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More than ever, banks and financial service providers are required to provide private customers with feedback on financing and mortgage applications around the clock. This requires efficient business processes in the background, which can only be realized with state-of-the-art automation solutions. Intelligent Document Processing (IDP) reads out the data required for indicative offers and first estimation in real time.

Automation comes into play whenever a bank or financial services provider wants to increase efficiency around document processes while improving the customer experience.

At a glance: The benefits of Intelligent Document Processing (IDP) for banks and financial service providers

IDP enables banks and financial service providers to provide 24/7 feedback to private customers on the website or web application in the form of an initial estimation.
IDP enables banks and financial service providers to show private individuals whether the financing is viable at all.
IDP enables banks and financial service providers to accelerate their digital transformation and offer private customers up-to-date solutions.
IDP brings banks and financial service providers outstanding availability of structured data for their financing and mortgage processes.

The core objective: to immediately provide an indicative quote to private individuals

As digital transformation progresses, expectations for solutions and services in the digital domain naturally increase. This also applies to the financing and mortgage process. Private individuals want to submit an application for a loan or mortgage via website or web application of a bank or financial services provider and get an immediate response.

Accordingly, banks and financial service providers must be able to provide private individuals with initial quotes (not yet legally valid) with indicative prices for a first estimation, always as quickly as possible. To be able to calculate these requests in real time, banks and financial service providers need robust and high-performance document extraction in order to process as many documents as possible in a fully automated manner.

By combining various powerful AI technologies, Intelligent Document Processing (IDP) brings exactly these key capabilities to banks and financial service providers.

Initial assessment without having to talk to a banker first

Only with IDP’s automation and the readout of all relevant data, banks and financial service providers can calculate the applications. The IDP solution comes with bank-specific, pre-trained and ready-to-use document types and is perfectly suited as a solid basis for the automatic readout of the often unstructured documents of financing and mortgage applications.

Banks and financial service providers use IDP to be able to present private individuals with a fast quotation. Accordingly, a private individual can be given an initial assessment of whether the property is financially viable at all. And all this online and in real time and without having to talk to a banker first.