Bank Statement Analysis

What our customer encountered?

Lost track of data during bank statement analysis due to extreme effort and manual revisions.

  • Data quality degradation during transfers between departments when processing bank statements.
  • The need to digitize and structure bank statement information for future analysis.
  • The challenge of accelerating investment decision-making, improving accuracy, and meeting reporting deadlines.
analysis

The challenges resulted in:

  • Inefficiency and increased effort due to the need to manually reconcile data.
  • Higher risk of errors and inaccuracies in the analysis process.
  • Delays in completing the analysis due to the time-consuming nature.
  • Difficulties in maintaining data integrity and consistency throughout the analysis.

What our customer needed?

An automated and streamlined approach for quick bank statement analysis that saves time, streamlines tasks, and provides accurate data collection.

The Solution

The bank implemented Marvel.ai, an AI-based intelligent document processor into the system.

Marvel’s advanced technology solutions, leveraging AI and machine learning, effectively mitigated challenges, ensuring efficient and accurate analysis of bank statements while meeting specific requirements.

What we delivered?

claims-management

Easy and accurate extraction of data from infinite pages of bank statements

dpb-checker

Prompt decision-making based on extracted data from bank statements.

Processing

Timely performance reporting

risk

Prevented data quality breaches during data transfer by tracking and automatically updating all revisions.

Benefits to the customers

15x faster data extraction speeds up the process, resulting in reduced TAT. 

analysis

Automated manual tasks, allows auditors to focus more on analysis.

90% increased data accuracy

80% improved data quality

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