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AI-Powered Automatic Bank Information Extraction from Cheque Specimens

New Feature

Overview

This release introduces an AI-powered automation feature that streamlines the setup of Recurring Bank Direct Debit payments. When a resident uploads a cheque specimen, the system automatically extracts and populates the required banking information, reducing manual data entry and improving efficiency.

How It Works

When a resident sets up a Recurring Bank Direct Debit, they can upload a cheque specimen in a supported format. The AI automatically reads the cheque and pre-fills the banking fields with the extracted information.

To ensure accuracy, a clear warning message is displayed, reminding the resident to carefully review all pre-filled information before submitting the request.

For additional verification, managers can open and view the uploaded cheque directly within the application and quickly compare the cheque details against the automatically populated banking information.

Where to Find It

My Balance → Manage Payment Methods → Recurring Bank Direct Debit

To Access It

  1. Log in as a resident.
  2. Navigate to My Balance.
  3. Select Manage Payment Methods.
  4. Choose Recurring Bank Direct Debit.
  5. Complete the form and upload a cheque specimen.
  6. Review the automatically populated banking information and submit the request.

Previous Process

Managers were previously required to manually review the submitted cheque specimen and enter the resident's banking information themselves, making the process more time-consuming and increasing the possibility of data entry errors.

What's New

  • Banking information is automatically extracted and populated from an uploaded cheque specimen using AI.
  • Residents can review and confirm the pre-filled information before submission.
  • Managers can view the uploaded cheque and verify the extracted information without manually entering the banking details.
  • The overall setup process for Recurring Bank Direct Debit requests is faster and more efficient.

Benefits

✅ Reduced Manual Effort
Automatically populates banking information, minimizing manual data entry for both residents and managers.

✅ Improved Accuracy
AI-assisted extraction helps reduce transcription errors and ensures more consistent banking information capture.

✅ Faster Processing and Verification
Managers can focus on validating information rather than entering it, enabling quicker approval and setup of recurring payments.

Resident:

Manager: