Indico Data receives top position in Everest Group's Intelligent Document Processing (IDP) Insurance PEAK Matrix® 2024
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  Everest Group IDP
             PEAK Matrix® 2022  
Indico Named as Major Contender and Star Performer in Everest Group's PEAK Matrix® for Intelligent Document Processing (IDP)
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CASE STUDY


Top 10 Bank accelerates processes 85%

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85%

process acceleration

Company profile

This top 10 US bank is a Fortune 500 company with more than 300B in managed assets. Their retail banking operation issues credit to more than 12M customers and SMBs while their list of corporate banking clients spans two thirds of the Fortune 500.

Problem

In 2017 the bank formed a centralized team to lead AI and automation efforts across the company but it quickly became apparent that no single technology could address all of their requirements. One solution might work for invoices, and another might for lease agreements. However, there was no single solution that could handle all their unstructured use cases.

Solution

This bank needed something that could meet strict regulatory requirements and worked across use cases, without making their AI and Analytics teams a bottleneck. After evaluating a dozen vendors and experimenting with RPA, virtual assistants, intelligent document processing, and more, they settled on the Indico Unstructured Data Platform as their de facto standard for unstructured use cases.

Results

This bank now applies Indico’s platform across business units to process lockboxes, invoices, mortgages, lease agreements, and commercial debt. This bank’s automation journey is just beginning and they’re already seeing process accelerations of 85%.

We cut bait fairly quickly on the legacy document automation approach and spent several years looking at a variety of technologies as the technical capability continued to mature.

-VP of AI and Automation

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Unstructured Unlocked podcast

April 10, 2024 | E44

Unstructured Unlocked episode 44 with Tom Wilde, Indico Data CEO, and Robin Merttens, Executive Chairman of InsTech

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March 27, 2024 | E43

Unstructured Unlocked episode 43 with Sunil Rao, Chief Executive Officer at Tribble

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March 13, 2024 | E42

Unstructured Unlocked episode 42 with Arthur Borden, VP of Digital Business Systems & Architecture for Everest and Alex Taylor, Global Head of Emerging Technology for QBE Ventures

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