Magazine article American Banker

From New York to Holland, Loan Documents by E-Mail

Magazine article American Banker

From New York to Holland, Loan Documents by E-Mail

Article excerpt

From New York to Holland, Loan Documents by E-Mail

Some large banks are finding that within their existing electronic mail systems lie revenue-producing opportunities.

Electronic mail, or E-mail for short, is a common fixture at banks with more than 20 computer terminals. The technology - which has been around for more than 15 years - has typically been used for sending short, routine messages between employees.

But recently, a number of institutions, including the Dutch giant Rabobank Nederland, have begun using electronic mail to send complex business documents quickly between offices.

Coping with Rising Volume

Rabobank Nederland, with $100 billion in assets, is the 42d-largest banking company in the world. It has become a more prominent power in the U.S. credit market in recent years, largely because of its strengths in agricultural lending.

Since early this year, Rabobank has been E-mailing credit applications from its U.S. headquarters in New York to the home offices in Utrecht - and dollar volume has doubled.

The system was developed by American Telephone and Telegraph Co. The applications were previously sent by courier or fax.

For PCs and Mainframes

"Our loan growth is directly linked to this system," said Edward DeRosa, vice president of information systems in the New York office of the $100 billion-asset Rabobank. "Without changing our old systems, our growth would definitely have been impeded."

The AT&T software in use at Rabobank can run on personal computers or mainframes, depending on the size of the sending office. …

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