What is the problem statement?

In the midst of COVID-19, relief loan packages for Small Businesses have been initiated by governments. There is an unprecedented surge in loan applications from small businesses who want to avail these loans. The loan applications must be reviewed and approved in a few days by banks. There also needs to be a mechanism to authenticate the small business enterprises applying for the loan, by extracting critical employee payroll data needed for approving the loan application.

XtractEdge Platform through its Computer Vision capability can solve problem.

XtractEdge Platform is a solution platform that harnesses information and insights locked away in unstructured documents. It automates the end-to-end document processing lifecycle from ingestion to consumption, using AI capabilities. XtractEdge Platform enables intelligent processing of documents such as loan application forms. invoices, waybills, account receivables, and policy documents, among others.

DocAI has its own proprietary (patent pending) Neural Parallel Pathway (NPP) approach consisting of NLP, Computer Vision, ML & DL capabilities.

XtractEdge Platform helps banks and financial institutions serve a large number of impacted customers by getting them access to loans.
Accelerates the loan processing by banks, while adhering to stringent Risk and Audit requirements.
Ensures data accuracy and provides scale that allows for automated disposition of loans.
Provides traceability for risk and audit, now and in the future.

Yes. For one of the oldest and largest US-based financial institutions, XtractEdge Platform and its computer vision capability was used to accelerate their PPP SBA lending & loan application processing with high accuracy.

XtractEdge Platform can extract standard forms, forms with tables (bordered, borderless and nested), signatures, checkboxes etc. Full text documents with headers, footers and various sections and paragraph orientations can be processed as well.

Both Digital PDFs & Scanned pdfs are supported.

Standard aftersales service support terms will be provided for this offer. Please get in touch with us for more details.

EdgeVerve offers end to end implementation services which can be leveraged as per business need, on paid basis. In addition, client’s team can get trained on XtractEdge Platform and build their own custom solutions.

Customization support is offered in addition to the product licensing. Please get in touch with us for more details.