Banks deal with a lot of documents and data from every document has to be manually entered into the system which is time consuming. It has to be compared with supporting documents which again is time consuming.  Also, it requires a lot of manual checks with various departments to know the integrity of the case; this impacts the performance, productivity and makes the entire process slow

AutoRec Agile Capture Platform has automated the Capture of data from the documents and has also automated the manual approach of checks with various departments by integrating them through API and bringing them on One Platform thus making the Product One Stop Solution and hence reducing the TAT from 48 hours to 90 minutes.

Trade finance remains one of the most complex banking businesses to automate, owing to intricacies in international trade practices. There is a lag in the entire trading life cycle due to document intensive transactions, multiple process stages and lot of manual checks. Trade finance for banks is labor, process and paper-intensive and as such, paper-intensive processes can impede transaction efficiency, and reduce visibility on both the physical and financial aspects of the transaction. In order to overcome all these difficulties ranging from labor, process and paper intensive including multiple manual checks which takes around 2-3 days for each transaction to complete. We have come out with an end-to-end automation in TradeFinance domain which reduces the TAT to 48 Hours to 90 minutes.

Pay slip

Pay slip is a document issued by an Employer to pay an Employee for services rendered. These days Pay slip has become an important document to be submitted to the Employer before joining the services. In most of the Organization’s they have a customized HR Solution Software where the data from the Pay slip has to be entered manually into the system for records or to roll out an offer. Every Pay slip has various components that constitutes to the overall Gross Salary. In some cases Pay slip can also be forged for their own personal needs or for any fraudulent activity. In order to avoid all these difficulties of manually entering the data with decimal points which could be possibly entered wrongly into the system and also checking the data for any kind of discrepancy or forgery, Autorec can be used for a great extent and with maximum efficiency with remarkable results.

KYC

To open Account or to do any other Business Transaction, Banks has the tendency of asking the supporting documents along with the Application Form. This Application Form is than cross verified with the supporting KYC’s in order to check for any kind of discrepancy and is all done manually which is very time consuming and requires additional manpower. In order to overcome the difficulties faced by the Banking executives to manually check the documents. We have come up with a solution which automates the check between the documents and any kind of discrepancy found or detection of fraudulent activities in the documents are shown as an Alert.

Supporting Documents:

  Pan Card

  Aadhar Card

  Driving License

  Passport

  IT Returns

  Bank Statement

  International Driving License

  Emirates ID