Smarter, faster banking for today’s customers.
Achieve significant cost savings while preventing check, loan, and payment authorization fraud.
Ironically, as processes become more automated, financial institutions become more vulnerable to crimes, fraud, and KYC violations. Even as banks try to reduce expensive paper transactions, checks, credit, and payment documents are processed every day.
As attacks are most likely to occur through process vulnerabilities and fraudulent documents, thorough process discovery and analysis is a necessary first step, followed by automating paper-based processes with the ability to spot suspicious behaviors. Banks can achieve significant cost savings and speed time to payment while preventing check, loan, and payment authorization fraud by optimizing the validation and proof of documents function. Automated and centralized processing of documents with verification against customer information and behavior patterns and KYC policies reduces slow, error-prone manual processing.
With ABBYY, hand-printed text and other critical data from checks can be identified and extracted automatically with NLP-focused entity extraction. When a bank receives a check, ABBYY solutions automatically look up reference images using signature comparison to verify the authenticity of the check and prevent forgery or counterfeits –– solving a major problem for financial institutions.
An interactive panel discussion featuring Aite Group.
Developed in partnership with BAI and Cheryl Chiodi, Financial Services lead at ABBYY, this report explains how using a holistic approach featuring automation and analytics can mitigate risk, deliver a better CX and generate revenue.
Learn how to combine RPA with NLP to create the innovative new automated workflows in KYC/AML to mitigate the new risks imposed by the distanced world of the current pandemic.
In combination of managing an increase in financial transactions, and adjusting to new circumstances amid a pandemic to conduct business from a safe distance or shelter has forced financial organizations to take a close look at their technology priorities, and to do it fast.
Find out how ABBYY Intelligent Automation solutions for Financial Services can address your needs.
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