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Document Automation

Looking for a way to automate your underwriting process when using PDFs or other file types? OCR, optical character recognition, technology has automated the process of manually entering data from a PDF to your software of choice amazingly faster and with very high accuracy.


Many lenders in the alternative finance space and traditional banks have been using this technology or outsource companies that do so for years and the software is increasingly better.

A use case would be for a lender that accepts PDF bank statements to install software, such as the companies mentioned below, and when each bank statement is submitted, the data is extracted from the PDF and into the companies software. That software can be customized to receive the data properly. A common software used would be Salesforce which allows you to display the data as needed for your underwriting team.

Here are just a few companies that are being used in the alternative finance space by funders, lenders and even high volume producing brokers.

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Intelligent automation can help you standardize data extraction across all formats. With Ocrolus you can transform unstructured inputs into clean, structured outputs automatically. 

Retrieve data from any image and PDFs with 99+% accuracy.
It's a hybrid of a machine and a human. Ocrolus combines AI automation with human quality control specialists to become smarter over time.

Bank statements of any format or quality can be converted into clean, structured data. Use bank transactions to evaluate cash-flow trends and credit risk.

  • Detect fraudulent documents. 
  • Every financial institution is supported. 
  • Standardize your analysis of bank statements and digital bank data. 
  • Access hundreds of cash-flow analytics used by industry leaders.

Also with Ocrolus you can Capture data from e-statements, scanned paper documents, or cell phone images.
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MoneyThumb offers statement conversion for financial lenders.
Their products move transaction data from where you have it to where you need it, helping to maximize financial decision making.

You can convert credit card, bank, and other financial statements into the format you need to determine an applicant's creditworthiness. This will empower underwriters with a complete review of insights and calculations, increasing productivity.

PDF Insights utilizes IDR (intelligent document recognition) to identify bank/statement formats.
Unlike competitors, MoneyThumbs solution doesn't need to be told upfront which bank or format is being used, yet correctly processes over 99% U.S. statements. Output is delivered in a standardized format, even for statements from different banks.

MoneyThumb's ThumbprintTM verifies the authenticity of PDF bank statements using patent-pending AI and their Thumbprint database of millions of bank statements. Thumbprint generates a score (similar to a credit score) indicating the likelihood that a document has been altered.

Optical character recognition algorithms that are proprietary review questionable fields, look for patterns to self-correct, and flag questionable transactions. Utilize the only OCR software designed specifically for bank statements.

PDF Insights can also be accessed as a web service via a REST API, which converts PDF documents on demand and returns the results as JSON data, in addition to the interactive web-browser interface. PDF Insight can serve as a robust batch processing engine for your custom workflows.

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