Cheque Processing Automation

Industry - Leading Banking Services
Implementation Time - Within 12 WEEKS *

Key Challenges

Processing cheques manually for validation to complete the transaction was time-consuming also susceptible to human errors.

Some of the key challenges were:

  • Making and checking decisions are made by numerous branches and back-office teams to process it manually
  • For 50000+ daily transactions of 6-7 types across 1700 branches taking an average of 10 minutes to complete the transaction
  • Complex multiple data sources were manually correlated
  • Involvement of several applications in the process, including legacy systems and online portals

Our Solution

The solution was build using RPA, OCR, and AI to automate the complete cheque processing that works with the existing banking system with ease.

  • Customer/Branch user uploads the cheque and data into the Mobile application
  • Now the OCR comes into action to extract data from the uploaded documents
  • Allowing RPA to perform numerous handshakes with the CBS system and provides data to AI Engine based on the data validated
  • Customer/Branch user then gets a confidence scorecard from the AI-Engine
  • He Approves/Reject case after checking the same on the Screen
  • Resulting, completion of the transaction was a successful

Automation Benefits

The company was able to reap significant benefits from the solution.

Following are the key results of implementing an RPA and AI-based solution for cheque processing automation.

  • Annually, manual labour is reduced by 75%
  • Reduced processing and quality assurance checking times
  • Service Levels have improved significantly.
  • Reduced operational costs by a considerable amount
  • Process standardization increased
  • Customer experience improved.

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