AI Use Case
Automate collection of banking data from non-standard documentation
Automate collection of banking data from non-standard documentation (e.g. in shipping paperwork) - this will typically be turned in to standardised banking documentation
Function
Operations
General Operations
Benefits
Cost - Job automation,Data - Data mapping / labelling
Case Studies
HSBC~HSBC tests automated information extraction system for global trade contracts,UBS~Client post trade equity allocation automatically generated from client emails at UBS,St. Galler Kantonalbank AG ~SKGB Automated transfer of bank security positions suggested positive potential for SGKB,ASOS.com~ASOS eliminates the risk of inaccurate data entering finance systems by implementing a machine learning solution for invoice handling,Commerzbank~Commerzbank plans to automate 80% of pre-compliance checks for trade finance transactions using machine learning,ING~ING automates its compliance and sanction screening processes with optimal character recognition
Potential Vendors
IBM,Celaton,Conpend
Industry
Financial Services
Banking
Data Sets
Text
AI Technologies
Machine Learning (ML),Traditional AI,Product - Optical Character Recognition (OCR),ML Task - Prediction - Data Translation/Transformation