The challenges with document processing
Banking and capital market companies worldwide process millions of documents daily across the value chain. These documents can range from simple standard documents like KYC documents, identify proofs, forms to more complicated documents like contracts, legal documents, trust documents, financial reports and many more. For example, in a loan origination process there are multiple documents that need to be collected, sorted and processed at every stage right from the customer on-boarding to credit decision and underwriting, servicing to compliance management. Similarly, capital market participants handle millions of document pages each year while processing business transactions.
Not only do these firms face challenges in efficiently processing large volumes of documents, but also in extracting contextual insights from these documents which are critical to day to day decision making.
With customers demanding near real-time response on every request, it is very important for companies to quickly process and make swift decisions with utmost accuracy.
Capgemini can solve this problem through our Cognitive Document Processing solution which allows banks and capital market firms to make faster and more accurate decisions, drive greater straight-through processing(STP), and ultimately reduce costs.
Through a cognitive approach, document processing can be significantly enhanced, freeing up employees for more complex and value-added tasks.
Automate document processing rapidly and cost effectively
Cognitive Document Processing is an end-to-end solution that automates the ingestion, organization and evaluation of documents rapidly, securely and cost effectively. It consists of best-of-breed technology based on machine learning and artificial intelligence bundled with highly optimized business processes to provide expected outcomes for our clients. The solution can comprehend different types of print, including machine print and cursive handwriting, as well as unstructured or structured documents.
Documents are scanned and classified, followed by data extraction and validation. Information is then moved via APIs or RPA into downstream systems like business process management or loan origination, underwriting/credit and settlement to enable straight-through processing.
Capgemini’s Cognitive Document Processing delivers a range of benefits that include:
- Enhanced operational efficiency
- Reduced cycle times
- Reduced total cost of ownership
- Improved customer experience
- Increased quality and compliance
- Reduced carbon footprint
Capgemini is a global leader in intelligent automation. We partner with leading document extraction, recognition and robotic processing vendors to enable the cognitive document processing services for our clients. Additionally, we bring enhanced recognition, machine learning and artificial intelligence capabilities for accelerating document processing to meet business objectives for our clients.
For more details or to schedule a live demonstration, email email@example.com
To learn more about our services, please visit www.capgemini.com/bcm