PPS Number And Name Extraction
The Central Bank of Ireland introduced a new Central Credit Register, which places a regulatory requirement on lending institutions to share information about loans and other credit histories about consumers on a monthly basis As Such, Banks are required to attach the PPS number of the customer to the relevant loan as an identifier and register this with the Central Bank.
The process of collecting and extracting the PPS number involved very time-consuming and manual processes, obtaining the data from multiple forms supplied by consumers and then the manual entry of this data onto the system, including a stage for verification before submission.
Unitek.ai worked with one of Ireland’s largest banks to provide a solution to automate this and introduced a customised NLP model which automated the extraction of the PPS number and name.
The process provided a solution and output which automated the integration into the Banks systems and workflow. The project was successful in extracting PPS numbers from 1.200 documents per day with 100% accuracy, saving the Bank euro 350,000 per year and the project was activated within 1 week.