Harness advanced Ai technologies for smarter, faster Banking & Financial solutions
Financial services organizations face three key challenges: enhancing process efficiency, reducing operational costs, and delivering outstanding customer experiences. Our mission is to help you achieve these objectives.
We offer intelligent automation solutions designed to streamline document processing and optimize workflows. Powered by cutting-edge technologies such as artificial intelligence (AI), natural language processing (NLP), and process mining, our solutions enhance operational productivity while elevating the customer experience.
Where do you think we can use this platform?
Customer Onboarding
In both retail and corporate banking, the customer onboarding process involves handling numerous documents. These documents are often compared with application forms, some of which are handwritten. Traditionally, data entry operators manually input this information into the bank’s systems and verify that the details in the application match those in other submitted documents. This manual process is time-consuming, significantly increasing the turnaround time (TAT) for customer onboarding.
Smart Doc Parser streamlines this process by reading even handwritten documents, automatically comparing the extracted data with other records based on the bank’s rules. This reduces manual effort, saves valuable time, and decreases the overall TAT for customer onboarding.
Know Your Customer (KYC) Compliance
Many banks have faced billions in fines due to non-compliance with KYC regulations. With AI-driven systems, data from all documents can be accurately extracted and processed, performing checks just as a human would. By leveraging intelligent process automation, banks can identify process and content vulnerabilities, ensuring compliance with KYC requirements while minimizing risks.
Fraud Prevention and Risk Management
Potential fraud can be detected by automating tasks such as signature matching and cross-checking addresses between application forms and other documents. Optimizing document validation and verification processes can be seamlessly achieved without human intervention, enhancing accuracy and minimizing risk.
Mortgage Loan Processing
The AI platform can extract data from mortgage loan applications and compare it with supporting documents to identify missing information, data discrepancies, or incomplete documentation. All processing checks are automated to optimize the workflow for loan documents from the moment of submission.
Trade Finance
Banks can leverage AI to extract data from Letters of Credit (LC) issuance applications and cross-check it with supporting documents to detect missing information, data discrepancies, or incomplete documentation. When an LC is issued by the importing bank via a SWIFT message, the AI can read and verify the message for any input errors before automatically processing the data in the bank’s system.
When the exporter submits documents to the exporting bank, the AI system can validate these against the scanned LC and other documents, such as the Bill of Lading, Insurance, and Certificate of Origin. AI can perform a checklist-based validation, providing clear pass/fail indicators for each requirement. This significantly reduces turnaround times, lowers processing costs, and enhances the overall trade finance process for the bank.
Credit Application Processing
You can error-proof the credit application process by extracting data directly from the scanned application documents and validating it against supporting documents. This streamlines the workflow, accelerates credit card issuance to customers, and uncovers inefficiencies in the end-to-end application process.