How to accelerate financial lending operations with APIs and AI

Sample use case: The loan application

  • The loan applicant fills the web form on the bank’s site then uploads/email various documents.
  • The uploaded documents typically are stored in some kind of cloud storage solution, like Box or an email server, in the case of emailed documents.
  • The staff extracts, reviews (e.g. validate for local jurisdiction requirement and regulation), and saves the documents along with the customer record in a CRM system, like Salesforce.
  • The officer then validates the document, evaluates risk, and submits the application to a back-end system for underwriting and decision.

Composing the process using APIs

  1. Document management Process API to extract and attach the loan documents uploaded from cloud storage to the corresponding account record in the CRM or a Content Management System (CMS).
  2. Document validation process API to automatically transform the document from a PDF or image format to machine-readable data using GLYNT, an AI solution. Then the data can be processed, validated against the business rules, and submitted to the Loan Origination System.

Automate document processing with AI

Making the digital transformation journey

--

--

--

https://www.linkedin.com/in/dekoupled/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Tailwind vs Bootstrap vs Vanilla CSS

Docker and Beanstalk: Welcome to the Gaps

“Tic tac toe” game on Python

Passing a Method Reference to a Method on Another Instance

🕵🏻‍♂️ New Airdrop: Polyland

Duplicate or Move Lines Using ‘:t’ and ‘:m’ Commands

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
dekoupled

dekoupled

https://www.linkedin.com/in/dekoupled/

More from Medium

Why is machine learning important?

How did Artificial Intelligence come to be?

One of the most important issues is that artificial intelligence will play an increasingly important role in our economy, which means it’s time to start preparing for this shift now. Find out what Artificial Intelligence entails and how you can prepare for this shift in our workforce with this article!

Machine Learning: With Great Power, Comes Great Responsibility

Amazon Augmented AI in depth