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What is a Loan Application Form OCR Data Extractor?
A Loan Application Form OCR Data Extractor leverages Optical Character Recognition (OCR) and Artificial Intelligence (AI) to automate the extraction of crucial information from loan application forms. This tool captures and digitises details like applicant information, loan amounts, interest rates, and repayment terms through industry-leading OCR parsing. By automating data extraction from loan applications, financial institutions can streamline the loan processing workflow, reduce manual entry errors, and enhance the accuracy and speed of loan approvals.
A Loan Application Form OCR data extractor significantly boosts the efficiency of financial institutions by automating the capture of applicant information, loan amounts, interest rates, and repayment terms from application forms. This reduces manual entry errors, streamlines the loan processing workflow, and enhances the accuracy and speed of loan approvals.
Step 1
Upload your documents to Affinda directly to our app, or by integrating with email or document management platforms
Step 2
Step 3
Step 4
Need an AI data extractor customised to your specific business needs? Our expert team can build a model tailored to your business workflows that integrates seamlessly with existing processes.
Loan Application Form Details
- Application Number
- Applicant Name
- Loan Amount
- Interest Rate
- Repayment Terms
- Application Date
Don’t see the fields you need above?
Innovative features that set us apart from the rest.
Superior accuracy
Over 20+ fields extracted
Supports multiple file formats: PDF, JPG, PNG
Highly flexible and customisable
Supports over 56 languages
Upload and extract in bulk
Self-learning models improve over time
Seamless upstream and downstream integration
Bank loan officers utilise our Loan Application Form OCR to rapidly process applications, reducing processing times and improving customer service in the lending process.
Fintech companies benefit from our OCR technology to automate the intake of loan application data, facilitating faster and more accurate credit assessments.
Credit bureaus utilise our Loan Application Form OCR to efficiently process and update consumer credit files, ensuring accurate and timely credit reporting.
