Automation for Finance & Banking

Finally, banking institutions can streamline customer onboarding & KYC processes faster than ever.

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We understand the challenges financial institutions face as they navigate the fast-paced growth of unstructured data. That’s why we built the most advanced IDP platform the banking world has ever seen.


Enhance customer onboarding

Opening accounts can take up to 90 days. Long application delays are frustrating, but automation streamlines onboarding and enhances the customer experience.


Ensure compliance

Financial crimes cost billions in legal fines. Define a KYC plan, meet compliance, and shield your institution from criminal activities with a single platform.


Streamline customer communication

Accelerate contactless banking. Intent classification automatically triages emails and tailors a perfect response for a first-class customer service experience.

Uses of automation in Finance & Banking

From processing documents for KYC to streamlining the lending process, IDP unlocks essential data locked away in documents and mitigates the risks of customer onboarding.

Mortgage processing

Loan officers handle many documents with critical information about a borrower’s income. This involves pay stubs, tax documents, bank statements, and even open-source content available on social media for a complete picture of all associated risks.

For any process stuck under a mountain of unstructured documents — such as the underwriting review process — intelligent document processing can streamline the entire process with just one click.


Customer onboarding

Banks are under constant market pressure to deliver services faster than the new Fintech competition. For example, it currently takes 20-90 days to onboard a new commercial bank client.

Hero Platform_ helps financial institutions get there faster. Meet regulatory standards for KYC compliance and mitigate the associated risks with customer due diligence (CDD) checks — while fast-tracking each onboarding step throughout the customer journey.

Successful partnership

KYC compliance

Banks can’t know their customers if the data they have on them remains stuck inside inaccessible documents. Hero Platform_ is particularly adept at comparing data points from multiple sources and analyzing them with above-human accuracy.

Hero Platform_’s API can be your “intelligence fabric” that integrates data from any document into existing systems — making critical information for KYC and CDD checks immediately available for analysis.

The sales department scores again

Automate common customer requests

Hero Platform_ understands the intent of email messages. Is the email a change of address request, proof of employment update, submission of ID verification materials, or a customer complaint?

Hero Platform_ detects intent in emails and intelligently sorts them. Using the extracted data, Hero Platform_ looks up information in another system, verifies it, and automatically sends replies to common client inquiries — saving your underwriters time and effort.

Customer service representatives working in call centre

Join the digital mortgage revolution: How OCR and advanced AI can save legacy lenders

The financial services industry has undergone a digital transformation — and the mortgage sector is next.

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Classifying & inputting documents

There are 20 to 30 key data points per document throughout the underwriting process. However, even the best document management systems struggle to manage them.

Hero Platform_ reads financial documents like a tenured subject matter expert. It sorts documents into categories and extracts essential data with above-human accuracy. Wouldn’t it be nice to have a system that categorizes emails and documents automatically?


Discover the impact of AI on document forgery detection for critical documents.

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Finance & Banking Use Cases


Process SEPA direct debit forms faster, more accurately

The forms are critical for any company doing …


Speed up processing GDPR Subject Access Requests

Any company dealing with European citizens’ data can …


Extract information from auto documents

From car titles to loan documents, our data …


Classify documents with intelligent character recognition

In many business scenarios, an essential daily task …

How Automation Hero works with Finance & Banking

The best time for traditional mortgage providers to invest in AI was yesterday — but with Automation Hero, it’s never too late (or hard) to get started, catch up, or even surpass the competition.

Deploy an intelligence fabric for banking

Through our API, financial institutions can immediately start using intelligent document processing to build an automated underwriting infrastructure that speeds up every step of the process.

This enables banks to commercialize their infrastructures for the Banking-as-a-Service (BaaS) space — where banks provide their core services to FinTechs & open-finance third parties. Not the other way around.


Finance & Banking case study

One of the most trusted commercial banks in the Philippines wanted to enhance its customer onboarding experience and increase its competitiveness.

Since data had to be entered manually across departments, duplicate entries were a regular part of the ongoing re-work. For example, delays in the underwriting process severely impacted the client experience — leaving the door open for newer Fintech competitors to deliver faster service to would-be clients.

Using Hero Platform_, RCBC optimized its data migration capabilities and increased its underwriting production by 3x. Hero Platform_ cut RCBC’s loan processing from 25 days to just eight days (3x faster) by replacing their ETL middleware to resolve the bottleneck.

Your customer receives the data immediately — resulting in a seamless customer experience.


Why is automation important in finance & banking?

Automation in finance can improve efficiency, reduce errors, lower costs, and increase revenue. It can also streamline financial transactions and improve risk management with above-human accuracy. Additionally, automation helps financial institutions detect fraudulent activities and comply with regulatory requirements that avoid costly fines. Overall, automation helps financial institutions and their clients save time and money by improving decision-making while increasing security across the organization.

What can be automated in finance?

Financial institutions can leverage artificial intelligence (AI) and intelligent document processing (IDP) to automate many financial processes. A few common tasks banks can automate with IDP include extracting terms and conditions of assets from contracts, validating evidence of creditworthiness, income, employment, and property status in financial reports characterizing client financial statuses for account openings, customer onboarding, mortgage loan processing/underwritings, and regulatory processes — such as KYC compliance and customer due diligence (CDD) checks that help banks detect fraud and mitigate the risks of onboarding new clients.

How are automation tools used in finance & banking?

Automation tools are software applications that automate any number of repetitive tasks. However, intelligent document processing (IDP) is the only technology that digitally transforms a banking institution’s entire heritage document processes. Banks predominantly handle semi-structured PDFs and unstructured emails that require specific snippets of extracted data for verifying a client’s identity and complying with regulatory standards. IDP helps guarantee adherence to regulations. End-to-end IDP platforms such as Automation Hero’s Hero Platform_ use next-gen AI intelligence to automate each step in these mission-critical business processes to ensure adherence with above-human accuracy.

What is the impact of automation on the finance industry?

According to Grand View Research, the global market for digital lending was worth $4.87 billion in 2020 and is expected to grow at a 24% CAGR through 2028. As people continue managing aspects of daily life and their finances online, lenders still stuck in legacy, heritage document processes will be left behind. Many banks have turned to IDP to digitize, classify, and extract data from these documents. The result of using an AI solution like IDP is that it ultimately processes documents within a fraction of the time it would take a human. By switching to automation, a typical commercial bank could see one-time savings of up to $100 million from automating onboarding tasks. IDP can also help trusted legacy lenders compete with the fierce competition coming from Fintech startups.

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The benefits of developing an automation strategy

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