Advance Remittance Payment Process
Optimising the advance remittance payment processing using IA & ML.
Key Barriers
Solution
Intelligent automation and machine learning solutions for advanced remittance payments are capable of improving the operational performance of business processes by strengthening compliance and security. As a core tenant of system functionality the solution tracks, logs, and reports on all suspicious activities.
How it works?
STEP 1
To identify and extract the submitted information match it with blacklisted countries and check if the amount is higher than a given limit.
STEP 2
The extract remittance amount is also matched with payment made to the bank to ensure the correctness of the submitted document.
Benefits