Manual data entry and scrutiny delays cause lengthy outward remittance processing
A bank was facing challenges with the processing time for outward remittance transactions. Each outward remittance transaction process involved a lot of paperwork and manual data entry prone to errors and delays, taking up to 50 minutes per transaction. Additionally, the scrutiny process followed by the verification of transaction details of the remittance was also tedious and time-consuming.
The bank introduced Dolphin.ai into its outward remittance process, where the intelligent document data processor system:
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