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ABBYY Data Capture Technology Optimizes Loan Processing in Vietnam Foreign Trade Bank

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ABBYY Data Capture Technology Optimizes Loan Processing in Vietnam Foreign Trade Bank Success Story ABBYY Data Capture Technology Optimizes Loan Processing in Vietnam Foreign Trade Bank «We have been trying to find a data capture solution for many years but up to this time no product could meet our demands. Although we know that there are many data capture solutions, the matter is that no solution can recognize Vietnamese and therefore they can not capture data from Vietnamese documents effectively. And ABBYY FlexiCapture is the best solution we have ever seen.» – says the director of the center of credits and loans Mr. Hung, the Bank for Foreign Trade of Vietnam. About Bank for Background Foreign Trade of Vietnam economy is based on work of small and medium enterprises. In spite Vietnam (VCB) of this fact an entrepreneur should have quite a large sum to start his business, and that is not always possible. And here banks come to help. The banking VCB is the oldest and the biggest commercial bank for external affairs system plays a very important role in the operation of businesses, because 50% with branches located all over of their capital comes from the bank loans . One of the biggest banks to provide Vietnam. The bank is the full member loans for enterprise customers is the Bank for Foreign Trade of Vietnam (VCB) – of Vietnam Bankers Association, the oldest commercial bank. The bank has always been known as the most Asia Bankers Association, SWIFT, prestigious bank in trade, finance, international payments and other banking Visa, MasterCard and the leading commercial bank in trade finance, and financial services, including loans for businesses. international payment, forex dealings, advanced Banking – IT Challenge implementation and other banking A standard loan application procedure for enterprise customers includes and financial services in Vietnam. submitting many different kinds of documents to prove their financial status. 198 Trần Quang Khải, And that is one of the most important parts of the process, because the final Hoàn Kiếm, Hà Nội. decision whether to give a loan or to decline the application depends on these Telex: 411504/411229 VCB – VT particular financial statements. Tel: 84-4-9343137 Fax: 84-4-8269067 Currently most banks use some software programs to process the applications, but the data from the customer’s documents are typed into the system manually, which is time consuming and error-prone. There is a group of bank workers, each person of which spend about half an hour on boring typing data of one document into the credit scoring system directly from the keyboard. Understanding inefficiency of the process, the VCB started looking for a solution that can automatically feed the data into the system with the highest accuracy and speed. Then the bank administration faced another problem: no existing data capture software could recognize and process Vietnamese. The VCB addressed DongKinh Investment and Development Company to find a solution. The company is the leader in digitalization, data capture and DMS solutions in Vietnam. It was founded by a group of IT experts and today has already implemented some big digitization projects for the Government of Vietnam, some big banks and other organizations. www.ABBYY.com Project DongKinh team provided VCB with ABBYY FlexiCapture 9.0 to recognize financial reports of the customers in Vietnamese and extract the necessary data and feed them into the credit scoring tool to process and make decision about the loan. No integration with other software was needed. The VCB got a high quality OCR, flexible data capturing abilities, simple to use and adjust tool, high speed About DongKinh performance and release of manpower from boring mechanical work. A short Investment and training course was held for the IT team of the Vietcombank HO and in 4 months 150 licenses for 150 branch offices were installed and commissioned to work Development Co. for loan and credit processing tasks. The VCB themselves organized training Ltd. for operators in branches. Founded in 2007 by a team of Results experienced IT experts DongKinh Investment and Development is Within one year the Bank made loan decision-making process much easier now the leader in digitalization, and faster both for the customers and themselves. Now it takes only 4-5 data capture and DMS solutions in minutes to feed the data from a customer’s financial report into the credit Vietnam and supports partnership scoring tool. The system allowed releasing bank’s human resources from at a country level with such international companies as ABBYY, boring mechanical work. Motive System and Canon. The In the nearest future the bank plans to buy more licenses to supply the company has already implemented many digitization projects for the remaining 250 branch offices with the product. Ministry of Justice, the Ministry of Foreign Affairs, the Government Office, the General Department of Taxation, different banks etc. ABBYY 3A Asia, Baltic, Middle East, South America, Africa P.O. Box #32, Moscow, 127273, Russia Tel: +7 495 7833700 Fax: +7 495 7832663 [email protected] ©2010 ABBYY Software House. All rights reserved. ©1987-2003 Adobe Systems Incorporated. Adobe PDF Library is licensed from Adobe Systems Incorporated. ABBYY, the ABBYY logo and FineReader, FlexiCapture are registered trademarks of ABBYY Software Ltd. Adobe, the Adobe logo, the Adobe PDF logo and Adobe PDF Library are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries. Microsoft, Excel, Windows are registered trademarks of Microsoft Corporation in the United States and/or other countries. Fonts Newton, Pragmatica, Courier ©2001 ParaType, Inc. Font OCR-v-GOST ©2003 ParaType, Inc. All other trademarks are the property of their respective owners. Information contained in this document is subject to change without notice. Part#5425e.
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