Remember those days when you relied on a traffic department? When your marketing creative was circulated to “approvers” by an individual who actually brought each stakeholder a physical copy of the outgoing creative for their review. Later, physical trafficking yielded to the Worldwide Web and files were shared “electronically” via email. Do you also remember how, almost invariably, the ad would go out with some mistake in it, largely because everyone was busy and they simply weren’t paying enough attention? That kind of humans-in-the-loop approval process was time-consuming, and it involved multiple steps with numerous stakeholders. The result? Bottlenecks, delays, an increased workload for employees, and sometimes, costly mistakes.
Well, obviously, as the old Benson and Hedges tagline told us – unless you’re too young to remember tobacco advertising!? – “You’ve come a long way, baby.” Yes, the avenues available for trafficking work these days – digital marketing content files, in particular – are many. And yet, maintaining your bank’s brand and regulatory agency compliance can still be problematic. Why? Often it’s because stakeholders in the process don’t participate. Too many times I’ve heard from clients that they’ve tried implementing an approval routing system but failed … usually because not everyone is willing to use it. Another factor? Sometimes, there’s a bit of a learning curve to using them – not a steep one, but one that folks just don’t want to contend with.
What’s the solution? An automated approval routing system that is so simple to use that your middle schooler – no offense, middle school students! – could learn to use it in less time than it takes to upload a video to their Instagram feed; one that literally compels each stakeholder to take action, and without a project manager nagging them to do so.
Bank Marketing Center’s automated approval routing system
We know how critical an approval routing system is to a bank’s marketing team. That is why we developed a web-based platform that offers banks a range of capabilities and compliance safeguards. The system is built on a simple-to-navigate portal that functions as a safe, secure and easy-to-access repository for multiple users. There, your marketing team can access – and share – their uploaded marketing materials, such as social media posts, print ads, email campaigns, statement stuffers, brochures, posters, flyers, newsletters, and more.
File review and approval made simple.
As assets in the portal are created or updated, the portal automates all review and approval process notifications and reminders in sequence. With the archiving of all changes and notes, there is no need to try to manage approvals outside the system by, for instance, passing around files via email. The portal notes every touch and logs it automatically with the result that you are instantly audit ready, with all assets stored digitally for as many years as needed. The system also enhances transparency and fosters accountability. Each stakeholder has clear visibility into the process, and can see the status of approvals in real time, view who has approved or rejected items, and understands the reasons behind decisions.
Automating your approval routing is essential for a host of reasons. We’ve embedded the needed compliance checks into the routing workflow to automatically:
- ensure that all necessary documentation is completed and reviewed according to regulatory, as well as brand standards/guidelines
- maintain detailed audit trails of the approval process, providing a transparent record that can be easily reviewed during an inspection by regulators
- enforce a bank’s specific organizational policies and regulatory guidelines consistently across all approval processes, reducing the risk of non-compliance
- evolve and adapt along with a bank’s workflow needs
- enhance the bottom line by increasing go-to-market speed
Conclusion
In the highly regulated and competitive financial services industry, an automated approval routing system offers numerous benefits that enhance operational efficiency, accuracy, and compliance. These systems address critical challenges related to brand and regulatory agency compliance, providing a robust framework for managing approvals systematically and reliably.
By implementing an automated approval routing system like ours, your bank can improve productivity, reduce errors, ensure compliance, maintain brand consistency, enhance transparency and accountability, and ultimately deliver a superior customer experience that will drive revenue.
Bank Marketing Center
Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers — developed by bank marketing professionals for bank marketing professionals — that will help you build trust, relationships, and revenue.
Our automated approval routing system puts our client partners in complete control of their enterprise-wide compliance approval process. We’re also proud of the fact that we currently work with hundreds of financial institutions.
Want to learn more about what we can do for your community bank and your marketing efforts? You can start by visiting bankmarketingcenter.com. Then, feel free to contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.