The Largest Portuguese Payment Network Just Got Faster With DocDigitizer
Doc a year
UNICRE is a Portuguese company of reference with over 45 years of experience in the payments and credit markets. Trough the Unibanco Brand, UNICRE issues cards with multiple functionalities which include credit, different insurance solutions both associated to the card and autonomous. Through the Redunicre brand it provides multiple payment solutions with diverse brands such as: Visa, Vpay, Visa Electron, Mastercard, Maestro, JCB, Diners Club International, UPI, Discover and ELO.
UNICRE also creates dedicated services that add value to businesses in multiple areas of activity.
“Over 68% of our credit onboarding include images captured by mobile.”
The document validation for credit request is becoming more and more demanding with an omnichannel approach that led to 68% of onboarding credit processes to be done through mobile devices.
In 2021 UNICRE reached a new historical record surpassing 20.4 thousand million Euros in approximately 600.000 transactions.
“Technological innovation is fundamental today as a factor of differentiation and something that is becoming normal in every sector. Namely all those where the competition is fiercer such as the Financial Sector”
The situation to be solved
Record Number of Onboardings Requires
New Tech Solution
With a record number of transactions, the number of documents to be analyzed has grown significantly to over 240.000 documents a year in a single financial product. This has increased the pressure to automate the whole onboarding process reducing the time required for information extraction and validation as well as the man-hours required.
Before DocDigitizer the whole validation process was manual, requiring information validation by humans. The process has now gained speed, being much faster and rigorous.
The pain point was a limited response capability and an outdated technological solution that needed to be updated and streamlined to provide a faster and user-friendly service while complying with all internal rules and external laws.
Why Choose DocDigitizer?
How it was solved
OCR with Learning Algorithms
and Human Validation
UNICRE was looking at the market for OCR solutions when João Fernandes made a on the fly demo of DocDigitizer that checked and surpassed all the OCR boxes. But UNICRE was looking for an integrated Solution. It turned out that the chosen integrated solution relied on DocDigitizer for document information extraction.
In the comparison process, DocDigitizers machine learning algorithms proved themselves as an important part of the whole document validation process. The proof of address presents itself as one of the most challenging documents from where to extract information due to the vast number of different paper documents that can be used. Also, the salary receipt presents itself in a wide variety of shapes and forms that would require multiple templates or a learning algorithm that can adapt itself to new realities with minimum human intervention.
As the project moved to production there were the normal bumps that showed the colors of DocDigitizer’s support team as they solved all the issues that popped up during implementation.
Along the decision process, the fact that DocDigitizer was in Portugal and fully GDPR compliant, was an important asset, as it solved a great number of compliance issues.
DocDigitizer’s automation was implemented in parallel with the existing manual process to validate both speed and error. As confidence grew, the human team was reduced saving years of manhours.
The increase in efficiency gained by implementing DocDigitizer’s information extraction and validation is noteworthy, but the company itself, the way they interact with UNICRE both businesswise and solution wise is something that was praised by the top management as a true partner company that proactively addresses issues and proposes excellent solutions at a fair value.
UNICREs new fully Automated Credit
Onboarding has a Near Real Time
DocDigitizer has proven that it can walk the walk as a partner company with an out-of-the-box approach to the way the two companies work together. Since the minimal contracted volume was not being fulfilled, DocDigitizer took the initiative to approach UNICRE and explore how the unused contracted resources could be used to help UNICRE’s business.
Both companies are now working in new projects, restructuring processes to take advantage of all the contracted resources bringing UNICREs’ main product to a new age of automation freeing it from the spreadsheet trap and heavy information validation effort.
DocDigitizer Is A Cutting-Edge
DocDigitizer is a cutting-edge AI-based company specialized in delivering the best-in-class AI data-processing solutions to support data-driven hyper-automation with the mission of unburdening people from robotic work.
Since 2017, DocDigitizer’s hyper-automation platform has helped Global 2000 organizations to process vast amounts of unstructured inputs and raw information unlocking the benefits of hyper-automation over complex and unstructured mission-critical processes. We help companies reach their full potential through data by empowering their digital transformation, drive operational efficiency and human productivity, and unlocking the power of their data.
DocDigitizer is ranked as one of the Fastest-Growing Company in EU, has earned multiple Fintech awards, and is one of the most disruptive and promising vendors according to Gartner's Natural Language Processing Hype Cycle.