Data Extraction in Underwriting

In a groundbreaking shift in loan processing, Feuji has introduced a transformative solution to the often cumbersome and time-consuming task of loan document analysis. Traditionally, a human processor would spend about 90 minutes reviewing each lending file, a process bogged down by the diverse quality and formats of the uploaded documents. Recognizing the inefficiency, Feuji leveraged its robust ecosystem services to engineer a sophisticated data processing pipeline that activates the moment a document is uploaded by a lender.

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Streamlined Processing Through Advanced Technology

This innovative pipeline undertakes a thorough review of each document, employing advanced labeling and information extraction techniques. Once the documents are ingested, the system meticulously extracts and cleans vital data, converting it into a highly structured data format ready for further processing. The real-time transformation from chaotic to coherent data not only enhances accuracy but also significantly expedites the underwriting process.

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Ensuring Quality with Confidence Scoring

Integral to the pipeline is the inclusion of confidence level and quality scoring mechanisms, which provide a quantifiable measure of data integrity. This scoring system is crucial, as it determines the subsequent steps in the processing chain. Documents that achieve a high confidence score are fast-tracked directly through to underwriting. They bypass manual review entirely, equipped with a comprehensive summary and essential details prepared for immediate consideration. This automation drastically reduces the document review time from 90 minutes to a mere ten minutes, marking an efficiency increase of 900%.

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Human in the Loop for Enhanced Accuracy

For documents that do not meet the predefined confidence threshold, Feuji incorporates a 'human in the loop' system. This step ensures that a human processor steps in to manually review and verify the low-scoring packets, maintaining the accuracy and reliability of the process. By combining human oversight with automated technology, Feuji ensures that even the most challenging documents are handled with precision, thereby safeguarding the integrity of the loan underwriting process.

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Contact Feuji today to find out how we can help with your next breakthrough.

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