BANK11’s business involved the daily, repeated typing in of data from vehicle-related documents. In total, BANK11’s employees were processing around 190,000 vehicle registration documents per year – by hand. The large number of manual operations involved was not only time-consuming but also costly and prone to error. It also represented a burden for the company’s employees, keeping them from a much more important task: that of providing a good service and to quickly approving credit applications.
Bank11 was therefore eager to automate the processes involved. Although standard software solutions exist for reading documents, the extraction of data from vehicle registration documents represents a special case that is subject to specific stumbling blocks.
Bank11 is a credit institution that specializes in sales financing. It focuses on assisting smaller and medium-sized vehicle dealerships with competitive mobility services and insurance products. Bank11 provides straightforward and cost-effective finance products for end customers and robust liquidity solutions for automobile dealerships. Thanks to the use of digital “floor checks,” Bank11 also offers significant efficiency gains in the purchase of financing, thereby saving time and reducing risk. Bank11’s range of services is also distinguished by the skilled personal support provided by a specially trained field and office-based team.
Head of Strategic Innovations & Digitization
BANK11 für Privatkunden und Handel GmbH
As part of our proof of concept, we worked with tarent on the goal of automating the way we capture vehicle registration documents (authorization certificates) and enhancing data quality. The result? We’ve been able to reduce processing time from 1-2 minutes to 30 seconds and the error rate from around 20% to 5% – with a total volume of approx. 100,000 letters. All in all, the colleagues from tarent implemented the project very quickly and professionally – and showed real passion for their work.
tarent solutions GmbH
Working on this exciting OCR project for Bank11 was an awesome experience. It was a great challenge and one we were able to successfully resolve with creativity and the latest technologies. The constructive and straightforward cooperation with Bank11 was particularly positive for us. We are very proud of the sensational result, which exceeded all of our expectations.
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