EZOFIS | Document Management System Malaysia | IDP Document Extraction Malaysia | Workflow Automation Malaysia | EDMS Malaysia

Background

The bank in question is a prominent financial institution known for its extensive services in property financing and development projects. With a portfolio that includes collaborations with over 1,000 property developers, the bank processes thousands of payments claim each month. These claims are backed by documents such as architect certifications and billing statements, which are submitted after developers complete specific stages of property construction. The bank’s commitment to timely and accurate disbursements has been a cornerstone of its reputation in the industry, but the manual handling of these documents was beginning to strain their operations.

Challenges

The bank's traditional document processing workflow involved manually reviewing, verifying, and entering data from the documents received from developers. This labour-intensive approach not only consumed significant amounts of staff time but also introduced a higher risk of errors due to the manual nature of data entry. Employees had to eyeball each document, extract the necessary information, and then input it into Excel sheets or the bank’s core banking system. This manual process was cumbersome, prone to inconsistencies, and resulted in delays in the payment disbursement cycle. The bank needed a solution that could automate the verification and data extraction processes to reduce workload, improve accuracy, and accelerate the payment timeline.

Solutions

To address these challenges, the bank implemented our Intelligent Document Processing (IDP) solution. Our IDP system was designed to intelligently extract specific information from the submitted documents and integrate it directly into the bank’s backend systems with minimal human intervention. The solution allowed users to verify the extracted data and make adjustments, if necessary, before finalizing the document. This streamlined the verification process and ensured that all documents were accurately processed. Additionally, the IDP system securely stored the verified documents in a cloud-based repository, making them easily accessible for future retrieval and audits, thus enhancing the bank’s compliance and document management capabilities.

Transforming Document Management for Asia’s Largest Financial Group

Background

Challenges

Solutions

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