Raiffeisenbank accelerated processing of credit agreements using Abbyy FineReader Engine three times

2020: Implementation of ABBYY FineReader Engine

Raiffeisenbank simplified processing of credit agreements with legal entities thanks to intellectual technologies of ABBYY. The solution based on the module of comparison of ABBYY automatically verifies the scan of the paper agreement revision, signed by the representative of the company, with his electronic version and displays in it changes. Such approach allows to protect both parties from possible errors and discrepancies. Raiffeisenbank signs a year several thousands of loan agreements with the companies of medium and large business, and now on reconciliation of documents three times less time, than leaves earlier. On February 18, 2020 the ABBYY company reported about it.

Crediting for business – dynamically developing direction in Raiffeisenbank. Before signing of the client agreement documents are checked by specialists of department of credit control. Among their tasks including – to be convinced that in the final agreement revision there are no typos or changes which can entail risks for bank. Verification of one multipage document borrowed the employee from 30 minutes to an hour and required special attention therefore Raiffeisenbank automated this process using technologies of ABBYY. The solution compares the electronic document revision sent to the partner to the signature, and the paper document which is already signed by the client. Documents are scanned, the technology will automatically recognize the text then it starts comparison of two versions. If there are no typos and corrections, the agreement goes to signing to the responsible. If differences are found, the document is sent back for revision. In a project deliverable verification of one document takes no more than 10 minutes.

Evolution of corporate banking requires deep involvement in business of the company, studying of its tasks for the choice of the effective financial tools allowing the client to achieve the goals. We constantly optimize and we simplify business processes in the corporate and investment block that to the client was most conveniently and quickly to work with us. Using technologies of ABBYY we could accelerate such labor-intensive process as execution of the loan agreement, and are very happy with result, comments Natalya Stremilova, the deputy head of department of credit control and work with providing Raiffeisenbank