Estate and Trust Automation System
Industry
Banking and Finance
Headquarters
United States
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Background
Lackner Group provides the 6-in-1 Estate and Trust Administration Software, a robust platform tailored to meet the complex needs of legal and financial institutions. The platform simplifies estate inventories, fiduciary accounting, tax preparation and other critical processes. Designed to handle vast amounts of client data and documentation, the system helps streamline workflows for estate and fiduciary management. With an expanding customer base, Lackner Group aimed to modernize its platform to improve efficiency, scalability and accuracy in handling estate and trust administration tasks.
Challenges faced
Manual Document Data Extraction
The system relied on manual processes to extract information from diverse sources, including handwritten forms, scanned PDFs, and government records. This lack of automation resulted in inefficiencies, delays, and frequent errors.
Inconsistent Data Pre-Filling
The manual pre-filling of forms within the 6-in-1 system was prone to errors, especially when handling multiple document types, leading to inconsistent and unreliable outputs.
High Reliance on Manual Review
A significant portion of time and resources was spent on manually reviewing and correcting extracted data, slowing down workflows and increasing the risk of oversight.
Limited Scalability
As the customer base grew, manual data processing methods became unsustainable, restricting the system’s ability to handle multiple cases simultaneously without overburdening staff.
Defined Solution
OCR and AI-Powered Data Extraction
Advanced Optical Character Recognition (OCR) technology was integrated into the platform to scan and extract data from various document types, including handwritten and printed forms. AI-powered models enhanced the accuracy of data extraction, significantly reducing manual intervention.
Automated Form Filling
Extracted data was automatically mapped to the appropriate fields in the 6-in-1 system’s estate and tax forms (e.g., U.S. 706, U.S. 1041). This automation improved processing speed and minimized errors in data entry.
Review and Edit Control
A manual review and edit feature was added to the system, allowing users to validate and correct pre-filled forms before submission. This ensured data accuracy while maintaining user flexibility for final adjustments.
Scalability Enhancement
Automation enabled the system to handle larger volumes of client cases without requiring additional staff, improving operational efficiency and scalability. The platform became more resilient to growing demands, allowing users to manage complex fiduciary tasks seamlessly.
The Outcome
The Impacts
Faster Document Processing
Automation significantly reduced document handling and form-filling times, enabling the platform to process cases more efficiently.
Improved Data Accuracy
OCR and AI integration minimized manual errors, ensuring reliable estate and tax form completion.
Increased Scalability
The system efficiently handled a growing client base without requiring additional resources, driving productivity and operational growth.
Enhanced Customer Satisfaction
Clients benefited from faster services with fewer delays, creating a streamlined and reliable estate administration experience
