OrangeWorkforce Use Cases
AI Speeds Cheque Clearing to 2 Seconds, Boosting Bank Productivity by 41%
Industry
Banking & Finance
Results
- 42% cheques cleared by OrangeAI
- 41% improvement in human resource allocation
- OrangeAI and OrangeWorkforce live in 6.5 months and 3 months respectively
Applications Involved
- INCHEQS
- Microsoft Excel
The Bank is one of the Top 5 largest financial institutions in Malaysia with a high cheque volume to process.
Manual Process Before OrangeWorkforce RPA:
- Manual verification of approving or rejecting digital cheques, which was time-consuming due to high cheque volume during the Covid-19 pandemic
- The Bank realised that manual screening was not meeting their needs due to:
- - High labour costs incurred
- - High fraud rates
- - Operations restrictions on staff working on premises during pandemic
Automated Process with OrangeWorkforce RPA:
- Cheque verification automation using OrangeAI ATV was integrated seamlessly with InsiteMY’s INCHEQS-ICS and ICS HC systems to automate the Bank’s cheque verification process
- The Bank’s cheque elements (date, payee name, amount in words, amount in figures, MICR, signature, etc.) are electronically captured and verified using AI, machine learning, and Optical Recognition (OCR) technology
Results After OrangeWorkforce RPA:
With OrangeAI ATV, the Bank was able to continue cheque clearing activities with staff working from home during the pandemic.
- OrangeWorkforce RPA successfully made live in in 3 months
- OrangeAI ATV successfully made live on premises in 6.5 months
- Each cheque verification took only <2 seconds with OrangeAI ATV, as compared to >30 seconds per cheque with traditional manual screening
- Human resources were reduced by 41%
- Reduced pandemic impact on operations
- Increased productivity and process accuracy
