Automation for Banks Using Intelligent Document Extraction

Automation for Banks Using Intelligent Document Extraction

Companies have traditionally edited documents manually, but with the advancement of digital technology, we have opened up ways to make documents more efficient. By manually searching thousands of pages of documents, including financial documents such as bank statements, tax returns, and other financial information, banks can save millions of dollars in time - and make processes more time-consuming. This reinforces the idea that it is not necessary to extract and store machine-generated text or scanned documents from other sources.

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Importance of Automation for Banks

In the banking and financial sector, large amounts of documents are stored and archived. Why do banks need to automate and process them intelligently, and why does it cost money?

For starters, knowledge workers can be freed from the burden of handling bank forms manually immediately. Banks and financial firms turn their attention to manual document processing, which is found in many other industries such as healthcare, education, and healthcare if they want to take advantage of paperless work.

There are departments that use physical paper and require constant controls and audits to maintain the quality of work, but intelligent automation of the process frees employees and helps commercial banks to ensure compliance.

Automation Solution for Banks

Automation allows banks to longer need redirecting key data from one platform to another, and you can support customer support by improving the customer experience with a single, easy-to-use interface such as a mobile app or web app.

Gleematic is an easy-to-use interface to extract specific data from a variety of data sources, including bank accounts, credit card information, and financial data. With each element of the extraction technology, you can decide what value you want to extract and how much of it to use.

If you prefer to analyze different parts, the advanced software of Gleematic digitizes whatever you want, and you end up with an accurate and reliable document that you can check anytime, anywhere.

By automating document identification, Gleematic can help streamline and automate some of the most important components of KYC compliance. This technology makes filing documentation much easier and more efficient than ever before. It helps you reduce your workload and ensure that you meet your KYC requirements while providing a more accurate risk assessment.

Overall with the assistance of Gleematic, the process will faster, account staff will have more time to work on other tasks and there is no need for overtime. Staff will be happier too.

Cognitive Automation for Banks Using Intelligent Document Extraction RPA Singapore Vendor Software Gleematic UiPath Automationanywhere

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Written by Elsa Ajarwati

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