![]() ![]() For example, Alfa-Bank collaborated with Smart Engines to enhance their banking app with optical character recognition capabilities. Instead of having to visit or call a bank, with the help of OCR, clients can scan their documents to update information automatically. This allows for instant verification and improves customer experience. Instead of having an employee verify clients’ identity manually, OCR-powered solutions can extract and validate all relevant information from the person’s passport and other ID documents. Additionally, such apps can perform signature validation against the existing database and clear the check immediately. These solutions deploy optical character recognition algorithms to identify relevant fields in checks and perform operations accordingly without the need for an employee to transfer all this data manually. One example of OCR in this sector is using banking apps to deposit paper-based checks digitally. Adopting OCR recognition algorithms allows employees to store and access all these documents digitally and prevents paperwork loss and damage. These include cheques, customer records, loan applications, bank statements, etc. If you are interested in a more comprehensive automation solution, you can utilize intelligent process automation services that include OCR and other advanced capabilities.īanking institutions use loads of paper-based documents in their workflows. Less processes will be put on hold while looking for a lost physical file. Automate workflows: searching through digital files with a good management system in place is faster than dealing with paper documents. ![]()
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