Challenges

The bank faced significant operational challenges in handling the vast array of documents and information related to each phase of property development. Key difficulties included:

Manual Data Extraction: The bank’s team was tasked with manually extracting critical data from thousands of billing documents. This included details such as billing date, builder’s name billing amount, billing description and other essential data points tied to each phase of property construction.

Inconsistent Document Formats: The documents were not standardized, varying in format, layout, and quality. As a result, extracting accurate information manually was time-consuming and prone to error.

Manual Data Entry: After data extraction, the team manually entered the extracted information into the banking core system. This process was tedious, time-consuming, and error-prone, creating a significant bottleneck in the workflow.