IRVINE, Calif., Dec. 9, 2019 – Ephesoft, Inc., an industry leader in enterprise content capture and data discovery solutions, and Alliance Bank Malaysia Berhad, a bank well known for serving Malaysian small and medium enterprises (SMEs), today announced that the bank has implemented Ephesoft Transact for intelligent capture automation in their middle-office operations.
“Ephesoft is able to meet our requirements and is versatile to scale with us as we continue to transform our business processes to deliver faster, simpler and more responsive customer experience to our clients,” said Mr. Joel Kornreich, group chief executive officer of Alliance Bank.
Ephesoft’s document classification module of patented machine learning algorithms helps ease the bank sales staff’s workload. The software is able to bulk-scan the supporting documents, and re-categorize them within the Alliance Origination System, the bank’s proprietary credit automation.
“With this improvement, we have the capacity to quickly identify and manage any potentially fraudulent activities based on customers’ transactional behaviour,” added Mr. Kornreich. “We also use the information to perform financial casting to understand our customers better, and due diligence in assessing customers.”
Financial Services organizations typically have high-volume, high-value documents, which can be manually intensive if they are not automated. “We are proud to be an agile and scalable enterprise data acquisition partner for our customers as they work to solve document and data challenges in their digital transformation journeys,” said Mr. Ike Kavas, founder and CEO at Ephesoft. “Ephesoft’s machine learning-powered software enables Alliance Bank employees to accelerate tedious processes and use their time to bring value to the organization in strategic ways that provide a competitive advantage.”