Payment Reconciliation

JPMorgan Chase uses large language models and a robot to automate lockbox mail and document processing in payments.

Business impact

• Accuracy — JPMorgan Chase reports more than 99.9% accuracy for largely automated lockbox tasks.
• Document and envelope type coverage — The robot can manage some 4,000 different envelope and document types.

Data requirements

• Mail (text) — The system processes mail at the lockbox site.
• Documents (text) — The system processes document types tied to lockbox work.
• Checks (text) — The deployment is used for check processing.

AI methods and techniques

• Large language models — They automate lockbox processing and support the payments workflow.
• Document processing — The system handles mail and document-processing steps at the lockbox site.

Industries

Real-world evidence

1 documented case study on record.

Companies using this: JPMorgan Chase.