Several processes in the Banking industry involve a substantial manual effort to extract meaningful information from semi-structured and unstructured documents, which cannot be automated through traditional automation solutions. IDP can process such documents with reasonable accuracy, leveraging AI for document classification and data extraction. Thus, IDP’s maturity along with RPA can help expand the scope of automation in various banking processes.
Read this whitepaper by Everest Group to get a perspective on how enterprises scale automation leveraging Intelligent Document Processing.
IndusInd Bank’s case study lends to a proof point for leveraging IDP in regularizing their export bills process and achieving initial benefits in reducing AHT and SLA and improving process scalability. With these initial successes, the bank now plans to expand IDP-led automation to achieve similar efficiencies across the board.