Statement Conversion for Financial Lenders
Enterprise level services allow you to automatically convert bank, credit card, and brokerage statements into the formats you need to determine an applicant’s creditworthiness. You can also extract the data for further use by underwriters.
“I use MoneyThumb to underwrite my applicants and borrowers.”
- MoneyThumb Customer
Increased Accuracy and Productivity
Our software serves as your first set of eyes, automatically processing bank statements, empowering underwriters with a side-by-side review complete with insights and calculations, dramatically increasing the speed and accuracy of the human underwriting process.
API Integrations and Calculations
Through simple API Integration, PDF Insights automatically initiates and conducts a statement reading process, identifies high-level calculations, such as total deposits and total withdrawals, and targets transaction types, such as large deposits or fees.
Simple System Integration
PDF Insights outputs captured data into a standard format for automated consumption into your bank system. This can proceed via .csv or .json to make ingestion into your CRM, Accounting or ERP system easy and seamless.
Native or Scanned Statements
In addition to text-based PDF statements, PDF Insights also processes scanned or faxed image-based statements. Our proprietary OCR algorithms review questionable fields, look for patterns to self-correct and flag transactions that questionable for manual review and correction.
Alogorithmic - Not Template Dependant
PDF Insights utilizes IDR (intelligent document recognition) to identify bank/statement formats. Unlike competitors, our solution doesn't need to be told upfront which bank or format is being used, yet correctly processes over 99% U.S. statements. Output is delivered in a standardized format, even for statements from different banks.
Fraudulent File Detection
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.
Server Based File Conversion
PDF Insights can be installed as a web service capable of convert 6 months of bank statements at the same time. Installed locally or on your bank’s servers, PDF Insight can function as a powerful batch processing engine for your custom workflows.
Recognizes 95% of U.S. bank statements, through intelligent document recognition algorithms. Unlike template-dependent processes, our software doesn’t need to be told upfront what bank statement format is being used.
Proprietary optical character recognition algorithms review questionable fields, look for patterns to self-correct and flag questionable transactions. Employ the power of the only OCR software developed specifically for bank statements.
Conversion accuracy is ensured by automatic reconciliation, which compares transaction totals to summary information on the statement. If everything checks out, the statement is identified as reconciled, saving you time and manual review.
Auto-assisted cleanup of transaction payee names helps keep transactions correctly categorized and consistent, saving you further review and correction time.
Watch the Video Demo
Learn how the power of PDF Insights can help your organization speed financial file conversion processes and improve underwriting workflows.
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