Lengthy outward remittance processing due to delays caused by manual data entry and scrutiny.
Implementation of automated and streamlined outward remittance processes to significantly reduce processing time and enhance operational efficiency.
The bank introduced Marvel.ai, an AI-based intelligent document processor into its outward remittance process.
Marvel utilizes advanced technologies such as artificial intelligence (AI) and machine learning (ML) to enable automated data extraction, intelligent data validation, and efficient transaction processing.
Enabled easy extraction, analysis, and transformation of unstructured data from various documents.
Over 95% of OCR accuracy.
Eliminated the need for the maker process.
Easy accessibility of structured data for scrutiny and verification.
Offered insights and suggestions during the scrutiny process.
Dramatic reduction in transaction processing time from 50 minutes to just 5 minutes
Complete elimination of the manual maker process
>95% accuracy ensured, this made the scrutiny and verification process easy
Multiple integration options ensure process continuity.
< 3 months immediate return on investment guaranteed
< 4 weeks for implementation, enables fast and efficient deployment.
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