Document capture: The documents can be scanned and uploaded as PDFs from a user’s system drive or as images using a mobile camera. Information from a mobile captured document can be extracted and verified smartly immediately, thus reducing time for manual verification and removing redundancies.
Classify: The uploaded documents are classified and categorized as types, such as a Passport or a Driver’s license, etc. Classification is the process of reading a scanned document and mapping it against a pre-defined template that exists in the system. For example, if three document templates A, B, C have been defined in a system, classification helps it to read a new document and identify which of the templates A, B, or C it is.
Extract using NLP: One of the challenges the machine struggles with is understanding the intent of a scanned document. To overcome this, we use NLP; for instance, documents such as contracts are converted into accurate text. Then NLP APIs break it down into entities with specific intent, putting sense to an unstructured document. Typical clauses like warranty period, exceptions, terms of the contract, indemnity, and any other one-sided clauses can be highlighted and given to a user to cross-verify before signing.
Verify: SDP solution intelligently captures entities or ROIs (regions of interest) and extracts all information from them. The data extracted is compared against the information filled in the application form to show the verification status.