Digitize processes to radically reduce operational costs and risk while improving customer experience, data quality and process transparency.
Streamline and accelerate the customer experience by automating front to back office gathering, enrichment, validation and transmittal of data, such as customer identity, income and employment records.
Anti-Money Laundering (AML)
Catch money laundering and fraudulent transactions with fewer people by automating the collection of transaction details and applying machine learning to analyze results.
Know Your Customer (KYC)
Accurately verify customer identity through the gathering and matching of customer-provided data to known and researched information, creating a digital audit trail of research evidence to meet regulations.
Collect and extract financial covenants, pricing grids and other key data from loan documentation such as credit agreements
Automating Trade Finance Transaction Processing
Trade Finance is the financing of domestic or international trade between buyers and sellers of goods or services. Banks act as intermediaries of these transactions. Despite the vital importance of this service and the importance of speed and precision, manual paperwork extraction and reviews create delays and errors. Documents such as invoices and bills of lading travel from shippers to banking operations teams for a range of compliance tasks, including sanctions checks and proper buyer and seller apportioning. Even the most efficient banking operations struggle to deliver an ideal customer experience.
Automation of end-to-end process
Fewer people inolved
Regulated: Foreign Trade Policy / DGFT, FEMA, banking (KYC), taxation, and more
Complex: delayed collections, loans, inter-bank, cross-border with country variations
Cross-system: involves multiple core systems
This “scrutiny” process is time consuming and laborious, but customers expect banks to process these transactions as quickly as possible so the goods/funds can be released.
WorkFusion automates the digitization and categorization of unstructured documents, extracting and matching relevant data and processing it into core systems, allowing banks to transact quickly and accurately.
Accurate digitization of unstructured source documents
Core system application integration with RPA bots
Machine Learned exception management
Learn more about the products featured in this solution