Trade Finance is one of the most complex banking operations involving complex international trade practices. The trading operations lifecycle was highly time consuming due to extensive manual effort required for document and data intensive transactions, lengthy process workflow, a lot of manual inspection and interactions with multiple interfacing internal and external systems.
AutoRec application was introduced for automating the Trade Finance process for Document Check and Bill Lodgement for Import Export Collections. Powered by Machine Learning, it classifies the documents, extracts data from the documents, applies rules to those documents and automatically updates multiple systems as part of operations workflow and compliance checks.
The end to end validation performed by iLink was one of the most critical factors that determined the success of the AI-ML-OCR system. Validation of the Machine Learning system involved multiple iterations to test intelligently all possible combinations and assessed how well the system was trained. The system was fine-tuned based on the results of testing till the expected level of confidence for outcome was attained.
Document Check & Bill Lodgement was reduced from 105 minutes to 60 minutes, a > 40% increase in efficiency.
Document classification accuracy increased by 95% while data extraction accuracy increased by 80%.
Overall the customer saw a 65% increase in productivity.
Etiam magna arcu, ullamcorper ut pulvinar et, ornare sit amet ligula. Aliquam vitae bibendum lorem. Cras id dui lectus. Pellentesque nec felis tristique urna lacinia sollicitudin ac ac ex. Maecenas mattis faucibus condimentum. Curabitur imperdiet felis at est posuere bibendum. Sed quis nulla tellus.
63739 street lorem ipsum City, Country
+12 (0) 345 678 9
info@company.com