Technopark-incubated Ospyn Technologies has clinched a major work order from Federal Bank, per which the OspynDocs software will be deployed to fast-track the bank’s process automation. 

Ospyn has been onboarded to automate and accelerate processes such as loan document vetting, loan origination, de-duplication check and inter-office communications at Federal Bank, a company spokesman said here.

AI, ML capabilities

The OspynDocs digital platform to accelerate the process of business automation and create a centralised document management system. It consists of standard modules like document management, business process management, and multi-channel content capture system and is equipped with Artificial Intelligence (AI) and Machine Learning (ML)-based capabilities. 

Prasadu Varghese, Managing Director and CEO, Ospyn Technologies, said it will be a key value addition for Federal Bank as the software offers instant automation in compliance with regulatory standards. The platform will improve process automation and operational efficiency along with enhanced customer experience, he added.

Rapid creation, configuration

Kishore Kumar, Director and CTO, Ospyn Technologies, said the low-code capability of the platform enables faster business automation through rapid creation and configuration of process-centric solutions. OspynDocs helps in building composable applications, which will be the future in digital transformation, he said. 

Launched in 2000, Ospyn Technologies offers digital transformation solutions to government, banking and financial institutions, healthcare, and educational institutions. It provides an enterprise software solution to transform paper-based and disconnected processes of an organisation into digital. The company has an expanding client base across India, the Middle East and Africa. 

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