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Business Impact

  • 97.8%

    Classification accuracy

  • 700+

    Documents in 2 minutes processing speed

Customer Key Facts

  • Rank : Fortune 50
  • Size : 7,500+ employees
  • Location : Washington, D.C.
  • Industry : Financial Services

Problem Context

A leading federal national mortgage association receives over one million paper documents a year, including invoices, tax statements, and checks from their customers and vendors that must be manually sorted and organized; posing a risk for fraud that could go undetected due to the large volume and scale of these documents.

They wanted to organize their service reimbursement process by automating the digitization of documents and efficiently detecting fraudulent requests.

Challenges

 

  • Manual effort to digitize and classify 1+ million documents per year
  • Entity extraction in a template-free format
  • Documents of more than one type might be packaged together or on the same page (i.e. invoices and checks)
Challenges

Technologies Used

Google Cloud Vision API

Automating the Classification & Digitization of Documents with Document Understanding AI

Solution

Quantiphi developed a machine learning-based custom document classification model to organize and extract information from these documents into a structured dataset at scale.

Result

  • Cost optimization
  • Time savings
  • Enterprise grade accuracy levels for Optical Character Recognition

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