intelligent document processing - Ascertain Technologies

The Future of Transaction Screening: Intelligent Image Recognition (I2R)

Tired of manual transaction screening? Ascertain Technologies’ Intelligent Image R ecognition(I2R) Document Processor is here to save the day. 

I2R is a powerful tool that uses advanced machine learning to automate the classification and extraction of data from incoming payment documents. It’s like having a superhero sidekick that handles the tedious tasks while you focus on more strategic initiatives.

The Challenges of Traditional Screening

Traditional methods of transaction screening can be time-consuming, error-prone, and inefficient. Manual checking, often involving multiple steps and systems, can lead to delays, inaccuracies, and increased operational costs. 

  • Time-consuming: Manual screening is labor-intensive, requiring significant resources and potentially leading to delays in processing transactions.
     
  • Error-prone: Human error is a factor in any manual process, increasing the risk of mistakes and missed information. 

  • Inaccurate: Manual screening may overlook critical details, leading to compliance issues and financial losses. 

  • Inefficient: Traditional methods can be inefficient, with multiple steps and systems involved, creating bottlenecks and delays.

The I2R Solution

Ascertain Technologies‘ I2R offers a scalable, efficient, and accurate solution to address the challenges of traditional transaction screening. I2R leverages advanced machine learning algorithms to automate the process, reducing the need for manual intervention.

Key Features of I2R:

  • Machine Learning: I2R uses machine learning to extract data from both structured and unstructured documents, including keywords like remitter, remitter details, address, vessel, ports, airport, city, country, payment purpose, etc. 

  • Customizable Templates: Create and manage your own key tags and templates without IT support. 

  • Blank Page Detection: Automatically identify and skip blank pages to improve processing efficiency. 

  • Rubber Banding Features: Enhance user experience with intuitive features like rubber banding for document navigation. 

  • Maker/Checker Control: Implement a robust approval process to ensure data accuracy. 

  • Intelligent Word Recognition: I2R’s IWR feature accurately recognizes words and phrases, even in challenging documents. 

  • Shorter TAT: Process large volumes of documents quickly, reducing processing time. 

  • Interfacing Capability: Seamlessly integrate I2R with other systems using API support. 

  • Multi-Language OCR: Support for multiple languages, including Chinese. 

  • No Hardcoding and Scalability: I2R is highly scalable and adaptable to changing requirements. 

  • Unlimited Templates: Create as many templates as needed to handle different document types.

Benefits for International Banks

  • Improved Efficiency: Automate time-consuming tasks, such as manual data extraction and classification, to free up resources and reduce processing time. 

  • Enhanced Accuracy: I2R’s advanced OCR technology minimizes errors and ensures data quality, leading to more reliable decision-making. 

  • Increased Compliance: Accurately identify sanctioned entities and transactions to comply with regulations and mitigate risks. 

  • Reduced Costs: Streamline processes and reduce the need for manual labor, leading to lower operational costs. 

  • Enhanced Risk Management: Proactively identify potential risks through accurate data analysis and monitoring. 

  • Scalability: Handle large volumes of documents without compromising performance, ensuring your bank can adapt to changing needs. 

  • Flexibility: Customize I2R to meet your specific requirements and integrate seamlessly with your existing systems. 

  • Improve customer experience: Faster processing times and reduced errors can lead to improved customer satisfaction. 

  • Gain a competitive advantage: Stay ahead of the competition by leveraging the latest technology. 

  • Drive innovation: Use I2R to support new products and services. 

Conclusion

I2R is a powerful solution for international banks looking to streamline transaction screening processes and improve efficiency. As the best document processing software for banks, I2R offers a range of benefits that can help you stay ahead of the curve. With its advanced features and customizable options, I2R can help banks meet regulatory requirements, reduce risks, and enhance their overall operations.

Contact Ascertain Technologies today to learn more about how I2R can benefit your bank.