NavBot - Bank Statement Extractor
Business Problem
Credit officers analyze bank account statements for transaction categories such as credits, debits, balances & standing instructions. In the case of physical statements, this process is carried out by eyeballing which leads to errors & high TAT(Turn Around Time). Credit officers are also required to track missed EMIs which again requires manual inspection.
Business Challenges
Increased Error Rate
Increase in Backlogs
Data Transparency issues
What does the Bank Statement Extractor do?
This software robot named will be using 3rd party template based OCR extraction mechanism in order to extract the Bank Account transactions and perform calculation to collect various set of information such as Top 3 credits, Top 3 debits, Annual Monthly Balance and many more.
Benefits
Increase in Operational efficiency
Enhanced data collection
Increase in Data Accuracy
