Hyperautomate the UCC filing process

Modern organizations deserve modern technology

Financial services organizations often struggle with large scale processes involving scrutiny and comprehension of documents. With existing OCR based automation tools, inherent limitations exist due to templates, layout, and document types that require timely and costly manual intervention to fully process.

With Applica Robotic Text Automation (RTA), organizations can leverage industry-leading AI to comprehend, contextually extract, and make decisions with a high level of accuracy on all types of documents within seconds. Applica RTA is unique in that it’s self-learning from interactions with end users with minimal data, can be managed by office staff (not expensive AI engineering resources), and is easily scalable to meet the demands of shifting priorities.

UCC filing case study

Situation:

A multinational bank runs a KYC process that requires manual scrutiny of over 2,000 complex UCC filings per month.

Problem:

The manual process is expensive as is executed by qualified lawyers. It is also time consuming as each document takes 48 hours to process, and fallible as it relies on numerous external factors to work properly.

Solution:

Applica RTA was trained with an extremely small number of examples and achieved a 1:1 replacement of human lawyers.

Results:

Automation accuracy levels are 98% and the platform learned from the 2% of corner cases for future use. The document turnover time decreased from two days to just five minutes, greatly increasing the bank’s customer service level.

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