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Banking / Forms Processing

ABBYY FineReader® Engine® accelerates bill payment process for Tinkoff Bank customers

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Customer Overview

Name Tinkoff Bank
Headquarters Moscow, Russia
Industry Online retail financial services
Web
CHALLENGE
  • Simplify bill payment process
  • Increase loyalty of the bank’s current retail and business customers
SOLUTION

ABBYY FineReader Engine — a multi-function developer tool for integrating advanced technologies for optical recognition, conversion and classification of documents.

RESULTS
  • 30 fоId decrease in filling time for payment orders
  • Likelihood of human error in data-entry reduced to a minimum

Tinkoff Bank offers a broad range of retail and commercial banking products and services to more than 5 million customers, including individuals and legal entities. It provides core payments service to both private and corporate customers and attracts around 10,000 new SME clients every month.

Automating the Bill Payment Process

While many entrepreneurs now use mobile applications in financial transactions, most still receive payment bills in paper form. Manually transferring data from paper bills into the Web version of Tinkoff Bank and its mobile app can take about 5 minutes, and sometimes Iоnger for bills with complex document structure.

In addition, manual data transfer is error-prone and requires high concentration. This compels the Bank's customers to spend extra time correcting mistakes and, in extreme cases, requesting new payment bills. ABBYY now makes this process faster, easier, and more accurate.

Built-in Recognition and Classification Technologies

For automated generation and processing of the bank's payment orders, the choice was ABBYY FineReader Engine - a multi-function daveloper toolkit for integrating advanced technology for recognition, conversion and classification of documents.

The toolkit enables the creation of multi-language and multi-platform application architecture that can run on any platform - from a workstation to an application server. The built-in classification technology enables automatic classification of documents into predefined categories. This ensures the processing of various types of accounts.

Now Payment Transactions Take Less Than 10 Seconds

It’s never been easier for businesses to pay paper bills through the Web version of Tinkoff Bank and its mobile app with ABBYY. Just take a snapshot of the bill, and the payment order is created automatically. This information is dynamically extracted, regardless of the format and content of the bill.

For example, regardless of how the amount of payment is described — "Sum Total" or "Total Amount", the solution intuitively understands that this "data" must be extracted. Now the bank's clients just need to easily verify the data highlighted in red and submit.

Automatically filling in payment orders now only takes 5-10 seconds, and the bill is sent for payment. This greatly simplifies the data-entry process and reduces the likelihood of human error.

"Tinkoff Bank fully launched a service for small and medium-sized businesses a little less than a year ago. Yet, industry experts have recognized our products for entrepreneurs and legal entities as some of the most convenient in the market. We continue to introduce new technologies to make Tinkoff banking services even more convenient. So, thanks to ABBYY recognition technology, our customers no longer need to spend time filling out payment orders manually."
Fedor Bukharov, Director or Business at Tinkoff
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