Banking and Finance

A 1000-branch bank uses Accure Momentum to automate key banking processes. They are able to reduce more than 50% of their operating costs from these processes which were manual, mundane, and error-prone.

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Automate Key Banking Processes

A 1000-branch bank uses Accure Momentum to automate key banking processes. They are able to reduce more than 50% of their operating costs from these processes which were manual, mundane, and error-prone.

Inward
Outward
Concurrent

Accure Momentum Accuracy

The current accuracy of extraction for machine-generated text is close to 100% and for handwritten text is about 75%.

The accuracy level is improved on a continuous basis by taking the user feedback into the training set and augmenting the models.

In addition to extraction accuracy, the data passes through bank-specific custom rules — critical and non-critical — before the transaction is cleared through a Straight-Through-Process, aka STP.

Web-based Verification & Validation (V&V) Engine

The bank utilizes our web-based V&V engine to correct any extraction anomalies and clear those transactions manually. The V&V engine can be configured to match the makers-and-checkers process to ensure 100% compliance.

The output from user feedback is fed back to augment the model on a regular basis to improve the extraction accuracy.

Key banking processes that Accure Momentum automated

Concurrent

  • Automation of check clearing
  • Instrument processing with OCR/ICR
  • Day-book validation and reconciliation.

Outward

  • Automated content extraction
  • Integrate with third-party system
  • Publish to CBS & CTS

Inward

  • Automated content extraction
  • Signature matching
  • Publish to CTS

KYC

  • End-to-end eKYC process automation

Banking Features

Integrates with Core Banking System (CBS) and Cheque Truncation System (CTS)

Customizable workflow with web-based UI for management and quality

Configurable rule engine to adhere to bank-specific processing needs

Highly scalable to support 1000s of bank branches to centralize the processing

Additional benefits to the bank

Improved fraud prevention
Improved regulatory compliance
Increased operational efficiency
Decreased Error

Ready To Embrace The Future

If you are working on a data engineering or AI solution, trying to explore a use case, or building a proof-of-concept, please contact us for a one-on-one discussion.

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