Russian Agricultural Bank have carried out the project for implementation of stream input, storage and management of client documents for delivering banking services using solutions such as ABBYY FlexiCapture and IBM FileNet. The project was implemented by Business Logics company (I.T. Group).
The project by Russian Agricultural Bank for implementation of a system for input, storage and processing of client documents on paper medium aims to increase speed and quality of service.
The solution is already being utilized in the HQ as well as in 18 regional branches. The system enables employees to process and manage enormous amount of documents, up to 4 million pages per month, with the amount expected to triplicate in three years.
The stream input and storage system was developed and implemented by Business Logics company in 6 months. It utilizes ABBYY FlexiCapture and IBM FileNet solutions and includes document scanning, recognition, verification and storage subsystems. As a part of the project, Business Logics specialists have developed templates for automatic processing of 10 types of documents used by the bank.
The algorithm of the system works as follows: branch employees prepare sets of client documents, scan them and send them for processing (recognition). After that, verification of the scanned data is carried out, followed by exporting to a digital document storage, where the documents are distributed across hierarchical catalogs. Further document processing takes place in accordance with each employee's access levels based on their professional duties (need-to-know basis).
The digital data storage is integrated with bank IT system and supports scan metadata exchange.
The system enabled the bank to significantly reduce the time of document transmission from the front office to the back office, to centralize the storage and to enable online access to it, as well as to reduce risks of the documents being damaged or lost.
"Scans of the documents required for decision making now go directly to the responsible employees online" – says Georgy Podbutsky, Head of Sales, Business Logic. "This allows Russian Agricultural Bank to facilitate decision making for the management and optimize the costs of client service".
"Projects for optimization of banking operations are quite popular in recent years" – adds Dmitry Shushkin, head of enterprise projects, ABBYY Russia. "The reason behind their popularity is that the effects come online shortly after the implementation, usually in one fiscal year. We are proud to see how ABBYY products enable yet another leading Russian bank to increase the efficiency of their document procession."