Mobile Capturing for Financial Service Providers

For years or even decades, employees working off-site had been struggling with paper forms and scanners. Today they can use their smart phones, however, it is worth considering a professional solution in order to avoid the usual obstacles while shooting photos of documents.

Within a year, by the end of 2016 enterprise applications optimized for smart phones will quadruple – according to IDC, the market research company. How can a bank, a consulting company or an insurance company gain real competitive advantage in this environment? If, for example, acquiring a new customer or satisfying a loyal key client’s needs do not last for days for your salespeople or agents.

The scanner problem

Let’s have a look on what the bottleneck is. Many times it lies in the way a paper document, available off-site at the client’s office, is converted into a file on our server, in an appropriate format, which serves as data easy to be handled by our systems. Off-site work is usually done by scanning the documents collected on the spot. These documents are then sent to the head office by employees visiting clients. But it is not easy to obtain computers equipped with a scanner, thus the process lasts way much longer than it should, causing inconvenience for the client as well.

Blurred mobile photos

Of course there is a solution for all the above: photos made by smart phones and sent to the head office via mobile internet. The generated files, however, are often blurred, too bright or for other reason difficult to read. In this case simplification is not reached because the inappropriateness of a document sent this way turns out only subsequently.

High-level solution

This solution has significantly been improved and raised to a new level by Mobile Imaging SDK, new software of ABBYY, technological partner of Innodox. This is a supplement which can be easily integrated in the already existing enterprise mobile applications. The key innovation is that the user receives a prompt feedback on whether the quality of the picture is sufficient for further processing, right after shooting the photo. Moreover, the system is capable of decreasing the size of the picture – while recognizing the size which is still usable – in order to make data transfer faster and smooth.

Who are using this solution?

This new, handy solution has been introduced in many enterprises and feedbacks are positive. At the Russian branch office of one of the Big Four global consulting companies plenty of paper-based documents need to be collected for the audit-reports. The problem was not only that employees had to travel with huge piles of documents but also that processing these included too many steps and human mistakes could occur. By making a photo using the new application, documents arrive directly at the data processing server. What is more, their format can be set as required: to PRF/A, for instance.

New bank account within a few minutes

In another case one out of the ten largest Russian banks intended to gain competitive advantage. Opening a new bank account lasted for days for an employee working off-site. Documents were delivered in the head office every few days. Now these get to the central back office in real-time, there is no need to wait for 2-3 days. In parallel, the role of human factor has decreased, thus reducing potential mistakes. This is due to the check function of the application, which ensures that the document set is complete, yet before it has been sent to the system. Furthermore, as the process is automated, their quality and suitability can be checked immediately. It makes opening a bank account possible right on the spot, already by the first visit. And that is what gives an incredible competitive advantage for the given bank.