Smart private lenders use MoneyThumb's enterprise-level financial data extraction utility designed specifically for them. PDF Insights automatically converts PDF bank statements, credit card statements, brokerage statements, and tax forms into the format needed to ingest data into downstream systems. By utilizing this product, private lenders are able to make better informed and quick lending decisions.
If you are a private lender who is not yet using this great MoneyThumb product, take a look at the features of PDF Insights and decide if you are ready to take it to the next level, saving you time, money, and headaches.
PDF Insights determines correct categories, and extracts the correct text and numerical information, making further data manipulation easy for underwriters and sales teams.
INCREASED ACCURACY AND PRODUCTIVITY
This 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.
ALGORITHMIC NOT TEMPLATE-DEPENDENT
PDF Insights utilizes IDR (intelligent document recognition) 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. The output from each statement is delivered in a standardized format, even for statements from different banks.
API INTEGRATION AND CALCULATIONS
Through simple API Integration, PDF Insights automatically initiates and conducts a statement reading process. It then identifies high-level calculations, such as total deposits and total withdrawals, plus line-by-line transactions. It can also identify targeted transaction types, such as large deposits or large fees.
NATIVE OR SCANNED STATEMENTS
In addition to text-based PDF statements, PDF Insights also processes scanned or faxed image-based PDF statements. Our proprietary 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.
SIMPLE SYSTEMS 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.
SERVER FILE CONVERSION
PDF Insights can be installed as a web service that can be called to convert several bank statements at the same time (e.g. 3-6 months). This web service can be locally installed on your bank’s servers to function as a powerful batch processing engine for your custom workflows.
FRAUDULENT FILE DETECTION
The 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.
After reading about all the benefits PDF Insights can offer your private lending service, if you are still on the fence you can request a live demo by following this link and learn even more about the value of the product. For even more information on how PDF Insights can help you as a private lender, watch the following video.