Employees spent on reconciliation up to an hour, the program – up to 10 minutes, calculated in the company.
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The use of ABBYY text recognition technologies helped Raiffeisenbank reduce the time it takes to process loan agreements with legal entities from 30-60 to 10 minutes. About this vc.ru told the press service of the company. The information was confirmed in the bank.
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Before signing the contract with the client, the credit control department specialists had to check for typos on the signed paper version of the document and compare it with the electronic version for changes. Experts took 30-60 minutes to reconcile a multi-page document, calculated in ABBYY.
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Raiffeisenbank concludes several thousand loan agreements with medium and large businesses annually. In order to automate the process, a credit institution in December 2019 introduced ABBYY technology, which allows you to compare different documents, the company noted. The technology began to be applied in all branches, vc.ru explained in the press service of the bank.
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Now the program scans the signed paper contract, recognizes the text and starts comparing the two versions. If they match, the paper contract is sent to the bank employee for signature. If there are differences, the program identifies inconsistencies in the electronic version and poisons the documents for revision. Reconciliation takes up to ten minutes, ABBYY representatives calculated.
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The introduction of the system made it possible to partially automate the processing of loan agreements and transfer employees from routine work to more qualified tasks, said Natalya Stremilova, deputy head of the Raiffeisenbank credit control and collateral management department.
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“Errors in reconciling the contracts were single, they are mainly related to the human factor. It’s too early to talk about economic feasibility, the project has been launched recently, ”the representative of the bank added.
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