Compliance and Internal Processing Solutions and Services

Fast track service delivery and maintain integrity of records by ensuring that the bank’s records are complete, consistent, and compliant with business rules and regulations.

In view of the high number of documents handled by a bank on a day-to-day basis, SVI developed a proprietary application called CrossCheck to help banks streamline and automate the processes for digitizing, verifying, and reviewing documents.

Once inputs are accurately and completely processed through SVI’s digitization service, CrossCheck’s internal modules can be implemented for further processing and usage of data, including automated verification of the 3Cs – completeness, consistency, and compliance. CrossCheck automatically verifies document and data completeness, data consistency, and the overall compliance with the bank’s business rules, eliminating manual checking by bank personnel, freeing up so much of their time, and ensuring 100% accuracy of findings.

Take for example the processing of credit card applications. The service involves not only the scanning and encoding of credit card application documents, but also the automated verification of completeness, consistency, and compliance of the provided information and documents, so the system can automatically filter which applications are eligible to proceed to the credit investigation step. There is also a web-based facility to view and regularize the exceptions or the incomplete, inconsistent, and non-compliant applications.

The tools and methodologies used are also readily implementable for internal corporate documents such as employee records, accounting records, and vendor contracts, or other types of customer records, including account opening documents and loan applications, among others. By outsourcing and automating the processing of documents, banks can achieve better compliance with regulations, increased operational efficiency, faster approval time, higher approval rates, and ultimately, better customer experience – all of these without having to incur additional capital investments and fixed costs. We grow when you grow, so expect that we will always do our work in the best of your interest.