Asset Management Corporation of Nigeria (AMCON) is a Federal Government Parastatal established on the 19th July 2010, by the Federal Government of Nigeria to be a key stabilizing and re-vitalizing corporation aimed at reviving the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy, which have been accumulated over the years.
To resolve these non-performing loans, AMCON was required to buy off these loans from the various banks and follow up on the payment of the non- performing loans from the customers directly. To make this possible, AMCON had to collect all the non-performing Customer Loan Files – hard copy – from 26 banks in Nigeria.
This involved the collection and processing of about 13,000 Customer loan files, which averaged a million pages in total. This development made it necessary for the corporation to seek for solution to help in the way the information in these documents can be retrieved, as it would be inefficient for any information worker to search through these number of documents manually in the event of verification. It was required for these documents to be scanned and stored in a central repository for easy accessibility
Thus the crucial question raised was —“How will the Loan Files of 13,000 different Customer with over one million pages be scanned to a central system for easy accessibility and easy retrieval, of the information on each document”.