Driving Innovation with AI: Empowering Banks and Credit Unions with AI-Powered Document Classification to Streamline Operations and Ensure Compliance

While generative AI headlines often dominate the conversation, financial institutions are increasingly investing in more practical applications: integrated smart features that support day-to-day operations. Artificial intelligence built into existing systems can help reduce manual workloads and support compliance in a data-rich environment that continues to grow more complex.

At Alogent, this is the foundation of our AI strategy: solution features designed with intention, tested against real-world conditions, and deployed where they bring the most value. In a recent conversation with Monica Moore, Alogent’s Chief Technology Officer, we discussed how this philosophy has shaped our innovation efforts, especially in the development of FASTdocs’ AI-powered document classification capabilities. 

Innovation Grounded in Purpose

“Innovation doesn’t have to mean inventing something from scratch,” Moore said. “It means creating a solution that either didn’t exist before or solving an existing problem in a more effective or valuable way.’ 

Manual indexing is time-consuming and highly error-prone, especially for image-based documents like scanned receipts, handwritten forms, or faxed contracts. After listening to customer feedback and identifying a clear gap in the market, Alogent developed an AI-enabled document classification tool within FASTdocs to automate this process. The goal was to solve a familiar challenge, but with greater speed, precision, and scalability. 

From ideation to production, the feature was built in just nine months. According to Moore, that speed was made possible by a focused approach: “AI allows us to move faster without compromising on the rigor of our processes. We relied heavily on user groups, focus sessions, and proof-of-concept testing to make sure what we built mapped directly to customer workflows.”

Practical AI, Built for Flexibility

FASTdocs’ classification feature is designed with adaptability in mind. It leverages large language models (LLMs) to automatically identify and categorize both text- and image-based documents to extract key metadata like account numbers, dates, and amounts along the way. 

“AI is a new power tool,” Moore added. “Especially in financial services, where compliance and security are non-negotiable. Our job is to ensure innovation and responsibility coexist.”

By automating document sorting and indexing, banks and credit unions can:

• Reduce manual errors and improve data accuracy
• Standardize document structures across systems
• Simplify regulatory oversight and strengthen governance
• Free staff for higher-value tasks like account holder engagement and strategic planning

Where Innovation Meets Execution

With FASTdocs as a cornerstone of Alogent’s ECM Suite, financial institutions can see how intelligent automation transforms operations without adding complexity. From enterprise content and loan management to deposit automation and check fraud mitigation, Alogent delivers end-to-end solutions that power every part of the financial ecosystem, helping banks and credit unions scale efficiently and lead with confidence.

contact us: learn more about Fastdocs & AI document classification

Playbook: Automatically Classify Documents with Index Values and AI

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