Extract and structure data from documents using computer vision and human validation
Capture information from financial documents with unparalleled accuracy using AI-based document extraction software from Ocrolus. Ocrolus transforms documents of any format into contextualized, structured data to inform lending decisions.
Ocrolus processes every document with over 99% accuracy thanks to our Human-in-the-Loop approach to document capture. Our system intelligently selects the extraction or OCR tool, which results in the highest raw accuracy, then layers in proprietary pattern recognition and machine learning models. Data fields that cannot be automatically confirmed are then routed through a unique machine and human quality control workflow.
Step one: Best-in-class document and data extraction with Optical Character Recognition and other advanced parsers
Optical Character Recognition (OCR) has been around for many years and has reached a ceiling in terms of accuracy. Rather than trying to reinvent the wheel, Ocrolus leverages a library of document extraction and OCR tools, automatically selecting the most effective data extraction technology based on the submitted document type.
Step two: Go beyond document data extraction with machine contextualization and localization
Going beyond document data extraction, Ocrolus technology uses proprietary machine learning and pattern recognition to localize each key element of a financial document and label it with the proper context. Our document and data extraction automation software is fine-tuned for unstructured and semi-structured documents, identifying the data needed to make lending decisions without the need to rely on templates or complex pre-configuration.
Step three: Comprehensive quality control
Whereas many companies offer Business Process Outsourcing (BPO) data cleanup, Ocrolus is a pioneer when it comes to marrying machines and humans for data extraction and document verification. Our IP is carefully designed to trigger human validation steps strictly on an as-needed basis, with built-in algorithmic checks to eliminate the possibility of human error.
Step four: Accurate, structured data output
Ocrolus returns accurate and clean data in a highly structured format, regardless of the original document source or quality during document extraction. Whether a statement came from a top-5 bank or small credit union, the output schema will always be identical, allowing for seamless and reliable integration of trusted data.
Get started with Ocrolus
Schedule a demo to see how we deliver with automated data and document classification.
In the paper-heavy legal industry, manual data entry is a time-consuming task that can take days, weeks, or even months, depending on the document volume. However, with Ocrolus, all those records are swiftly converted to electronic form. Regarding cost, Ocrolus represents approximately 20% of our previous data entry expenses, resulting in significant cost and time savings.”
See how today’s leading companies use Ocrolus
How Kapitus streamlines lending with Ocrolus’ AI-powered data and analytics
HomeTrust Bank transforms mortgage loan processing and underwriting with Ocrolus’ AI-driven document automation
