Our client is one of the oldest and largest US-based financial institutions, offering a broad range of retail and commercial banking products and services.
Our client had to review and approve 25K+ loan applications in a week, amid COVID-19 and an unprecedented surge in Paycheck Protection Program (PPP) Small Business Administration (SBA) related loan applications. Extracting critical employee payroll data required for loan application approval was tedious and time-consuming.
With XtractEdge Platform and its computer vision capability, our client was able to accelerate loan processing for PPP SBA loans with high accuracy, extracting data at the speed of 15,000 digital forms per hour. Download the case study to learn how XtractEdge Platform accelerated the loan processing and helped our client achieve data accuracy of around 90%.