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Document Management solutions in
Banking

Quantic Solutions helping Banks go digital and automate over 100 processes

Document management is a crucial aspect of the banking industry, which deals with large volumes of documents on a daily basis. In banking, managing documents efficiently and securely is essential for compliance with regulatory requirements, maintaining customer privacy, and ensuring operational efficiency. Document management solutions in banking typically involve the digitization of paper documents, advanced search and retrieval capabilities, and robust security features to safeguard sensitive information. With the increasing adoption of digital technologies, document management solutions in banking are evolving rapidly to keep pace with changing business needs and customer expectations. Effective document management in banking can help improve customer service, reduce operational costs, and enhance compliance with industry regulations.
Case Study
Asia’s largest financial group

How does the Financial Group Automate the workflow?

In the banking industry, document management plays a crucial role in ensuring that confidential and sensitive information is handled and stored securely. In this case study, we will look at how a large banking institution leveraged document management to streamline their processes and improve efficiency.

Heatmap for Banking processes

Automation potential
HIGH
Automation potential
MEDIUM
RISK & COMPLIANCE LIFE INSURANCE OPERATIONS CONTACT CENTER SALES & LOAN PROCESS
KYC &. AML From rule based to learning AI Setting up a life saving from web Account statements Classifying customer messages by utilizing AI Making changes to a loan pay back schedule
Real time analytics with RPA Early withdrawal Serving death estate Enhancing after sales processes Online loan application
BAFIA and contract update & archiving Closing a Pension Savings account Blocking a card Updating customer address Mortgage loan pre handling
LOG data for audit trail Make a monthly saving to a Pensiion Savings account Family onboarding Customer transfers between branch offices Pre handling of fast credit applications
Sanction Screening Month end recurring accruals Closing an account Real time analytics with RPA
Support PDPA compliance with RPA Real time analytics with RPA CSAS feedback loop

Process examples

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RISK AND COMPLIANCE
This field has great potential for the deployment of robotics and intelligent automation.
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SALES PROCESSES
The sales process in branch operations and especially on mobile devices is a prime target for applying robotics as a tool.
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BANKING OPERATIONS
The application of robotics often starts with operations and results in a stronger and more efficient back end.
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CONTACT CENTER
Robotics enhanced with AI can be used to transform the way the Contact Center handles customer requests.
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FINANCIAL ADMINISTRATION
Robotics can enable faster and more effective processes within the bank’s financial administration.
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MUTUAL FUNDS AND LIFE INSURANCE
Robotics can be applied to enhance fund transactions from the web to the backend system.
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Automation can be utilized to improve accuracy, increase sample frequency, and it allow humans to focus on non-routine tasks such as the analysis of exceptional cases.

The most valuable automations delivered in this area include: Know your Customer (KYC); Anti-Money Laundering (AML) screening; authorities’ inquiries; monitoring of payment transaction; the audit trail; and compliance.

Quantic Solutions works with banks to deploy robots that can enable a faster response to customer requests; process online loan applications, or complete pre-handling of mortgage applications; and deliver fast credit applications.

Our successful robotics tools include loan certificates, overdraft notifications, rescheduling of loan payments, and month-end closing procedures.

A wide range of options are available from delivering balance statements for an estate to managing family onboarding.

Successful handling of customer transfers between branches; updating addresses; closing accounts; sending notifications to safety deposit box owners, blocking accounts; delivering passwords and security codes, have all been automated for increased efficiency. RPA can also manage customer feedback and satisfaction data for processing by the relevant stakeholder at the bank.
In a situation where the amount of emails or other written contacts is large, you can secure a faster response to a customerby classifying incoming customer messages utilising AI tools and automating the most common tasks. This method speeds up priorisation of the important and urgent inquiries to improve customer satisfaction.
This includes validation of master data accounts; ensuring the completeness and accuracy of interface transfers between subledgers and GL; preparation, approval, and posting of recurring journal entries; preparation of supporting documentation for month end journal entries; revaluation of assets and debts based on group accounting policy; reconciliation of accounts after month end closing; analysis of month end account balances based on predefined criteria; preparation of monthly management reports, Real Time Analytics; automated accounting document archiving; and indirect or direct tax automation proceses are all processes managed by RPA.
This includes registration and revaluation of fund accounting, as well as generating annual customer reports.

In Life Insurance robotic automation is used to set up a savings account from the online interface to the back end, handle early withdrawals or closure of a pension account, manage monthly savings plans for pension savings and secure month end recurring accruals.