National Bank of Belgium automates financial statement data extraction and validation

The National Bank of Belgium (NBB) is Belgium’s central bank. Among many other things, NBB collects and subsequently publishes the annual financial accounts (balance sheets) of almost all legal entities in Belgium. The information collected is available for download and is used for the compilation of statistics and financial analyses.

Ongoing volume increases, new legal and process requirements required the NBB to search for a state-of-the-art process automation solution.

A joint solution developed in collaboration with ATOS Belgium, Arco Information, and TCG Process now captures and extracts data from the documents received and performs checks to ensure the resulting financial account information is consistent and correct.

Solution highlights:

• Processing of close to 7 million document pages per year (currently)
• High levels of automated processing and simplification of manual tasks (less user intervention)
• Improved consistency through dossier validation (checking and monitoring for required pages, page order, languages)
• Fast processing and delivery of verified (correct) information (reduced turnaround times)
• Interoperability - clever, service-based inter-operation of DocProStar and DOMA (a leading document management system from Arco Information)

Read the full case study to learn more.