Case Study: Caruana Financeira achieves 15-minute card issuance and 80% cost savings with Tungsten Automation

Caruana Financeira Reaches More Customers with a New Instantly Embossed Payment Card

Caruana Financeira, a São Paulo–based financial services firm, launched a hybrid credit and transport payment card and faced a major onboarding challenge: traditional paper-based credit applications were slow (about three weeks), costly, error-prone and exposed customers to fraud risk. To capture the retail market opportunity, the company needed a fast, low-cost, secure way to process large volumes of applications.

Working with partner TR Process, Caruana automated document capture and processing using Kofax TotalAgility to extract and validate ID, address and income data, run fraud and credit checks, and manage exceptions. As a result, cards can be printed and issued in 10–15 minutes, staffing for end-to-end processing dropped from the equivalent of seven people to three, estimated costs fell by ~80%, and the rollout is expanding to 27 more branches with a projected 20,000 applications per month.

Caruana Financeira

Daniel Médici Lourenson

Caruana Financeira