Cheque Processing Automation case study

Industry - Leading Banking Services

Implementation Time - Within 12 WEEKS *

Key Challenges

Processing cheques manually for validation to complete the transaction was time-consuming also susceptible to human errors.

Making and checking decisions are made by numerous branches and back-office teams to process it manually
For 50000+ daily transactions of 6-7 types across 1700 branches taking an average of 10 minutes to complete the transaction
Complex multiple data sources were manually correlated
Involvement of several applications in the process, including legacy systems and online portals

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The solution was build using RPA, OCR, and AI to automate the complete cheque processing that works with the existing banking system with ease.

Customer/Branch user uploads the cheque and data into the Mobile application
Now the OCR comes into action to extract data from the uploaded documents
Allowing RPA to perform numerous handshakes with the CBS system and provides data to AI Engine based on the data validated
Customer/Branch user then gets a confidence scorecard from the AI-Engine
He Approves/Reject case after checking the same on the Screen
Resulting, completion of the transaction was a successful

The company was able to reap significant benefits from the solution.

Following are the key results of implementing an RPA and AI-based solution for cheque processing automation.