Digital onboarding has brought countless benefits to financial institutions, whether in registrations, account openings, or the closing of new contracts. Digitalization has provided customers with greater speed and convenience, raising expectations for increasingly frictionless experiences. However, the document analysis stage is still very complex and presents major challenges for companies: after all, managers must ensure that analysts are able to carry out the process quickly, securely, and with strong insights extracted from existing data.
However, with the support of the right technological solutions, companies can turn the document analysis process into an automated one, avoiding a series of errors. In addition, the number of factors considered in these routines will grow drastically, increasing analysts’ ability to achieve the expected results in a more innovative way.
The challenges of traditional document analysis
The past few years have been marked by a series of changes in the business environment. With more smartphones in customers’ daily lives and technology embedded into strategic processes, the amount of information created in digital formats has reached an extremely high level. As a result, companies have had to adapt to remain competitive.
Consumer needs have become the focus of business routines. But for companies to create accurate profiles with data about their target audience, identify trends, and assess product performance, data analysis processes must incorporate information previously available only in digital environments.
The same applies to internal routines. For identifying operational issues, process optimization, and security analysis, it has become unthinkable to disregard digital documents given their significant advantages.
In this scenario, the use of traditional document analysis mechanisms is no longer sufficient. Traditional evaluation can no longer provide analysts with good insights, generating difficulties in cross-referencing data, validating workflows, and integrating information about the company’s daily operations.
Optimizing document analysis
Optimizing and automating the document analysis process is fundamental for companies to achieve their medium and long-term goals.
Tip: use technology to your advantage! Analyzing documents and workflows manually is a complex task. Automate your document analysis flow and work with structured data to create filters and evaluate whether your results align with each objective.
Benefits of an automated document analysis tool
Having a document analysis routine supported by IT tools can bring a series of benefits to companies. Check out some of them below!
Cost reduction
When a company is able to correctly evaluate data from its workflow, identifying areas for improvement becomes much more precise. Moreover, by eliminating operational failures, companies can reduce resource waste and create new investment opportunities.
Discover an automation tool that enables real-time monitoring of analyst productivity, identification of bottlenecks, and optimization of tasks previously performed manually.
Improved customer service
Document analysis also helps institutions optimize their customer service. The company can unify information from several service interactions within a single analysis routine, allowing it to identify all factors that contribute positively or negatively to the success of customer engagement. This makes it much easier to find the best mechanisms to meet the demands of the target audience.
Operational agility
Automated document analysis brings greater agility to the company. The time required to organize, process, and extract insights from available information becomes significantly shorter. As a result, institutions can respond more quickly to customer and partner demands.
Fraud reduction
Fraud is a problem for any business. But with automated document analysis, the chances of identifying signs of serious failures increase considerably: for example, a consumer’s entire history may be evaluated to validate information and prevent altered or fraudulent data from being used.
Cross-department integration
Document analysis also increases integration, especially when performed with the support of a technological tool. The company can cross-reference data from different areas, generating greater internal alignment. All departments can collaborate to achieve better results and contribute to more customer-focused services.
Document analysis plays a strategic role for financial institutions. When used effectively, it reduces risks, losses, and resource waste. This allows companies to achieve better medium and long-term results.
Technologies for automated document analysis
Although technology investments continue to grow every year, it is essential to know which technologies to invest in to optimize workflows, increase productivity, reduce costs, and prioritize customer experience.
Evertec currently offers the market’s most advanced enterprise platform for registration, formalization, and digital onboarding processes. This is due to its cutting-edge technologies and continuous solution development.
The Atomics platform is an AI-based document analysis solution that uses state-of-the-art technologies such as natural language processing (NLP) and machine learning (ML) to extract valuable insights from text documents. Regardless of the document format—PDF, Word, Excel, or image—Atomics can analyze it quickly and accurately.
How does document analysis work?
The magic behind Atomics lies in its ability to understand document content similarly to humans—but with unmatched speed and consistency. Using advanced algorithms, the system identifies and extracts key information such as dates, numbers, company names, and specific terms, enabling detailed analysis of large volumes of documents in seconds.
Benefits of using Atomics
- Operational efficiency: by automating document analysis tasks previously performed manually, Atomics enables teams to focus on more strategic activities, increasing operational efficiency and reducing costs.
- Informed decision-making: with quick access to accurate and up-to-date data and metrics, companies can make more informed and agile decisions, gaining a competitive advantage.
- Compliance and security: automated document analysis ensures compliance with regulations and internal policies, reducing the risk of human error and fraud.
- Scalability: from startups to large corporations, Atomics is scalable and capable of meeting the needs of companies of all sizes and sectors, easily adapting to growth and business demands.
To learn more about our solution and document analysis, speak with our specialists!
