Improvement in the processing stages of foreclosures
How Altilia can increase volume capacity and precision by automating data extraction from legal documents.
The background
The client presents an extremely complex and time-consuming process with respect to the handling of foreclosure decrees that it receives from the courts, so it intends to increase the ability to extract and verify data included into the documents so as to address the required enforcement activities as quickly as possible
Pain points
The current manual handling of foreclosure documents is slow and resource-intensive, making it difficult to scale operations.
Manual data extraction leads to a significant amount of repetitive work for operators, resulting in wasted time and higher costs.
The manual approach restricts the bank’s ability to process a larger number of foreclosure cases, limiting growth potential and impact on margins.
The decision to innovate
The bank aims to reduce the time spent on foreclosure analysis, automate repetitive tasks, and improve the accuracy and volume of data extraction to achieve a significant impact on its margins and operational efficiency.
Results & Benefit
- ~80% reduction in document processing time
- ~80% reduction in manual processing costs
- Increase in overall process capacity
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One of Italy’s oldest and largest banks, specializes in providing financial services across retail, corporate banking, and wealth management. The bank handles a significant volume of foreclosure cases as part of its debt recovery processes.
