Bank in Sri Lanka uses Cheque Recognition in fully automated Branches

The Bank needed a Kiosk-integrated, Cheque Scanning & Recognition solution within its new automated Branches that provide self-service banking to its customers. The metadata that needed extraction from the cheques were either printed or handwritten.

The Cheque processing solution that was implemented helped the Bank achieve high levels recognition and became an integral part of the Bank’s digital transformation plan.

Gathering and transferring paper documents consumes 90% of typical office tasks.
The average document gets copied 19 times.
Professionals spend 50 percent of their time searching for information, and take 18 minutes to locate each document on average.
Estimates indicate that most offices waste 65 cents of every dollar spent, in handling records.
Following a disaster, 4 out of 10 businesses never reopen. Of those that do, 25% close within 2 years.
7.5% of all documents get lost, 3% of the remainder get misfiled.
Companies that need to redo documents pay 11 times more than the cost of the original document...
Employees spend more than 50% of their time searching for information.
Corporate data doubles every 12 to 18 months, 85% of which are documents.
The average company spends 5% to 15% of its revenue on its document lifecycle costs.
Executives spend 5-15% of their time reading information but 50% looking for it.
7.5% of all documents get lost, 3% of the remainder get misfiled.
Companies spend 5% of their total filing costs on equipment, 20% on space and 70% on salaries.