FX Trade Settlement Automation

Overview

A premier banking and financial institution in Asia, operating across 8+ countries, embarked on a digital transformation initiative to streamline and automate its Foreign Exchange (FX) Trade Settlement process. The institution aimed to reduce manual errors, improve data accuracy, and integrate seamlessly with its internal trade and settlement systems.

TechTiera was chosen to deliver this transformative solution using Kofax TotalAgility (KTA), enabling high-performance intelligent document capture, classification, field extraction, and seamless system integration.

Business Challenges

• Manual ingestion and verification of high volumes of FX settlement documents.
• Time-consuming and error-prone data entry across multiple currencies and beneficiary banks.
• Inefficient routing of scanned/email-based trade documents for processing.
• Lack of system integration with existing trade and settlement platforms.
• Limited visibility into processing accuracy and operational insights.

The Solution: Kofax TotalAgility-Based FX Trade Capture Platform

TechTiera implemented a fully automated FX Trade Settlement Capture and Integration Solution using Kofax TotalAgility (KTA), covering:

Document Ingestion and Classification

• Automated capture of documents via scanned images and inbound emails (PDF/TIFF).
• Real-time classification using Kofax Transformation Server and VRS.

Intelligent Data Extraction:

• Extracted key fields including trade data, bank info, and beneficiary details.
• Validation rules applied with backend database checks.

System Integration:

• Seamless integration with trade & settlement systems for validation and export.

Analytics and Performance Tuning:

• Accuracy tuning with test runs over 1,000 documents.
• Dashboards for tracking system performance and ROI.

Results & Business Impact

• 70% reduction in manual data entry and reconciliation.
• >95% accuracy in field-level data extraction.
• Real-time data flow enabling faster FX transaction processing.
• Enhanced transparency and compliance with audit trails.
• Operational scalability without increased headcount.

Technologies Used

• Platform: Tungsten (Kofax) TotalAgility
• Modules: Kofax Transformation Server, VRS, Active Directory Integration
• Infrastructure: On-premises deployment with SQL Server and IIS Web Services
• Security: AD-based user provisioning, data validation, and secure email ingestion

Why It Worked

• Proven Kofax platform tailored for financial institutions
• Deep domain expertise from TechTiera in automation and document workflows
• Accelerated delivery with agile implementation and testing
• Custom integration to proprietary trade systems
• Transparent metrics and optimization insights

Digitize and automate your Intelligent Capture and document workflows using Tungsten TotalAgility with TechTiera

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