Use case
Banking | Reduce resolution time and improve customer satisfaction using document intelligence.
Your value and outcomes
Financial institutions have a significant opportunity to elevate customer service and streamline operations by transforming how they manage high volumes of critical documents.
Nordcloud's AI-Powered Document Intelligence service accelerates this transformation by automating the intake, classification, data extraction, and validation of information from a wide range of financial documents.
Built on Microsoft Azure AI Document Intelligence, Azure OpenAI, Azure AI Search, and Azure App Service, our solution streamlines workflows, enhances data accuracy, and provides actionable insights, empowering your teams to focus on strategic initiatives and deliver superior customer experiences. Our solution enables you to:
- Accelerate processing of financial documents. Significantly reduce time and effort spent on document handling, leading to faster processing of applications, transactions, and customer inquiries.
- Enhance financial data accuracy and compliance. Minimize human errors in data entry and ensure consistent, accurate data extraction, strengthening regulatory compliance and reducing the risk of penalties.
- Improve customer experience. Quickly access accurate information, expediting response times, providing more personalized services, and fostering greater customer trust and loyalty.
- Optimize efficiency for loans, payments, and more. Automate repetitive tasks and gain valuable insights from structured and unstructured data, leading to streamlined operations and cost savings.
- Scale with the needs of your institution. Our Azure-native solution scales seamlessly with your business growth, handling increasing document volumes while maintaining performance.
Service type
Consulting service leading to a Proof of Concept (PoC)
Deliverables
- Initial assessment of your institution’s current document processing workflows, identifying key areas for AI transformation
- PoC environment, a working prototype demonstrating automated data extraction and processing for a specific set of your financial documents
- Solution design and architecture for integrating the AI Document Intelligence solution with your existing systems
- Executive presentation and recommendations summarizing PoC results and identifying business value and a phased implementation plan
Activities
- Discovery workshops to understand your specific document types, workflows, and business objectives.
- Data ingestion and analysis utilizing Azure AI Document Intelligence to extract text and tabular data from your financial documents.
- Building and testing PoC environment to prototype and demonstrate the solution's capabilities.
- Knowledge transfer and training to equip your team with the understanding and skills to leverage the new solution.
Timing
2-4 weeks, customizable to your organization’s specific needs and targeted outcomes.
The Nordcloud difference
Nordcloud is a leading cloud-native services company with deep expertise in Microsoft Azure and advanced AI solutions. We empower financial institutions to modernize operations and unlock business value through innovative AI adoption, driven by our experience delivering secure and compliant cloud and AI transformations.
Our proven track record includes successfully implementing AI solutions for financial data extraction and process automation, enabling clients to achieve significant cost savings and improve operational efficiency. We understand the Financial Services sector's stringent regulatory and security requirements and build solutions that adhere to the highest standards.
Customer reference
A leading financial institution struggled with time-consuming and complex manual analyses of new and draft regulations, including an acute challenge in identifying changes across versions. In addressing this need with a generative AI application, the institution also wanted an easily modifiable and administrable solution grounded in its data, which could be applied to other business processes.
Nordcloud implemented a secure, integrated AI solution, which included a packaged infrastructure deployment and a customized chatbot. This enabled legal analysts to gain quick summaries and accelerated the process of identifying relevant changes for banking operations. Because it was easy to modify, the institution has been able to experiment with other applications, increasing efficiency and productivity while maintaining compliance.
Pricing
We offer customized pricing based on your organization’s specific