One of the FinTech Startups wanted to fully automate the loan application process as majority of the processes – processing, underwriting and closing – were paper based, time consuming and labor intensive

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Our Solution

Automated the creation of cases for loans applied through various channels and routed loans to back office centers

Designed an approach (SmartScan) to successfully ingest hard copies of Mortgage documents and route them to the respective loan

Implemented Tesseract for OCR and Siamese twins’ model to verify the signatures

Process automation followed after the KYC Decision has been processed

  • 80%

    reduction in paper usage across originations

  • 10%

    reduction in cost of loan origination

  • 60%

    reduced the time taken to originate and process the loan