Automated Loan Processing System

Challenges

High volume of loan applications processed manually

Verification of paychecks meeting eligibility criteria

Tracking status and maintaining follow up  of each applicant was a tedious task

Action taken

Auto retrieval of submitted loan documents Step 1
Capture key values using AI-based OCR Step 2
Calculations, eligibility segmentation, and emailing of results are automated. Step 3
Integrate process data with loan approval system. Step 4

Actions Taken

  • Step 1

    Auto retrieval of submitted loan documents

  • Step 2

    Capture key values using AI-based OCR

  • Step 3

    Calculations, eligibility segmentation, and emailing of results are automated.

  • Step 4

    Integrate process data with loan approval system.

The Problem

Delays in processing loan applications

The Solution

Automated loan approval process

The Result

200% Reduction in loan approval process time

100% Reducing time spent on repetitive tasks