Cheque Processing Automation

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.

Some of the key challenges were:

  • 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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Our Solution

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

Automation Benefits

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.

  • Annually, manual labour is reduced by 75%
  • Reduced processing and quality assurance checking times
  • Service Levels have improved significantly.
  • Reduced operational costs by a considerable amount
  • Process standardization increased
  • Customer experience improved.

Want to learn more about how our solutions can help you?

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