Process Automation in the Financial Services
Efficient Financial Process Automation in One Click
Providing a seamless experience to your clients is at the top of your priority list. That’s why you need the right technology to make that happen.With process automation in the financial services industry software, your company can:Scan and extract data from ID documents in one clickBoost customer satisfactionLower the risk of abandonment during onboarding
Create a tailored solution with Regula Document Reader SDK and comply with regulations, combat fraud, and protect your business.
What is Financial Process Automation?
In the financial services industry, strict regulations exist to protect clients and organisations from fraud, money laundering, and other illegal money practices. Delivering security for financial service providers and their clients, such protection comes with a downside – paperwork.Data entry and verification is a time-consuming yet vital task. But it doesn’t have to be. With the right technology, you can automate financial processes to:Speed up client onboardingFill in applications for loans, bank accounts, and other services with easePerform essential security checks
Be compliant. Avoid fraud. Ensure security.
Solutions for Financial Process AutomationMRZ readingBarcode readingCredit card readingE-document readingVisual and textual data OCR
How does Financial Process Automation Software Work?
Financial process automation software allows your business to extract relevant data to complete several key processes relevant to the financial services industry, including Know Your Customer (KYC) regulations, anti-money laundering requirements (AML), fraud prevention, and more.Data entry automation gives your business the power to extract essential data, store it securely, according to GDPR, as well as utilise it efficiently. With Regula Document Reader SDK, you can process:Passports
Extract data from passport documents with ease. Scan the image and draw data to allow your company to go on to verify the authenticity and perform fraud checks.IDs
Photograph or scan your clients’ official identification document. Use the extracted data to further check its authenticity and perform financial verification tasks.Other ID documents
Swift and efficient data extraction allows your company to detect and extract personal data in seconds.
How does it work?
- 1Data extraction automation software using OCR (optical character recognition) to detect and extract data. It allows companies to optimise processes and easily find documents or customers data within their system.2With an automatically generated database of customer information, delivering your services with excellent customer service becomes easy.
How can My Business Automate Financial Processes?You know your business inside out, but when it comes to integrating new technology, it can be difficult to know where to start and which processes can be optimised. Equipping yourself with financial process automation software, allows you to:
According to Deloitte, 38% of potential clients fail to complete the onboarding process. Don’t let your company be one of them. By using data entry automation, you allow your staff and clients to take control and expedite tedious tasks, like entering personal information, time, and time again.
Whether your client is entering your doors for the first time to open an account, setting up their online banking, applying for a loan, or something else entirely - with Regula Document Reader SDK, taking them through the process from step 1 becomes easier and faster.
In one simple click or upload, data is automatically extracted from their ID and added to your system. With no manual data entry, the risk of human error is low, meaning those tedious identification numbers become a hassle-free task.
With financial process automation software, onboarding becomes a streamlined, speedy process.
Forget about that time spent manually entering data. Instead, instantly extract personal information from ID documents and then perform further essential financial regulation processes with ease.
With Regula Document Reader SDK, you can optimise vital business processes such as data entry. This allows for more time for your staff to concentrate on more essential matters and perform vital security checks even quicker.
Data can be extracted from documents in seconds, meaning you’ll be able to quickly proceed to those critical KYC, AML, and anti-fraud checks, essential to maintaining security.
Don’t slack on safety, employ the right technology, and you’ll make security an essential part of your business.
Financial process automation isn’t just about delivering speed and security; it’s about providing your clients with the services they deserve. Involving the best technology into your business deliver a loud message to your clients – you care.
The OCR-based technology gives financial providers the power to make accessing services such as statements, account opening, swift, problem-free, and stressless. Meaning you can allocate your staff’s time to more crucial tasks, such as taking care of your clients.
Imagine entering a bank branch, and finding the staff engaging your clients in conversation, buying lasting relationships that will keep them coming back. Or, think about when a customer opens your app and finds that uploading documents is just one photo away, meaning they have time to enjoy that coffee and complete onboarding in peace.
By enhancing the quality of your services, you’ll be best positioned to outperform your competitors and deliver excellent customer service that boosts retention – a 5% retention increase can lead to a 25% – 95% increase in profits.
Financial Process Automation Use CasesData entry automationCustomer onboardingKYC automationFraud preventionAutomated check-in
Financial Process Automation in ActionExplore our example uses below to see how financial process automation could look in your company.Banking
Financial services are increasingly engaging technology to ensure faster customer service, more convenience, and better security. The drive to digitisation means more and more banks are providing their services online and through apps. Statistics show that between 2017 and 2022, mobile banking transactions are set to rise by 121%. To stay on top, it’s essential to upgrade your technology to match.
Financial process automation allows your bank to optimise the services provided to your clients and save the time of your staff for more critical tasks.
When your clients first enter your brand or access your online services, they expect swift and efficient customer service. Data extraction technology means that instead of spending time entering their personal details, they’ll be able to scan their ID document and extract valuable information quickly. Avoiding errors and saving time.
With Regula Document Reader SDK, you can delay automation in financial close process, account opening, identity verification in apps and on your site, loan applications, and more.Fintech
Financial Process Automation with Regula Software Development Kit (SDK)With Regula Document Reader SDK, there’s no need to compromise on speed or security. Utilising Regula technology into your company’s native web or mobile app allows you to optimise your processes, staff’s time, and drive client satisfaction with more efficient data entry optimisation. But, how does Regula Document Reader SDK work exactly?
Regula Document Reader SDK means your business doesn’t have to choose between speed and security. You get both.
Discover Regula Document Reader SDK with Web and Mobile Apps
Try out the Regula Document Reader SDK solution and uncover how it can help your financial business to become more secure, compliant, and efficient. Explore the solution for FREE today using our sample web and mobile apps and see how Regula can solve your financial process automation problems.
Contact us directly and discuss how you can tailor Regular Document Reader SDK and meet your financial process automation needs.