Bank Leverages Automation to Improve Productivity and Efficiency
Time saved in data-entry by sales personnel
Expedited loan processing services
Increased fraud prevention and detection
Customer: Alliance Bank Malaysia Berhad
Industry: Financial Services
Application: SME loan applications, bank statement analysis, fraud detection
Alliance Bank Malaysia Berhad and its subsidiaries, Alliance Investment Bank Berhad and Alliance Islamic Bank Berhad, is a dynamic, integrated financial services group offering banking and financial solutions through its consumer banking, small/medium enterprise (SME) banking, corporate and commercial banking, Islamic banking, investment banking and stockbroking business. Based in Kuala Lumpur, the Bank employs over 3,500 employees.
The Bank provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels that include retail branches, Privilege Banking Centres, Business Centres and Investment Bank branches located nationwide, as well as mobile and online banking.
Challenge
Alliance Bank wanted to transform its business processes to deliver faster, simpler and more responsive customer experience for its clients. At that time, its back-office processes were manual-based. This was inefficient, time-consuming and required too many hand-offs, which increased the risk of errors.
The Bank wanted a solution that could digitise their physical information and auto-populate it into their loan origination system (LOS). Ephesoft was selected because it could (1) meet the Bank’s criteria for digitisation, (2) enable the Bank to modify the programme coding with minimal vendor’s involvement, (3) provide a rule-based engine for use and training, and (4) affix a fixed subscription fee for unlimited scanned pages.
Solution
The system’s users realised they could improve the data with different configurations and machine learning technology. More importantly, users without coding knowledge found the system to be user-friendly as the solution enables greater flexibility in configuring the programme to get the data we need. In addition, it offers a wide range of pre-coded templates making it easy for users without coding skills or knowledge to design the programme.
How It Works
Users use the loan origination system’s optical character recognition (OCR) technology or multi-functional printer (MFP) to digitise the documents and upload them into Ephesoft Transact. This data is categorised as needed and exported in different formats for download.
Benefits
The advantages of the Ephesoft solution include:
- Digitising information for easy extraction and analysis
- Improving productivity
- Enabling fraud detection
- Minimising risk of errors
