Traditionally, companies process documents manually, but advances in digital technology have opened up ways to make them more efficient. Banks could save millions of time – time-consuming processes that manually search thousands of pages of documents, including bank accounts, annual accounts and other documents. This is reinforced by the fact that it is not necessary to extract and store machine-generated or handwritten text and scanned documents from other sources.
In the banking and financial sector, large amounts of documents are stored, archived and sorted. These are departments that use physical papers and require constant checks and audits to maintain the quality of work. Intelligent automation of these processes frees up employees and helps commercial banks ensure compliance. Banks and financial firms will turn away from the manual document processing that is found in many other industries, such as healthcare, education, finance, and health care, if they want to take advantage of paperless work.
For starters, we can free knowledge workers from having to process bank forms manually immediately. We no longer need to redirect key data from one platform to another, and we support customer support to improve the customer experience.
Zapbot bank statement extraction solution accepts any number of PDFs for each customer and extracts the values listed below:
Deposits, deposit amounts, negative days
Average balance, withdrawals, beginning, and closing balance
Checks/reference numbers, interests, checks, and payments
Zapbot presents you a selection of necessary values and specific data points to be extracted. With our line item extraction technology, you get a chance to choose which values are to be extracted. While you prefer different parts to be parsed, our advanced software digitalizes what you select. Finally, you receive precise and reliable documents which you can check anytime, anywhere.
By automating document identification, Zapbot can help streamline and automate the most important components of KYC compliance. Its technology makes real-time analysis of submitted documentation an easy-to-use, scalable and efficient tool for compliance management. This helps to reduce the workload and ensure that you meet your KYC requirements while also providing a more accurate risk assessment. Automation streamlines compliance and automates compliance, but also simplifies documentation management and automated document identification (OI)