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How does our document AI platform streamline loan processing?
Loan processing, inherently document-intensive, can be significantly optimised with Affinda's Artificial Intelligence (AI) Optical Character Recognition (OCR) technology. Manual processing of loan documents such as application forms, credit reports, and income verification papers is time-consuming and prone to human error. Our OCR document parser and AI data extractor automates the extraction of critical information from these documents, speeding up the data collection process and increasing accuracy. This automation not only reduces processing times but also enhances the overall efficiency of loan approval workflows. It allows lenders to swiftly assess applications and make informed lending decisions while ensuring compliance with regulatory requirements.
For example, a bank could use an AI-powered OCR data extractor to process mortgage applications. Typically, these applications require multiple documents, including bank statements, tax returns and employment verification forms just to name a few. By employing AI OCR, the bank can automatically scan and extract relevant information from these documents, such as income levels, debt-to-income ratios, and credit scores. This streamlined process reduces the workload on loan officers, minimises manual errors, and leads to faster approval times. As a result, applicants benefit from a quicker response, and the bank enjoys greater efficiency and accuracy in its loan processing operations.
Step 1
Upload your documents to Affinda directly to our app, or by integrating with email or document management platforms
Step 2
Our AI-powered OCR data extractor will automatically scan, extract, label and categorise the data on the documents in seconds.
Step 3
Export the data in a structured and usable format. Integrate our AI-powered OCR data extractor with any downstream system or platform to use your data where you need it most.
Step 4
Need an AI data parser customised to your specific business needs? Our expert team can build a model tailored to your business workflows that integrates seamlessly with existing processes.
Michael Zhao
AI Product Manager | SEEK
De-clutter your business processes with a solution that seamlessly consolidates a diverse range of data, reducing complexity in business workflows and promoting effortless, streamlined operations.
Leave the repetitive, menial tasks to the AI, and do what you do best - talk to real people. Resume parser, job description parser, and candidate search and match can free up hours in your work week.
Our solution delivers speed and accuracy, handling data processes in seconds and freeing your team from tiresome data input. This not only saves time, allowing focus on vital tasks, but also significantly cuts business costs.
Our solution streamlines data parsing, analysis and management, quickly transforming unstructured data into actionable insights. This boosts productivity and accelerates decision-making, driving business growth.
Innovative features that set us apart from the rest.
Superior accuracy
Over 20+ fields extracted
Supports multiple file formats: PDF, JPG, PNG
Highly flexible and customisable
Supports over 56 languages
Upload and extract in bulk
Self-learning models improve over time
Seamless upstream and downstream integration
Case Studies
Learn how other businesses are using our parsing solutions.
Document AI Platform: StateCover Mutual uses AI technology to organise their yearly 300,000+ case management documents
