Case Study
CFG Bank
Superfast and Error-free Loan Data Extraction & Standardization for CFG Bank with DocEdge
CFG Bank, headquartered in Baltimore, Maryland, is a full-service bank that provides premier commercial, personal, and online banking solutions to the Mid-Atlantic business community, national cannabis industry and national healthcare market.
Improved operational efficiency due to digital extraction of data
Significant reduction in manual effort in process execution
Reduction in average handling time for balance sheet and profit and loss
Improved and smart handling of multiple business exceptions scenarios
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Manually scanning and processing voluminous balance sheets and profit and loss documents in various formats was the biggest challenge. This led to error-prone, time-consuming data extraction and standardization. This also led to delays in response time.
Automation Goals
- Streamline loan document processing
- Driving efficiency in response time
- Adhere to compliance regulations while processing data-sensitive documents
- Prevent errors or fraud while processing profit and loss documents
Process Overview
AutomationEdge standardized and optimized the loan process with solutions like DocEdge- an Intelligent Document Processing solution:
- AE Bot keeps checking for new balance sheets and profit and loss documents.
- AE Bot downloads PDF and extracts details from n… the number of documents using DocEdge Data extraction solution by AutomationEdge.
- AE Bot Performs data massaging to put the data in a unified format from pdf extraction and XLS input files.
- Standard output is placed in the processed folder and also notifies on completion of the process.