly customized workflows for any type of client. For more information about DocFox and its comprehensive banking technology visit www.docfox.io
DocFox Contact:
Joe Russo
[email protected]
Mission Valley Bank Media Contact:
Carrie Burrell
[email protected]
SOURCE DocFox
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