AOTM’s OCR engine scans bank statements in real-time and aids in quick customer onboarding. Filter transaction data to obtain proof of income and understanding of consumer spending patterns. By including bank statement API in your workflow, you may automate the underwriting process.
To verify income, the operations team and underwriters spend half of their time manually pulling and analyzing data from bank statements. In addition to being slow, this method is also prone to human errors. Traditional rule-based software cannot properly convert bank statements to data due to the thousands of distinct formats.
Furthermore, it is necessary to categorize the extracted data in order to derive important attributes for underwriting, such as monthly income, average balance, and prior loans. Giving customers a better experience becomes extremely difficult because of this slow process.
AOTM assists with bank statements processing by providing intelligent document processing solution.
AOTM IDP solution helps automatically classify the documents making it easy for the user to sort through various documents at a time.
AOTM IDP solution assists in extracting and data processing from various formats, be it an image, PDF, or business forms.
Enhance your business flow by reducing document processing time by 85%.
Reduce data processing costs by 50% and bid goodbye to high labour costs.
Reduce the risk of human errors with AOTM Solution.
