Empowering businesses with data driven automation by helping Financial Service Providers to Streamline Pension Consolidation

The Challenge

Simplifying a Complex Landscape.

A large financial services provider offers a service to its customers to consolidate all their pensions from different employers into one pension. This requires collecting pension benefit statements associated with each previous employment. Each pension provider’s benefit statements has varying levels of information, spanning from concise summaries to exhaustive documents exceeding 100 pages. This diversity in format and length creates a complex landscape that resists automation. As a result, manual data extraction was used.

The Solution

Embracing Intelligent Document Processing
We deployed our cutting-edge Intelligent Document Processing (IDP) product with a simple and seamless integration into the pension provider’s platform.

Automating Data Extraction: Precision Meets Efficiency
Our IDP solution proved to be a game-changer, no more manual data extraction from benefit statements and re keying into other systems as our IDP system effortlessly captured, validated, and the processed data.

Adapting to Changing Volumes: Flexibility at its Finest
We removed the providers concerns about resourcing and staffing concerns due to fluid customer volumes. Instead, they welcomed the newfound scalability that came hand-in-hand with IDP implementation, ensuring consistent service levels and an exceptional customer experience, regardless of fluctuations in sales volumes.

Consistent Accuracy: Where Reliability Meets Trust
The manual data extraction process introduced inconsistencies, leading to discrepancies in accuracy across team members. Our IDP solution ensured unwavering precision, delivering dependable results every time. 

Streamlined Client-Level Insights: Empowering Informed Choices
The provider can access client’s cumulative pension values effortlessly. Armed with comprehensive and accurate information, they empowered their customers to make informed choices regarding their retirement, ultimately shaping brighter financial futures.