CAF Digitisation System

The Central Bank of India grappled with inefficiencies in handling thousands of Customer Application Forms (CAFs) that existed in physical format. This reliance on paper-based processes resulted in delayed form processing, elevated risks of human error, difficult retrieval, and increased storage overheads, all of which negatively impacted the speed and efficiency of customer onboarding and regulatory audits.

To remedy this, Cygnus implemented a comprehensive CAF digitization system, converting paper forms into secure digital records. This system incorporated advanced scanning, optical character recognition (OCR), and workflow automation techniques to ensure accurate data capture. Digitized CAFs were systematically integrated with the core banking system for smooth processing, and a centralized digital repository was introduced to facilitate fast retrieval and audit readiness.

The transformation reduced CAF processing times by 50–70%, drastically minimizing incidents of manual data entry errors. These improvements led to significantly faster customer onboarding, higher customer satisfaction, and streamlined storage management, making retrieval and auditing highly efficient.