Founded in 1985, our customer is a leading Asian bank with global operations. It offers a wide range of financial services to both retail and corporate clients and includes mutual funds, life insurance, commercial banking, to stock broking, mutual funds, life insurance and investment banking. It operates through branches and franchisees across India with international offices in London, New York, California, Dubai, Abu Dhabi, Bahrain, Mauritius and Singapore.
The customer receives millions of unstructured documents that its operations team had to process, mostly manually. Trade finance applications were particularly laborious because of stringent regulatory requirements and involves a large number of compliance checks. Over 300 data points across multiple documents have to be cross-referenced with one another. As document volumes rose, accuracy fell. At the same time, the operations team was under pressure to reduce costs.
The customer deployed AntWorks IAP, an Intelligent Automation Platform comprising CMR (Cognitive Machine Reading, AntWorks’ Intelligent Document Processing solution) and AntWorks RPA – Robotic Process Automation. AntWorks’ technology allowed for a complete overhaul of its information-intensive business processes, reduced and, in some cases, eliminated manual work. It cut errors sharply, minimised costs and improved customer satisfaction and engagement. AntWorks has digitised individual touchpoints and removed bottlenecks. The customer has seen a dramatic increase in performance and productivity, is better able to manage compliance risks and, as a result, had increased competitiveness, growth and profitability.
The data is ingested and digitised using CMR+ and AntWorks RPA and delivered in an editable format. The result has been a 75% improvement in business efficiency and fewer delays in payments and shipments. With an 80% increase in accuracy AntWorks has minimised tedious repetitive tasks. Employees have been able to focus on more important, value-adding activities, and the strong, ongoing ROI reflects this. The customer successfully increased its operational efficiency and overall processing capacity.