VTB centralizes digital processes
Digitalization is required by financial companies for many reasons. In the case of VTB, as Natalia Romenskaya explained, the company was pushed to this by customers whose requests for the quality of service are constantly growing. At the same time, the bank’s employees themselves want this: the IT department constantly received requests for the deployment of various digital solutions.
VTB Bank has approached the digitalization process in a comprehensive manner. Within the company, several competence centers were created for blockchain technologies, artificial intelligence, machine learning and optical recognition. Clear goals were formulated.
Natalia Romenskaya described in detail the process of transition to new technologies in VTB on the example of the introduction of a document recognition and verification system. The goal of the project is to create a system of verification, electronic translation and storage of structured data in order to reduce the time for processing documents and entering data for each client into the bank’s automated system, which ultimately should create a gap from competitors in terms of efficiency and speed of work.
The current situation in the bank regarding OCR functions (optical character recognition, character recognition technology) was as follows: many different departments felt the need for this function, some of them developed OCR technology locally, within their department. Thus, there was a need to build a single centralized process for automated recognition and verification of documents on the scale of the entire bank. & #13;
At the beginning of the process of building a centralized OCR function, the bank’s analysts collected and systematized the needs of departments, estimated the number of document formats for recognition. Further, a detailed diagnosis of the process of recognition and verification of documents was carried out and the most economically feasible option was identified. Then the bank calculated the necessary financial and human resources, defined the principle of a “single window” for obtaining documents for recognition, developed a centralized license accounting system and unified rules for operating OCR solutions throughout the bank. & #13;
VTB encountered some difficulties when centralizing the OCR function. First of all, the departments — customers of the function did not have a clear understanding of the processes of electronic verification of documents, there were inflated expectations from the implementation of OCR. These difficulties were overcome by consultations and explanations organized by specialists of the VTB Information Technology Department. There was also a need to diversify the approach to the organization of recognition and verification stations. OCR stations were organized both at employees ‘ workplaces and on separate servers. Verification was organized both at the bank’s Front office and in the general service center.
As a result, VTB Bank has built a centralized process of verification and recognition of documents. OCR technology is planned to be used for automated verification of borrowers, processing of primary documents.
The bank’s experts identified several key advantages of the centralization of OCR technology. First, the time costs and the cost of document verification are reduced due to centralized license purchases. Secondly, due to the unification of business processes, their efficiency increases and operating costs are reduced. In addition, the time for searching for the necessary documents is reduced and the speed of document flow increases, and structured information can be used for a whole range of different tasks.
VTB Bank practices a comprehensive approach to the introduction of new technologies and considers digitalization as a tool for improving the work of a credit institution as a whole. The introduction of a centralized OCR system is just one of a huge number of projects aimed at transforming the bank into a digital enterprise.