Improved data curation
To better access to business's current knowledge
Faster decision-making process
To decide in record time if loan extension is allowed
Lighter team workload
To process high volumen paperwork faster and easier
What concerns
The Challenge
The back office team in a banking company is in charge of auditing and reviewing corporate loan policies and files within an organization to ensure the good control of data curation in the company and verify the possibility of a loan extension for each case if the customer needs it. In most cases, this process is currently done manually by legal administratives having to review and check the conditions of each contract, specially the ones related to the suspensive clause policies to ensure that every operation is prosecuted correctly, often causing delays in processing and misclassification along the way.
Processed Documents
What helps
The Solution
Omnitive IDP was used to speed up in record time the training of cognitive models of contracts documentation to identify the relevant data and cross check the key information with its suspensive clause policy to ensure the feasibility of a loan extension and in, the same time, improve the data curation of the company. Once the data is extracted and verified, the current staff is involved in the final process of validation of the loan extension in case the customer asks for it. Now, with the same team as before, they can process and automate all the company’s contracts under review with less human resources in the process.
