Legal
As industries collectively move towards digital solutions, legal organizations have emerged as the agile pioneers of advanced technology transformations, evolving services for stakeholders across markets.
Leading banks around the world are implementing and transforming their processes at lightning speed to enhance information processing, drive productivity and unlock growth.
Financial Services
Robust digital infrastructures based on one-stop document classification and data extraction solutions are crucial to optimise business operations, drive insights and improve customer satisfaction.
01 Hyper-automating Non-Performing Loans (NPL) recovery
Lawsuit population for the recovery agencies
Automation of lawsuit population to support the recovery of Non-Performing Loans (NPL) loans in Spain involves manually classifying and extracting data from dossiers, containing various types of complex legal and financial documents
Document classification and data extraction
We deployed Omnitive MIDP to classify documents, read and extract datapoints from purchased debt dossiers — including debt certificates, contracts, account details and movements, tax fillings, etc. —. We integrated with IBM’s RPA to download files from SFTP, feed them to Omnitive MIDP, and automatically populate lawsuits.
The advantages of lawsuit population with Orkid
100% automation of lawsuit generation
Generating stability and predictability in an otherwise fallible manual process.
Compliance checks
At any time, areas of potential risk were to be highlighted and flagged to the legal team to perform compliance checks.
Significant operational boost
The solution’s accuracy marked a significant improvement from the prior highly inconsistent and error-prone manual process.
KPIs
02 Hyper-automating Oficios (MXP)
Oficios for banking legal services
Automation of oficios processing in Mexico entails classification and data extraction from millions of oficios yearly containing complex legal and administrative terms, inclusive of validation against official sources.
Datapoint extraction, validation and normalization
We deployed Omnitive MIDP to classify documents, extract datapoints, and normalize outcomes against Comisión Nacional Bancaria y de Valores (CNBV) repositories.
The advantages of Oficios automation with Orkid
Operational risk reduction
Transformation of the previously expensive manual workflow into a leading-edge automated solution that mitigates reputational risk and frees resources..
Quality of service improvement
Boost in processing speed and a reduction in processing errors, leading to faster respond times to government requests and superior service levels.
Digital innovation
KPIs
03 Hyper-automating Land Registry Excerpts
Land registry excerpts for Law firms and financial instituions
Automation of Land Registry Excerpt processing in Spain entails data extraction from millions of excerpts yearly containing complex legal and real estate terms, inclusive of details on liens and encumbrances.
Datapoint extraction, validation and template population
We deployed Omnitive MIDP to, read and extract data from land registry excerpts — e.g., type of property, ownership, size, type, boundaries, etc. —, and validate outcomes, ensuring accuracy and compliance.
The advantages of automating Land registry processing with Orkid
Best in class
Transformation the previously expensive manual workflow into a leading-edge automated solution to promote excellent services in a climate of trust and security.
Unique value propositions
First industry-wide automated solution to process land registry excerpts, inclusive of liens and encumbrances.
Seamless integration
Private and public cloud deployments easily connect to back-end workflow and core business model delivering lightning speed processing and outcome accuracy.
KPIs
04 Hyper-automation of mortgage applications
Mortgage processing for banks, law & real estate firms
Automation of mortgage application in Spain entails classification and data extraction from millions of dossiers containing complex legal, tax, real estate and financial documents
Document classification and data extraction
We deployed Omnitive MIDP to classify documents, read and extract datapoints from mortgage applications — including payroll, labor life, tax (036, 130, 131, IRPF), land registry excerpts – inclusive of leans and charges -, valuation, invoices, DNI / INE, etc. The solution enable maker-checker approach as it is customary in complex automations.
The advantages of Hyper-automation of mortgage applications with Orkid
Pushing the limits of scalability
ORKID’s Neurosymbolic AI-powered hyper-automation solution pushed the boundaries of traditional automation in complex tasks requiring experience, skill, and training. It effectively integrated the necessary legal, financial, real estate and financial domain knowledge.
Extreme accuracy
The extreme accuracy generated stability and predictability in an otherwise fallible manual process. This intelligent solution helped advance innovation, delivering substantial savings in specialized staff work hours and overhead costs, while also enhancing productivity.
Time reduced
It impressively reduced the time required to evaluate a mortgage to just 6 minutes, involving a final checker run, and the associated costs by 5.8 times, which helped push the top line and profitability alike.
KPIs
05 Hyper-automating Proof of Income
Credit assessment for retail loans
Automation of proof of income evaluation for retail loans in Spain entails classification and data extraction from millions of dossiers containing complex legal and financial documents.
Document classification and datapoint extraction
We deployed Omnitive MIDP to classify documents read and extract datapoints from consumer loan applications — including payroll invoices DNI / INE bank statements and various tax relevant documents — among others
The advantages of Proof of income automation with Orkid
Operational efficiency gains
Omnitive MIDP transformed the previously expensive manual process into a leading-edge automated solution, avoiding errors and saving time.
Improved customer service
Lenders saw a boost in their capacity and processing speed enabling them to achieve faster turn arounds and better customer service leading to revenue and profitability growth.
Compliance
At any time areas of potential risk were highlighted and flagged to perform compliance checks, resulting in a robust and reliable automation.
01 Hyper-automating Non-Performing Loans (NPL) recovery
Lawsuit population for the recovery agencies
Automation of lawsuit population to support the recovery of Non-Performing Loans (NPL) loans in Spain involves manually classifying and extracting data from dossiers, containing various types of complex legal and financial documents
Document classification and data extraction
We deployed Omnitive MIDP to classify documents, read and extract datapoints from purchased debt dossiers — including debt certificates, contracts, account details and movements, tax fillings, etc. —. We integrated with IBM’s RPA to download files from SFTP, feed them to Omnitive MIDP, and automatically populate lawsuits.
The advantages of lawsuit population with Orkid
100% automation of lawsuit generation
Generating stability and predictability in an otherwise fallible manual process.
Compliance checks
At any time, areas of potential risk were to be highlighted and flagged to the legal team to perform compliance checks.
Significant operational boost
The solution’s accuracy marked a significant improvement from the prior highly inconsistent and error-prone manual process.
KPIs
02 Hyper-automating Oficios (MXP)
Oficios for banking legal services
Automation of oficios processing in Mexico entails classification and data extraction from millions of oficios yearly containing complex legal and administrative terms, inclusive of validation against official sources.
Datapoint extraction, validation and normalization
We deployed Omnitive MIDP to classify documents, extract datapoints, and normalize outcomes against Comisión Nacional Bancaria y de Valores (CNBV) repositories.
The advantages of Oficios automation with Orkid
Operational risk reduction
Transformation of the previously expensive manual workflow into a leading-edge automated solution that mitigates reputational risk and frees resources..
Quality of service improvement
Boost in processing speed and a reduction in processing errors, leading to faster respond times to government requests and superior service levels.
Digital innovation
KPIs
03 Hyper-automating Land Registry Excerpts
Land registry excerpts for Law firms and financial instituions
Automation of Land Registry Excerpt processing in Spain entails data extraction from millions of excerpts yearly containing complex legal and real estate terms, inclusive of details on liens and encumbrances.
Datapoint extraction, validation and template population
We deployed Omnitive MIDP to, read and extract data from land registry excerpts — e.g., type of property, ownership, size, type, boundaries, etc. —, and validate outcomes, ensuring accuracy and compliance.
The advantages of automating Land registry processing with Orkid
Best in class
Transformation the previously expensive manual workflow into a leading-edge automated solution to promote excellent services in a climate of trust and security.
Unique value propositions
First industry-wide automated solution to process land registry excerpts, inclusive of liens and encumbrances.
Seamless integration
Private and public cloud deployments easily connect to back-end workflow and core business model delivering lightning speed processing and outcome accuracy.
KPIs
01 Hyper-automating Non-Performing Loans (NPL) recoveryyy
Lawsuit population for the recovery agencies
Automation of lawsuit population to support the recovery of Non-Performing Loans (NPL) loans in Spain involves manually classifying and extracting data from dossiers, containing various types of complex legal and financial documents
Document classification and data extraction
We deployed Omnitive MIDP to classify documents, read and extract datapoints from purchased debt dossiers — including debt certificates, contracts, account details and movements, tax fillings, etc. —. We integrated with IBM’s RPA to download files from SFTP, feed them to Omnitive MIDP, and automatically populate lawsuits.
The advantages of lawsuit population with Orkid
100% automation of lawsuit generation
Generating stability and predictability in an otherwise fallible manual process.
Compliance checks
At any time, areas of potential risk were to be highlighted and flagged to the legal team to perform compliance checks.
Significant operational boost
The solution’s accuracy marked a significant improvement from the prior highly inconsistent and error-prone manual process.
KPIs
02 Hyper-automating Oficios (MXP)
Oficios for banking legal services
Automation of oficios processing in Mexico entails classification and data extraction from millions of oficios yearly containing complex legal and administrative terms, inclusive of validation against official sources.
Datapoint extraction, validation and normalization
We deployed Omnitive MIDP to classify documents, extract datapoints, and normalize outcomes against Comisión Nacional Bancaria y de Valores (CNBV) repositories.
The advantages of Oficios automation with Orkid
Operational risk reduction
Transformation of the previously expensive manual workflow into a leading-edge automated solution that mitigates reputational risk and frees resources..
Quality of service improvement
Boost in processing speed and a reduction in processing errors, leading to faster respond times to government requests and superior service levels.
Digital innovation
KPIs
03 Hyper-automating Land Registry Excerpts
Land registry excerpts for Law firms and financial instituions
Automation of Land Registry Excerpt processing in Spain entails data extraction from millions of excerpts yearly containing complex legal and real estate terms, inclusive of details on liens and encumbrances.
Datapoint extraction, validation and template population
We deployed Omnitive MIDP to, read and extract data from land registry excerpts — e.g., type of property, ownership, size, type, boundaries, etc. —, and validate outcomes, ensuring accuracy and compliance.
The advantages of automating Land registry processing with Orkid
Best in class
Transformation the previously expensive manual workflow into a leading-edge automated solution to promote excellent services in a climate of trust and security.
Unique value propositions
First industry-wide automated solution to process land registry excerpts, inclusive of liens and encumbrances.
Seamless integration
Private and public cloud deployments easily connect to back-end workflow and core business model delivering lightning speed processing and outcome accuracy.
