MoneyThumb's PDF Insights is an enterprise-level financial data extraction utility that automatically converts PDF bank statements, credit card statements, brokerage statements and tax forms into the format you need for ingestion into downstream systems. It determines correct categories, and extracts the correct text and numerical information, making further data manipulation easy for underwriters and sales teams.
Our software serves as your first set of eyes by automatically processing bank statements. Then, through a side-by-side feature, it empowers an underwriter to manually review the actual bank statements, while also instantly pulling insights and calculations. This dramatically increases the speed and accuracy of the human underwriting process.
PDF Insights utilizes proprietary algorithms to identify bank or bank statement formats. Unlike competing solutions, this software doesn't need to be told upfront which bank or format is being used, yet correctly processes over 99% of U.S. bank statements. Output from each statement is delivered in a standardized format, even for statements from different banks.
PDF Insights automatically recognizes multiple monthly statements in a PDF and multiple accounts in each statement. It reads account owner information and all transactions within a account, along with balances and totals. It then totals the transactions and reconciles them against the starting and ending balance or total of credits and debits. It also identifies targeted transaction types, such as NSF's, overdrafts, repeating transactions and transfers.
In addition to text-based PDF statements downloaded directory from a bank, PDF Insights also processes scanned or faxed image-based PDF statements. Our proprietary PinPoint OCR algorithms review questionable fields, look for patterns to self-correct and then flag transactions that are still unknown or questionable for manual review and correction..
PDF Insights displays a scorecard for each loan application with overview information and charts. See critical information such as average monthly revenue and expenses, average daily balance, number of days negative, numbers of NSF's and Overdrafts. The scorecard also detects repeating payments, large transfers, and displays revenue with only 'true' revenue transactions.
PDF Insights outputs the scorecard into a standard format for automated consumption into your workflow or CRM system.
Our automated statement reconciliation feature compares transaction totals to summary information on the statement. If all information on the statement is consistent, PDF Insights will identify the statement as reconciled, meaning you don’t have to spend time manually reviewing statements to identify inconsistencies.
