Microsoft's adoption of the cloud by fintech from Minas reduced costs and risks
In banks and finance companies, credit analysis is a historically complicated process. Manual, slow and bureaucratic, the diagnosis of payment capacity has always been a reason for customer complaints, in addition to being an expensive process with security gaps for financial institutions.
In Brazil, fintech Simply, from Belo Horizonte (MG), has stood out for promoting the digital transformation of the activities involved in the conference and evaluation before granting credit. Using Microsoft's automation and cloud technologies, as well as Artificial Intelligence capabilities, Simply is able to reduce an activity that used to take minutes to a matter of seconds, adding more quality of service, lower cost and lower risk.
To make a fully digital credit review and verification process, Simply uses two tools. The first, called Atomics, is based on AI to automate a series of processes that were previously done manually. It electronically classifies documents such as RG, CPF, CNH, proof of address, contracts and terms of adhesion. The intelligent system is also capable of detecting fraud such as duplication and document tampering. The tool also checks if all documents are signed and, in the case of illiterate people, performs a fingerprint recognition. At the end of the process, the images of the documents are converted into data.
A second tool, S-Works, is responsible for electronically executing the tasks after sorting documents, such as: checklist, comparison of information, consultations on external sites and validation of business rules. This technology can be applied to various financial products of an institution, such as the processes of opening accounts, contracting loans, selling cards, among others.
Both Simply tools run on Azure, Microsoft's cloud, which brings together the data processing capacity necessary for the use of Artificial Intelligence, Machine Learning and manipulation of large databases. The cloud allows the processing of thousands of documents per hour, with the possibility of automatically adapting to peaks in demand without any impact on the performance and quality of service offered by Simply. The choice of Microsoft Azure was also based on security and privacy, mandatory requirements of current legislation for the financial sector.
“We identified in our operations that 30% of the proposals that our customers receive did not present all the required documents, which consumed a lot of manual conference effort. We automated all the manual work that was still done by the Banks and, through Simply solutions with the Microsoft cloud, we simplified the documentation review process. With this switch to digital, we reduced the time for analysis of the consigned credit proposal in 90% and eliminated the risk involved in the operation”, explains Roberto Rigotto.
In Brazil, fintech Simply, from Belo Horizonte (MG), has stood out for promoting the digital transformation of the activities involved in the conference and evaluation before granting credit. Using Microsoft's automation and cloud technologies, as well as Artificial Intelligence capabilities, Simply is able to reduce an activity that used to take minutes to a matter of seconds, adding more quality of service, lower cost and lower risk.
To make a fully digital credit review and verification process, Simply uses two tools. The first, called Atomics, is based on AI to automate a series of processes that were previously done manually. It electronically classifies documents such as RG, CPF, CNH, proof of address, contracts and terms of adhesion. The intelligent system is also capable of detecting fraud such as duplication and document tampering. The tool also checks if all documents are signed and, in the case of illiterate people, performs a fingerprint recognition. At the end of the process, the images of the documents are converted into data.
A second tool, S-Works, is responsible for electronically executing the tasks after sorting documents, such as: checklist, comparison of information, consultations on external sites and validation of business rules. This technology can be applied to various financial products of an institution, such as the processes of opening accounts, contracting loans, selling cards, among others.
Both Simply tools run on Azure, Microsoft's cloud, which brings together the data processing capacity necessary for the use of Artificial Intelligence, Machine Learning and manipulation of large databases. The cloud allows the processing of thousands of documents per hour, with the possibility of automatically adapting to peaks in demand without any impact on the performance and quality of service offered by Simply. The choice of Microsoft Azure was also based on security and privacy, mandatory requirements of current legislation for the financial sector.
“We identified in our operations that 30% of the proposals that our customers receive did not present all the required documents, which consumed a lot of manual conference effort. We automated all the manual work that was still done by the Banks and, through Simply solutions with the Microsoft cloud, we simplified the documentation review process. With this switch to digital, we reduced the time for analysis of the consigned credit proposal in 90% and eliminated the risk involved in the operation”, explains Roberto Rigotto.
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