LUKB opts for state-of-the-art document management and a vision

The size of the bank also corresponds to the 4 million pages that must be digitized every year. This means that 16,000 pages of paper must be processed on an average working day. On a peak day, however, the volume can double.

The bank has been pushing ahead with its digitization efforts for some time. One of the initiatives: replacing its old system and introducing a new, digital document management system. The aim: to streamline processes, increase efficiency and pave the way for intelligent information management.

Previously, the bank had outsourced the mass processing of document-based payments as a business service and used large in-house scanners for the input. Maintenance and further development of the BPO solution for payment transactions (ZV) expired at the end of 2022; at the same time, the in-house scanning infrastructure had also reached the end of its life cycle after 20 years.

On the software side, LUKB opted for an integrated technology solution that combines intelligent document processing and archiving. With Cognaio®, LUKB is not only replacing its outdated input management and the ZV platform. The new solution is also designed as a strategic digitalization platform, as it is open to the integration of other components of intelligent information management.

DTI’s “Cognitive Digitalization Ecosystem for Document Lifecycle” (Cognaio®) is closely linked to the Avaloq core banking system and allows the integration of all peripheral systems such as output management systems, scanning and invoice workflows. This improves the quality of document processing and increases the degree of automation and user-friendliness through a consistent user experience with interface control and minimal media disruptions.

In addition to providing the overall solution, DTI also manages all processes from the moment the mail is received (scanning) through automated receipt and document processing to the archive solution, in which all customer dossiers with over
400 million documents and e-mails are managed in compliance with the law.

Inbound communication is digitized by using various technologies such as ICR (Intelligent Character Recognition), OCR (Optical Character Recognition) or NLP (Natural Language Processing), as well as – where helpful – LLM (Large Language Models) in the future. Information can thus be extracted from structured data such as documents or emails. But more importantly, the solution can also process unstructured data such as handwritten notes, including audio or video if required.

Thanks to self-learning AI and machine learning algorithms, the platform can automatically classify all documents or even complex processes, automatically recognize, train and process new forms and document types – and minimize manual intervention overall.

In the medium term, the migration of the existing archive, which is based on software from the same manufacturer, to Cognaio® will be examined in order to benefit fully and consistently from the openness and modularity of the digitization platform. The paper archive will be made more digitally available and at the same time enriched with Content Services & Archive (CSA). This covers the entire document lifecycle from live documents to their archiving in compliance with data protection regulations.

With Cognaio® acting as a data hub, all business process-relevant information is available faster and in higher quality. LUKB is now examining how further use cases can be utilized on this basis so that the intelligence and integration capability of the platform can be fully exploited.

Countless application scenarios are possible. It is conceivable, for example, that voice and text recognition could be expanded thanks to artificial intelligence to bring together and analyze customer feedback from any source and derive recommendations based on pattern recognition. This would enable the bank to respond more quickly to customer requests, for example.

The goal is not just a “paperless” bank. The goal is a bank that draws maximum efficiency and customer benefit from its available information.