Banks digitize with AI Konfuzio

Konfuzio learns new interdisciplinary tasks and can be used throughout the company. Find inspiration for possible use cases for Konfuzio AI at your company.
For more information, please feel free to request a handout.

    Inquiries

    Vehicle registration document
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    Challenge

    For the evaluation of credit requests, various documents are often used to check creditworthiness. For the financing of a motor vehicle a lot of information can already be taken from the vehicle registration document. Frequently, the data from the documents about the deposited securities is manually entered by the customer advisor.

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    How can Konfuzio help?

    Konfuzio checks the documents for completeness, possible manipulation, extracts the required data and makes them available for further processing of the credit application.

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    Solution

    No manual typing is required to collect data from the delivered vehicle documents. Both the credit application and the required securities can be reviewed more quickly. The customer is won over by a fast approval with a cost-effective internal check.

    Understanding

    Salary statement
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    Challenge

    If the fixed interest rate of the initial loan expires, borrowers need follow-up financing for the remaining debt. It is important to make a new offer or draw attention to a forward loan at an early stage for the borrower to decide on an in-house follow-up financing and not have the debt rescheduled with another lender. When the follow-up financing is concluded, it becomes necessary to update any documents, such as proof of equity and salary statements for the last three months.

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    How can Konfuzio help?

    Konfuzio automatically reads the submitted current documents. For example for salary statements of different structures, fields such as the payment amount, gross salary, tax class, and other employee data are extracted.

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    Solution

    The lender binds customers through fast processing and receives a comprehensive, data-driven picture of the customer.

    Support

    Insurance certificate
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    Challenge

    A bank's letter of credit business barely contains automatic processing, since both the credit bank and the correspondent bank must subject a large number of documents to individual checks. For example, the insurance certificate of the accredited goods delivery is required in advance to ensure the execution of payments.

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    How can Konfuzio help?

    Konfuzio automatically reads the required data, such as the shipping date, the specification of the insured goods or the transport route. This enables a quick comparison across other documents.

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    Solution

    For the payment processing after a thorough check of the documents' conformity with the letter of credit, no manual reading of the data is necessary. At the same time, incomplete documents are identified more quickly, queries are sent and processes are improved.

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    Credit agreement
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    Challenge

    One way of offering better conditions than other lenders in the area of loan financing for current contracts is to replace an old loan with a debt rescheduling. However, the question of whether a rescheduling is worthwhile for the borrower can only be answered after careful examination of the loan agreements. In the case of installment loans, for example, it is necessary to consider the characteristics of the loan in order to determine the regulated amount of compensation payments.

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    How can Konfuzio help?

    In old contracts of various formats, Konfuzio distinguishes relevant sections such as special clauses and termination conditions. In addition, other data such as the loan amount and payment terms can be automatically read and prepared.

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    Solution

    Konfuzio replaces completely the manual thinning of old contracts. This enables the potential new lender to quickly provide optimal advice and prepare a corresponding offer for debt restructuring. The borrower benefits from better conditions when the old loan is repaid and the new lender from a data-driven new business.

    Manage

    Identity document
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    Challenge

    Inventory data must be regularly checked for up-to-dateness due to changes in regulations such as the obligation to file copies of identification cards in accordance with the German Banking Act (GWG). The data in documents already stored or for the creation of a new customer are often revised manually and stored in a corresponding database.

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    How can Konfuzio help?

    Data from existing or new ID documents is automatically extracted from the scanned document. This data can then be imported into an existing system and reused – completely without manual input.

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    Solution

    A quick check of the inventory data due to new regulations is possible without considerable additional effort. Typing is no longer necessary and the search for relevant documents is reduced to a minimum.

    Identity card
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