From Manual to Automated: A State-of-the-Art Review to Examine the Impact of Intelligent Document Processing in Banking Automation

Abstract

In the rapidly evolving digital era, industries increasingly harness technology to optimize operations. The banking sector, in particular, stands out as a prominent example, having integrated Artificial Intelligence (AI) to streamline processes and improve efficiency. Our study focuses on one key aspect: automating loan management, specifically through Intelligent Document Processing (IDP). While automation technologies have been widely studied, a notable gap exists in sector-specific knowledge, especially within the banking industry. This paper conducts a Systematic Literature Review (SLR), examining 48 primary studies, to analyze the state-of-the-art of this problem. This comprehensive analysis reveals how IDP reshapes banking processes, providing sector-specific insights. Our findings reveal the profound impact of automation in banking, along with 8 notable challenges that remain to be addressed. This contributes to future research and enriches our understanding of IDP's current and potential applications in the sector.