Top Financial Services Group in Southeast Asia Selects Top Image Systems for Trade Finance Solution
TEL AVIV, Israel and PLANO, Texas, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (TISA), a global provider of solutions that facilitate digital business, today announced that one of the largest financial services group in Southeast Asia, with over 500 branches, has selected Top Image Systems to implement an automated Trade Finance document processing solution.
The Trade Finance Operations Department receives approximately 10,000 documents daily from various channels. Documents received require manual data entry for validation through highly labor-intensive and error-prone manual processes, resulting in process inefficiencies and increased transaction costs.
The automated TIS Trade Finance document processing solution automates the capture, recognition and classification of incoming documents. Utilizing its advanced machine learning technology, the solution processes a wide range of document templates and automatically transfers text and handwritten content into the enterprise trade processing system, thereby improving customer service levels and reducing transaction costs. The Trade Finance Operations Department is well positioned to gain better insight to their customers, accelerate decision-making, and, in the long term, embrace new emerging technologies such as Blockchain.
“We are encouraged by the traction we are seeing in the Asia Pacific region for our banking automation solutions that encompass digital mailroom, cheque processing, trade finance and sanctions screening,” commented Brendan Reidy, CEO. “Banking and financial services represent a significant contribution to our overall revenue mix globally. We are poised to capitalize on the increased investments that banks and financial services organizations are making to automate highly labor-intensive processes in order to reduce transaction costs and improve customer service levels.”
