Bank automates document processing
Client
The International Bank
Description
The bank engages in all types of banking and financial service activities.
Industry
Finance & Banking
Location
South Africa
KEY ISSUES
To prepare financial reporting, the bank’s employees process 500 types of files. The data in the files is the same entity when it is loaded into the corporate system, but is called differently.
The goal of the project was to reduce manual processing of documents to standardize the data. At the beginning there are only a few experts who know where and what data to retrieve.
Solutions & Key ResultsThe process is automated by 90%. 98% of data are extracted automatically with 96% accuracy. The figures are growing as the robots are constantly trained on “historical data”.