Fund Flow 360

Overview

• Reliance on manual processes with minimal automation.
• Standardized procedures not fully implemented.
• Numerous business rules for managing payments.
• Inefficient payment workflows, Manual steps to process unstructured documents in form of payment slips are compounded by frequent manual errors.
• Human intensive fund transfer process and Frequent manual errors lead to delays in invoice processing.
• Banks must adhere to stringent checks to ensure secure transfers to beneficiaries.
• Additional hurdles due to compliance needs.

Key Features & Functionality

Fund transfer process focuses on movement of money between accounts, whether within the same bank or across different financial institutions. This process typically involves a series of steps such as intake, payment preparation, review and release, which in turn facilitate the debit of the remitter's account and the credit to the beneficiary's account.

Below are the key solution tenets.

• Harmonizing AI and human expertise for invoice processing
  
  • Enables faster and more accurate data extraction
• Automatic Invoice Data Reading using Appian AI Skill object
  
  • Automatic case creation from uploaded/emailed documents
• Smart Chat support with Appian Gen AI or AI Co-pilot
  
  • Automatic query responses related to case records
• Documents Chat leveraging Appian Gen AI or AI Co-pilot
  
  • Automatic responses for invoice/document related queries
• Automated payment setup
  
  • Clearly defined business rules
• Streamlined workflows
  
  • STP capabilities for authentic and seamless fund transfers
• AI-generated payment summaries
  
  • Offers the rationale behind each transfer to fund managers
• Accurate business rule definitions
  
  • Enhanced compliance and precision in fund transfers
• Real-time liquidity checks
  
  • Enhances operational efficiency
• Rag-enabled query response
  
  • Relevant, accurate response to queries from all teams

Benefits & Business Impact

Below 5 points will be the key solution benefits.

• 30% Time Savings - Faster and accurate payments for pre-authorized transactions
• 50% Reduction in Manual Errors - GenAI's document-reading capabilities deliver over 90% accuracy in data extraction
• 70% Improvement in Compliance - Business rules tailored to meet regulatory requirements
• 30% Boost in Process Efficiency - Automation and standardization streamline workflows
• 50% Improved Payment Visibility and Tracking - Enhanced transparency across payment operations