The current process of extracting critical information from financial documents (bank statements, ITR, Form-16, etc.) and KYC documents (PAN, Aadhaar, etc.) relies heavily on traditional OCR methods, which are prone to errors. Manual extraction of key data points results in delays and increased chances of error, impacting the efficiency and reliability of decision-making processes in financial institutions, such as banks and insurance companies.

LUMIQ’s Document Analyzer automates and streamlines data extraction from various financial and KYC documents. Leveraging Generative AI, the solution accurately extracts relevant data points, significantly enhancing the accuracy and speed of data processing. The solution is also designed to calculate key metrics like salary information, fixed liabilities per month, total credit, total debits, etc. This can also connect with external sources like regulatory bodies to ascertain the authenticity of the submitted identity proof

Key Benefits:

· Improved Extraction Accuracy

· Enhanced Compliance

· Improved Productivity

· Reduced Operational Cost

Key KPIs Affected:

· Lower Processing Time

· Increased Compliance Adherence

· Reduced Error Rates

· Lower Operational Costs

Technical Specifications:

Supported Platform – Azure

LLM Model – GPT-4

Deployment – Cloud-based

GenAI based DataGenie (Document Analyzer)

by Crisp Analytics Private Limited