Bank guarantee vetting

What our customer encountered?

Manual processing of intricate documents results in delays and bottleneck 

  • Processing multiple intricate bank guarantee documents with distinct formats 
  • Each document required up to 4 hours of manual review
  • Took 1-2 days for the entire processing procedure 
  • Bottleneck in meeting customer demands promptly 
  • Complications in ensuring accuracy and compliance 
bank-guarantee-vetting

The challenges resulted in:

  • Manual and time-consuming vetting process 
  • Inaccuracies and inconsistencies in document processing 
  • Risk of fraudulent content going undetected 
  • Difficulty in meeting regulatory standards 

What our customer needed?

Automated document processing system to streamline the bank guarantee vetting, enhance workflow, and ensure compliance. 

The Solution

Introduced Marvel.ai, an intelligent document processing system

To automate and streamline the bank guarantee vetting process.  

By harnessing advanced AI and ML technology, Marvel automated document analysis, simplified relevant data extraction, and optimized workflows, resulting in quicker decision-making, enhanced accuracy, and improved overall vetting process efficiency. 

What we delivered?

accuracy

High accuracy and high-speed precise parsing of information from intricate documents. 

manual-review

Detection of inconsistencies and errors in extracted data, with flags for manual review. 

farudlent

Identification of atypical patterns and fraudulent content in documents. 

claims-management

Scalable solution for processing a large volume of documents and prioritizing urgent requests. 

tat

Drastic reduction in document processing time 

Benefits to the customers

doc-processing

Document processing time reduced from 4 hours to 5-6 seconds and a maximum of 30 seconds. 

doc-tick

Provides insights for maker and checker to improve decision-making. 

>95% Data accuracy. 

nsc-per-moni

Capable of processing a large volume of data within a minute. 

wealth

Reduced TAT and operational cost 

dpb-AMC

Improved compliance 

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