IDP Use Cases in Banking & Financial Services

25+ IDP USE CASES FOR BANKING & FINANCIAL SERVICES

Automate your processes with Intelligent Document Processing and increase customer satisfaction

IDP - Intelligent Document Processing Use Cases for Banking & Financial Services

 

Generate Customer Risk-Profiling

Generate Customer Risk-Profiling

Auo-capture details from customer questionnaires, validate from different sources on the world wide web, and create a risk score by using intelligent document processing during KYC processing and Loan processing. 

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Mortgage Document Processing

Mortgage Document Processing

Extract data from mortgage forms and supporting documents as well as update the core systems and databases by using intelligent data capture to initiate further processing.

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Financial Instrument Application Processing

Financial Instrument Application Processing

BFSI units have different products. Auto-process application forms for different products and fast track the instrument processing. Improve productivity by 60% with intelligent document processing. 

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Bank Report Detail Extraction

Bank Report Detail Extraction

Banks generate many reports and receive many communications from federal banking authorities. Auto-extract details from these multi-structured reports and expedite processes with intelligent document processing.

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Cheque Image Processing

Cheque Image Processing

Expedite cheque processing with intelligent data capture from cheque images in clearing house queues.

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Fraud Detection using Intelligent Document Processing

Fraud Detection

Intelligent Document Processing allows to bring in paper-form data into the fraud detection engines powered by Artificial Intelligence algorithms. Auto-extract data from unstructured to multi-structured documents and pump it in the fraud detection engines to get a 360 degree view of potentially fraudulent cases.

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Account Opening - IDP Use Cases

Account Opening

Automate account opening by extracting data from paper-based forms and start the account opening process with intelligent document processing. Integrate the data in the core systems. Update the other related systems by using robotic process automation and overcome swivel chair operations.

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Account Closure - IDP Use Cases

Account Closure

Automate account closure by extracting data from related forms and initiate the account closure process by using intelligent document processing. Take the process further by involving robotic process automation to update the information in different core banking systems.

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IDP Use Case - Data Extraction from Annual Reports

Data Extraction from Annual Reports

Auto-ingest data from annual reports by using intelligent document processing to create research reports for smart decision making.

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Variance Analysis - Budget vs. Cost

Variance Analysis - Budget vs. Cost

Auto-extract data from different reports and perform analysis between planned and actual data numbers.

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VAHAN e-Service Automation

VAHAN e-Service Automation

Use intelligent document processing and RPA to auto-extract data from different forms and different third-party sites to auto-validate the vehicle registration certificate.

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Processing Refunds

Processing Refunds

Expedite the processing of refund requests with intelligent document processing and RPA. Release the refund to customer on a fast track after fulfilling number of auto-validations and process thousands of requests.

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Credit Finance Processing

Credit Finance Processing

Use intelligent document processing and RPA to process credit finance. Read the data from the Excel file, log in the CRM, and search for the applicant. Retrieve the black-listed applicants from the credit bureau system and search if the applicant is in that list by using multiple auto-validation logics. Auto-inform the credit finance status and other details to all stakeholders.

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On-boarding of Customer

On-boarding of Customer


Use intelligent document processing and RPA to auto-retrieve data related to the customer from regulatory agencies and expedite onboarding. Validate credit score, ensure legal terms acceptance, and onboard the client to open the account in agreement with banking regulations and policies. Auto-integrate the data with enterprise systems.

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Regulatory Reporting of Customer Data

Regulatory Reporting of Customer Data

Use intelligent document processing and RPA to collate customer data from different sources, and auto-generate a report about the newly onboarded customers for regulatory reporting.

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Bank Account Opening

Bank Account Opening

Use intelligent document processing to ingest data from account opening forms. Use RPA bots to assimilate the data with core banking systems and trigger the release of customer kits.

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Trade Account Opening

Trade Account Opening

Use intelligent document processing to ingest data from account opening forms for Trading, DMAT, and three-in-one Trading-DMAT-Savings account. Auto-validate the data with in-built validations and automatically integrate the data with core banking systems.

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Initial Payment Funding

Use intelligent document processing and RPA bots to auto-ingest data from hard copy of the application form and the initial cheque payment. Automatically integrate the extracted data to the core banking system and generate the account number. Set the triggers for transferring the amount to the new account and customer kit release.

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Term Deposit Funding

Term Deposit Funding

Automatically ingest data from hard copy of Term Deposit application and the initial cheque funding. Auto-validate the extracted details with pre-built RPA validations and create the Term Deposit account. Trigger the further processes automatically, transfer the amount to the Term Deposit account, and generate a certificate.

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Trade Finance Data Entry

Trade Finance Data Entry

Use intelligent document processing and RPA bots to extract data from the exporter's documents. Validate the extracted data from the documents as per pre-defined logic for regulatory compliances, AML checks, etc.

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Email Updation

Email Updation

Use intelligent document processing to extract email ids of customers from Excel file and integrate with the enterprise banking systems.

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Data Extraction & Updation

Data Extraction & Updation

Automatically extract details including cost insurance and freight (CIF), unique identity number (UIN), etc., from paper forms by using intelligent data capture and integrate it with the core banking systems.

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Credit Advising

Credit Advising

Log on to business application and download letter of credit, auto-extract data points such as correspondent and sender, beneficiary, receiver, so on and so forth, release SWIFT payment, and auto-inform the stakeholders about the credit.

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Letter of Credit Advising

Letter of Credit Advising

Generate letter of credit summaries by extracting data from attachments received as Excel sheet by email. Improve the productivity, accuracy, and cycle time.

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Data Capture from Promissory Notes

Data Capture from Promissory Notes

Auto-extract data from promissory notes by using intelligent document processing and integrate it with the core systems.

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Audit

Audit

Download documents from different sources in a central shared drive, auto-extract the required details as per pre-programmed logic, and generate a structured output by using intelligent document processing. The role-based access eliminates unauthorized access to data while conducting audit reporting.

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Core System Entries

Core System Entries

Access service requests from Helpdesk applications in csv files. Auto-extract data from the files and integrate the data in core systems to generate transaction IDs. In case the validations are confirmed then assign the service requests for execution to the relevant department.

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Updation of Contact Details

Updation of Contact Details

Extract customer's contact details from the source document with intelligent data capture and integrate the data in the core banking systems.

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EXIM Document Processing

EXIM Document Processing

Auto-extract data from the EXIM documents submitted for financing a trade by using intelligent document processing, integrate the data with the core Trade Finance system, and trigger further processing.

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What you get:

  • List of use cases across different industries and functions that can be applied in various processes.
  • Real-life case studies on Intelligent Document Processing across different industries.
  • Customer testimonials and additional resources for IDP.

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