Problem Statement:
A Leading Financial Institutes current automation solution did not support Handwritten and Poor Quality documents and also it took long hours to value and match data with the current OCR solution. Hence it was time-consuming and cumbersome to onboard KYC Documents and it also has significant errors. This resulted in an increase in time to realize Cheque deposits in branches..
Solution:
- Our team built new structured layouts within Hyperscience and built the Validation workflow as per Client requirements. We manually identified the fields on all documents in order to train the machine for further operations and kicked off training for a new field locator model within Hyperscience.
- We Completed Model Validation Tasks to improve the first model and finished the second round of training on the field locator model.
- We provided secure access to branch sites to upload documents and had sites submit whole Account Opening submission packs into Hyperscience.
Benefits Realized:
- Data Extraction from Account Opening Form, Aadhaar ID Card, & GST Registration Certificate where Hyperscience achieved a 97.7% Accuracy
- 97.1% STP Automation for validation fields on 3 layouts.
- Document & Data Validation where Hyperscience validated with 99.3% Accuracy Validation across 6 Key metrics.
.png)
