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What is a Loan Contract OCR Data Extractor?
A Loan Contract OCR Data Extractor uses Optical Character Recognition (OCR) and Artificial Intelligence (AI) to automate the extraction of essential data from loan contracts. This technology captures and digitises key contract details such as lender and borrower information, loan terms, and repayment schedules through a powerful OCR parser. Automating the extraction process helps financial institutions reduce the time spent on manual data entry, ensures precise contract management, and facilitates easier compliance with regulatory requirements.
Employing a Loan Contract OCR data extractor offers financial institutions improved precision and efficiency in contract management. By automating the extraction of lender and borrower information, loan terms, and repayment schedules, this tool reduces the time spent on manual data entry, ensures accurate records, and facilitates easier compliance with regulatory requirements.
Step 1
Upload your documents to Affinda directly to our app, or by integrating with email or document management platforms
Step 2
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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 Contract Details
- Contract Number
- Lender Information
- Borrower Information
- Loan Terms
- Repayment Schedule
- Issue Date
- Expiration 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
Legal departments in financial institutions use our Loan Contract OCR to efficiently review and compare contract terms, ensuring consistency and compliance across different loan products.
Mortgage brokers leverage our OCR tool to quickly extract key information from loan contracts, facilitating easier comparison of offers from different lenders for their clients.
Financial regulators employ our Loan Contract OCR to efficiently audit lending practices across multiple institutions, ensuring compliance with consumer protection laws and identifying potential predatory lending patterns.
