DBS AND MULTIPASS SOLUTIONS LIMITED WIN BEST CLOUD BASED PROJECT IMPLEMENTATION AWARD IN THE ASIAN BANKER TECHNOLOGY IMPLEMENTATION AWARDS PROGRAMME 2014
DBS pioneered an intelligent data-entry solution through private cloud
The intelligent data-entry solution, combined with optical character recognition, provides automated form recognition, breaking down full pages into separate snippets of data
New forms are processed twice as quickly due to snippet processing
Kuala Lumpur, May 21st 2014 – DBS and its technology partner Multipass Solutions Limited have been named the winners of the Best Cloud Based Project Implementation Project Award during the eighth Asian Banker Technology Implementation Awards Programme, held at the Kuala Lumpur Convention Centre, Kuala Lumpur on May 21st 2014. The awards ceremony was held in conjunction with The Asian Banker Summit 2014, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region.
DBS and Multipass Solutions rolled out a pioneer solution which uses a private cloud based on a high-availability service to handle multi-site, multi-country intelligent data entry. This new-generation solution provides intelligent data entry through automated form recognition by breaking down full pages to separate snippets of data. Its optical character recognition and intelligent character recognition capabilities, together with a fast snippet data entry web application, enable expedited data entry of the contents of selected fields of scanned forms. The solution resulted in significant reduction in paper processing and processing time, improving productivity by 40% within the first week of implementation. Merchant summary ticket processing is 63% faster and merchant sales slip processing is 55% faster.
BESIDES ALLOWING CLIENTS TO ACCELERATE PROCESSING TIMES THE MAIN BENEFITS INCLUDE:
ensuring data confidentiality even when data entry is outsourced abroad
flexibility to adapt the solution to any type of document or form on short notice
The award winning document and form processing solution is designed to receive data from major scanning or document processing software. Once the scanned images are on board and their quality is improved, the document type is automatically recognized using fingerprinting technology. Next, the scanned image is fragmented into tiny information “snippets”, which are meaningless on their own, to guarantee the confidentiality of the data. Then these snippets are subjected to optical character recognition (OCR, ICR) and distributed to multiple users for manual data entry. This guarantees faster data processing and near 100% accuracy, since the outcomes of automated recognition and manual data entry are automatically cross-checked, without human interference. The latter drastically reduces, or even eliminates, personnel costs related to supervising the process. Thus, all data entry can be outsourced to any part of the world without the risk of sensitive company or user information leaking out. At the end of the process, all the results are loaded directly to the company ECM or enterprise systems, with all the necessary metadata and access rights.
THE ASIAN BANKER AWARDS
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Hong Kong, Beijing and Dubai as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums.
The company’s website is www.theasianbanker.com
The awards programme, administered by The Asian Banker and refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind. A stringent three month long evaluation process determines the winners from across Asia Pacific, Middle East and Africa. The winners are honoured at a glittering event that recognises their efforts in using the best technology to run their institutions and bring superior products and services to their customers.