Risk Assessment Solution
Risk Assessment Solution
OVERVIEW
- The Bermuda Monetary Authority (BMA) is responsible for assessing the risk of financial institutions operating in Bermuda. They receive a large volume of documents from these institutions to evaluate their risk.
- Manual Document Review: The BMA faced the challenge of reviewing thousands of pages of annual business reports manually, making it impractical and time-consuming.
- Time Constraints: Due to continuous business engagement and time constraints, manually reviewing all the documents became an inefficient and challenging task.
- Extracting Key Statistics: The BMA needed a system that could extract key statistics from the reports to facilitate risk-based financial regulation and supervision of Bermuda's financial institutions.
SOLUTION PROVIDED BY PEOPLE TECH GROUP
- Summary Document Generation: A summary document was created, maintaining headings, subheadings, important images, and table data, reducing the manual effort required for review.
- Text Analysis Techniques: Extractive and abstractive techniques using Natural Language Processing and Deep Learning were implemented to analyze and extract information from the text.
- Object Detection Framework: State-of-the-art image processing methodologies were utilized to automatically extract images and tables from the reports.
BENEFITS
- Significant Manual Effort Reduction: The automated system reduced approximately 85-90% of the manual effort required for document review.
- Increased Customer Satisfaction: The implementation of the automated risk assessment system led to a ~12% increase in customer survey satisfaction regarding risk assessment.
