This top 10-ranked global investment bank used AccuRoute CloudFAX to consolidate their fax infrastructure from six disparate fax providers to one centralized cloud fax system. The AccuRoute team helped them to digitize records, eliminate legacy fax machines, maintain existing integrations, and dramatically increase productivity. Most importantly, the client is now compliant with federal mandates such as SEC 17(a), Sarbanes-Oxley (SOX), and Basel III.

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The Challenge

This large, top 10-ranked global financial institution needed a solution to address its compliance requirements pertaining to the Security and Exchange Act of 1934—specifically its recordkeeping requirements of Section 17(a), as well as Sarbanes-Oxley and Basel III. Although the client had already updated protocols around email, instant messenger, and phone communications, their fax infrastructure remained disjointed and spread across 6+ fax providers. With legacy fax processes in place, point-to-point faxing from MFPs and fax hardware left physical paper documents at risk, and information contained within faxes needed manual intervention to add them tithe correct workflows and ensure the correct end destination

• Need to comply with SEC 17(a), Sarbanes-Oxley and Basel III​
• Consolidation of fax infrastructure including 6+ fax providers​
• Solution must maintain existing integrations to provide minimal change and impact to everyday users​
• Multi-national local lines required for 10+ countries

The Solution

AccuRoute CloudFAX’s technology easily integrated with this worldwide bank’s existing systems, providing everyday users with minimal change and impact to consolidate fax traffic to and from all sources through a single IT-controlled infrastructure. The bank said goodbye to multiple fax providers, benefiting from one standardized cloud fax experience and one dedicated customer support team. AccuRoute CloudFAX also worked seamlessly with this global bank’s existing systems. Now users can quickly infuse documents into the system, then automatically queue for routing to existing workflows and recipients while OCR technology disseminates key data points such as account number, loan type, or account holder name to get the document to the right place.

• Recognized as first SEC compliant infrastructure​
• Consolidation of all fax providers to AccuRoute CloudFAX​
• Combination of both desktop and API-based faxing​
• Maintained existing integrations and easily swapped new service into use

Business Impacts​

• Successfully running high-volume financial transactions with critical delivery windows​
• Continued support for SEC compliance requirements​
• Ability to stand up local lines in various countries in a moment’s notice​
• Severely reduced the IT burden that the previous over-complicated fax environment required

Ready to dive in? Read our blog to learn more about the benefits of online vs. traditional fax.

There’s more work to do.  See how AccuRoute integrates with leading MFPs to increase access to time-sensitive materials.

Expand your efforts. See how hybrid and cloud fax technology are helping organizations strengthen security and enhance communications.