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Solution for Bank Account Creation Using OCR
by Eclatprime Digital
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Solution
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Summary
Summary
Overview
Overview
The banks encounter huge volumes of new-account-creation-application forms. It is a time consuming process to manually verify information and capture into system and hence this causes unmanageable backlog resulting in poor customer experience. Also, there are very high chances of human errors leading to rework.
Key solution processes:
• A customer submits a physical form that has details required for bank account creation.
• The physical form can be scanned using a hardware and the soft copy can be placed in a centralized location.
• The bot developed by Eclatprime continuously monitors the centralized location for any such new requests.
• The bot automatically extracts information using OCR and creates a record for bank executives to jump-start the account creation process.
Solution features:
• Implemented on UiPath using 2021 version.
• Continuous monitoring of new account creation requests.
• OCR capability to process information and digitize the same.
• Business validations, decision making & exception handling w.r.t. the various ways the customers could have captured data.
• Automatic routing to new request records to different departments.
• Hybrid architecture – both attended and unattended processing.
Licensing of the solution:
• The solution comes with commerical license from Eclatprime Digital.
• The license cost would be on case-by-case basis depending on the size and scope of the need.
Features
Features
Business benefits:
• Jump-start to implementation thereby reducing time-to-market.
• Intelligent document processing leading to reduced FTEs increased ROI.
• Complete automation avoiding clutter of documents - physical or soft copies that otherwise get into backlog.
• Very high accuracy reducing rework and errors.
• High customer satisfaction due to improved turn-around time.
• Easily scalable as bots can be trained according to ever-changing needs.
Additional Information
Additional Information
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