Use Cases

Intelligent Automation in Financial Services

Automate increasingly complex financial services processes, from input to actionable data.

To stay competitive, financial institutions need to streamline document- and data-heavy processes without compromising on accuracy or customer service.

The Hyperscience Platform helps speed up document processing, improve the accuracy and timeliness of your decisions, and free up resources to focus on delivering frictionless customer experiences your competition can’t match.

Mortgage Pre-Processing

In 2020, US home sales reached a 14 year high and 200% annual increase in refinancing.

Manually processing various income and identity documents such as bank statements, W2s, and proof of employment is costly and inefficient. To control costs, keep up with demand, and streamline operations, lenders need to upgrade their pre-processing workflows to automation.

The Hyperscience Platform converts semi-structured and unstructured document formats into actionable data that can be used to drive faster, more reliable downstream processing with customized business rules. Firms will be able to better leverage internal bank data and streamline the process of acquiring required customer information, allowing lenders to review applications faster.

Account Opening

Currently, it can take between 20-90 days to onboard a new commercial bank client. The delay in account opening can mean $25,000 of lost revenue. 

Account applications and transfer of account (TOA) forms contain valuable information that client services teams need to process on top of due diligence-related onboarding processes like anti-money laundering (AML) and know your customer (KYC). These processes require organizations and their employees to classify and extract large amounts of sensitive customer information from proof of identification documents (such as a passport or driver’s license), proof of address forms (like a utility or rent bill), invoices, and other diverse forms and images. 

The Hyperscience Platform can speed the bank onboarding process while mitigating associated cost and risks, helping financial institutions meet regulatory standards without increasing headcount. By switching to automation, a typical commercial bank would see around $100 million in one-time savings from automating onboarding tasks.

Account Servicing

Unpredictable influxes of new requests can inundate already overwhelmed employees and systems, extending time-to-decision. 

Whether it’s an IRS form or bank statement, account maintenance forms, beneficiary updates, or address changes, extracting and validating sensitive customer information and making that data available to the right systems is key to knowing what to approve and what to deny. 

The Hyperscience Platform quickly and accurately parses through the structured, semi-structured and unstructured document formats involved in typical account maintenance requests. Hyperscience can validate customer information against master data and confirm someone is an existing customer or that asset balances and account balances match. Once the required information is extracted, Hyperscience can package and send it to specific teams, operating systems, or systems of record for decision-making.

From when we signed the agreement to when we started to see data flow through, it was a matter of 5-6 weeks.
- Sean Van Moorleghem, Managing Director, TD Ameritrade

Get a Demo

Our experts will walk you through:

  • How to classify and extract data across complex, difficult-to-read documents, including handwritten forms, PDFs, images, emails and more.
  • How the Hyperscience Platform intelligently plugs into your document processes with out-of-the-box and customizable tasks, workflows, and connectors.
  • Plus live expert Q&A to answer any questions you have!
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