Credit Automation: Automate credit decisions with Konfuzio

The introduction of Artificial Intelligence (AI) in banks' real estate financing processes offers considerable opportunities for optimization, which are reflected in both efficiency gains and cost savings. Particularly in the context of Document processing - an area traditionally characterized by manual and time-consuming processes - AI can bring significant change with it. Credit Automation bring about. Cognitive Process Automationas made possible by Konfuzio, offers an advanced solution that goes far beyond the traditional optical character recognition (OCR) technologies.

Suitable document types for credit automation

The integration of Konfuzio into the existing infrastructure of banks enables the automated processing of a large number of document types that are relevant for real estate financing. From the automatic evaluation of Energy performance certificates about KYC exams up to the analysis of profit and loss statements and balance sheets - The possible applications are diverse and offer enormous potential for process optimization in the context of credit automation. Particularly noteworthy is the ability not only to recognize and classify documents, but also to extract relevant information in context and prepare it in a structured manner. This capability not only significantly reduces manual effort, but also improves the accuracy and speed of information processing.

Advantages of credit automation

The switch to AI-supported automation of credit decision processes in real estate financing offers numerous advantages. Some of them are:

  1. Increase in salesCredit automation can lead to higher sales by improving approval rates. By processing credit applications more efficiently, more qualified customers can be served faster.
  2. Reduction in failure ratesMore precise risk assessments enable banks to reduce their loan default rates, including in real estate financing, and thereby optimize their risk management in general. Automated solution models such as Konfuzio are able to use comprehensive data and analyses to make more accurate predictions about the credit default risk, which leads to better credit portfolio management.
  3. Efficiency increaseThe automation of data collection, processing and prioritization enables banks to speed up their decision-making process while reducing the workload. This leads to a more efficient use of resources and faster processing of loan applications.

Use case in the financial services sector

Through precise use cases, such as those demonstrated at SWUB - a financial services institution with 12,000 employees and an unstructured data volume of 10 terabytes - significant savings can be realized. The challenge of processing an average of 2,700 documents per employee was effectively addressed by implementing Konfuzio for credit automation. The combination of Computer Vision and NLP led to a drastic reduction in average processing costs per unstructured document from €23 to around €2.50. In addition, a time saving of 16,500 hours per week was recorded at a customer in the insurance industry, which underlines the transformative effect of AI in the area of process and credit automation.

The introduction of an automated credit decision in real estate financing at banks using cognitive process automation with Konfuzio offers an efficient solution for overcoming the challenges associated with the processing and management of unstructured documents.

Optimizing these processes not only leads to a significant reduction in costs and time savings, but also to improved data quality and decision-making.

With newly defined credit automation, Konfuzio is thus taking a decisive step towards Digitization and Automation in real estate financing, which enables banks to make their services more efficient, precise and customer-oriented.

FAQ

Konfuzio is an advanced software that uses combinations of computer vision and natural language processing (NLP) technologies to recognize, classify and process a wide variety of document types.

What real estate use cases are conceivable with Konfuzio?

In the real estate industry, use cases such as

  • Automated evaluation and processing of energy performance certificates for ESG data analysis for real estate portfolios. In addition, only energy performance certificates provide relevant data for qualifying existing customers with regard to energy-efficient refurbishment and offering subsidized financing options on an individual basis.
  • KYC (Know Your Customer) checks for borrower documents for risk assessment and effective risk management.
  • Analysis of income statements and balance sheets to assess the creditworthiness and credit capacity of companies.
  • Bancassurrance: Home insurance can be sold through existing real estate financing documents or existing insurance policies. Brokerage activities in particular enable long-term annual contact with future existing customers and offer great potential for optimizing customer relations management.
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What document types can Konfuzio process?

With Konfuzio, a wide range of document types can be processed, including but not limited to:

  • Land register excerpts
  • Living/usable space calculations
  • Energy certificates
  • KYC documents
  • P&L statements
  • balance sheets

What is the quality level of the result?

The quality level of processing is high, as the combination of computer vision and NLP enables precise recognition and classification of information within these documents, which is often error-prone and time-consuming manually. Konfuzio offers HOTL (Human out of the Loop) and also the HITL option (Human in the Loop) to effectively automate processes with manual control as an option. Classification, completeness checks and the automatic separation and renaming of documents in particular add value to all steps of credit process automation.

Vision Text Features credit data automated success

Due to standardized AI processes, the accuracy of AI trained with Konfuzio is about 6 % better than individually created document AI.

Which solutions have been successfully integrated with customers from the real estate sector and have proven their worth?

Successfully integrated use cases for real estate customers include:

  • ESG data analysis from energy performance certificates to evaluate real estate portfolios, enabling companies to better track and report on their sustainability goals.
  • Automated KYC procedures for the fast and secure verification of borrower documents that have more rigid structures. A typical document is the Identity card.
  • Assess the financial health of companies by analyzing P&Ls and balance sheets, which speeds up lending decisions.
  • Bancassurrance: The sale of homeowners insurance can be supported by existing real estate financing documents or even existing insurance. Brokerage activities in particular enable long-term annual contact with future existing customers and offer potential in terms of customer relations management.

What customer references can Konfuzio provide?

We have agreed with our customers to refrain from reference marketing. We respect this decision, which is why specific customer references are not discussed in more detail in this context. However, the use cases described indicate that Konfuzio works successfully with various real estate companies, banks and financial service providers to optimize their document processing and analysis processes as well as risk management with credit automation.

How long does the average customer onboarding take?

Konfuzio is positioning itself as a central AI platform that not only revolutionizes document processing through the use of AI technologies such as computer vision and natural language processing (NLP), but also improves the efficiency of business processes through integrations with leading Workflow platforms significantly.

These integrations enable companies to automate their document processing and at the same time optimize and digitize their workflows.

Confucius Implementation

Some of these workflow platforms, into which Konfuzio can be seamlessly integrated, are described below:

  1. n8n: n8n is a workflow automation platform that makes it possible to connect both internal and external services and APIs without the need for programming. By integrating Konfuzio, companies can incorporate document processing tasks into their n8n workflows, automating and accelerating data extraction and processing.
  2. ProcessMakerProcessMaker is a BPM (Business Process Management) solution that facilitates the modeling, automation and optimization of business processes. The connection with Konfuzio enables seamless document processing within processes, improving decision making and efficiency by automating tasks that previously required manual intervention.
  3. CamundaCamunda is an open source platform for workflow and decision automation that supports technical and non-technical users. By integrating with Konfuzio, companies can automate complex decision workflows by extracting data from documents and using this information for process control in a structured system.
  4. Power Automate: Power Automate (formerly Microsoft Flow) is an automation platform that makes it possible to automate repetitive tasks between Microsoft applications and other services. Integrated with Konfuzio, users can create powerful workflows that include document processing tasks to increase efficiency and productivity.
  5. Lobster_data: Lobster_data is a versatile RPA tool that enables the integration of data and processes across different systems and platforms. By connecting with Konfuzio, organizations can automate their document processing while seamlessly transferring data between Konfuzio and other enterprise applications, enabling efficient data consolidation and data management. Process automation promotes.
  6. UiPath: UiPath is a leading RPA platform that makes it possible to automate repeatable tasks without human intervention. The integration of Konfuzio into UiPath workflows enables organizations to increase the efficiency of their document handling processes by embedding AI-driven data extraction and processing into their automated processes.
  7. M-Files: M-Files is a document management system (DMS) that helps companies to organize, manage and track their documents and information efficiently. Through integration with Konfuzio, documents stored in M-Files can be automatically processed and analyzed, improving information retrieval and document management.

By integrating with these workflow platforms, Konfuzio not only reduces the manual effort involved in document processing, but also improves business processes overall. Companies benefit from faster data processing, increased accuracy in information retrieval, improved decision-making and more stable risk management.

"Time-to-go-live"

The average duration of customer onboarding and implementation until "go-live" can be significantly reduced by using these integrations, as many processes are already preconfigured and optimized, enabling fast and efficient implementation.

Are there any general tips for successful digitization?

An important addition to the digitalization strategy of companies, especially in connection with the central AI platform Konfuzio, is the integration of solutions for the digitalization of the non-food sector. digital inbox. Such solutions play a crucial role by converting physical documents into digital formats that can then be processed by Konfuzio. Partners such as Mail Professionals GmbH or the Deutsche Post solution The transition from analog to digital is crucial in making it seamless.

  1. Mail Professionals GmbHThis company specializes in the digitization of incoming mail for companies. They offer services that scan, categorize and digitally feed physical mail into the specialist system, where it can then be picked up by Konfuzio for further processing and analysis. This enables fast and efficient processing of incoming documents without the need for manual intervention.
  2. Deutsche Post solution (E-POSTSCAN)Deutsche Post offers E-POSTSCAN, a service that digitizes all of a company's physical incoming mail. The mail items are scanned and can then be converted into a desired format and entered directly into the company's system. Thanks to the seamless integration with Konfuzio, these digitized documents can be immediately analyzed and processed automatically.

By combining Konfuzio with such digitization and scanning solutions, companies can make their incoming mail more efficient, save time and improve the accuracy of data processing.

These integrations make it possible to quickly incorporate non-digital documents into digital workflows, further driving the digital transformation of business processes.

How high is the cost to the customer?

Is a standard interface sufficient or are significant IT investments necessary?

Konfuzio is designed to minimize the effort for customers by providing a standard interface for integration. The concrete assessment of the effort involved depends on an analysis of the existing processes, which provides a clear strategic view of the possible process improvements.

Conclusion

All in all, Konfuzio offers a powerful system for the automation and optimization of document processing in the real estate sector, with a strong focus on ESG data analysis, KYC procedures and financial assessments as well as risk management. The integration of these advanced technologies into credit decision processes enables banks to increase their efficiency and reduce costs while improving the quality of their services.

Through seamless integration with leading workflow platforms and the use of AI technologies such as computer vision and natural language processing, Konfuzio enables a holistic solution to address the challenges in real estate finance, especially in the area of credit automation.

Contact our support team and explore together the opportunities that Konfuzio can open up for your company if you are planning to automate your credit decision processes. We look forward to hearing from you:








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