Visionet launches DocVu.AI - Intelligent Document Processing Platform for Mortgages and Beyond
CRANBURY, N.J., June 7, 2021 /PRNewswire/ -- Visionet Systems, Inc., a leading provider of digital solutions to the Banking and Financial Services industry, announced today the launch of DocVu.AI – an AI-driven Intelligent Document Processing (IDP) platform. There are many functions in Banks like Mortgages that are document-intensive, and most of these documents are still processed manually, causing delays and errors. DocVu.AI enables clients to seamlessly extract, analyze, search, and manage datasets from multifaceted, industry-specific contracts, trade documents, and agreements. The users can easily extract information using trained machine learning models. This helps the clients have the quality insights they need to make informed and critical business decisions.
The financial industry has witnessed major shifts recently due to fast-changing interest rates and a dynamic regulatory landscape. To capitalize on these opportunities, the institutions need to automate and transform their current processes. Business data is at the heart of digital transformation, but unfortunately, most of it is embedded in unstructured formats like business documents, emails, images, etc.
"DocVu.AI is the next generation platform that accelerates the processing of large volumes of structured and unstructured data. This allows companies and institutions to leverage new opportunities, improve compliance transparency, power-up automated workflows with valuable data, and achieve faster ROI. We have put in over 30 months of research and development to bring this word-class product in place," says Alok Bansal, CEO of Banking and Financial Services business at Visionet.
According to Vaibhav Gupta, Head of Banking and Financial Products for Visionet, "DocVu.AI is uniquely positioned to cater to the needs of the mortgage industry with its state-of-the-art AI/ML platform and Visionet's deep-seated expertise in serving this industry for over two decades. The platform comes with out-of-the-box support for 500+ documents and variants and 4000+ data points, with more being added every day."
Visionet's mortgage solutions are used extensively across the loan lifecycle, including Loan Origination, Servicing, and Capital Markets by some of the largest banks and leading mortgage institutions. Visionet processes more than 75,000 loans in a month with accuracy averaging over 98% and turnaround time ranging from 30 minutes to 4 hours.
About Visionet Systems, Inc.
Visionet Systems, Inc. is a premier information technology, consulting, and business process management company that delivers solutions to enable its clients to do business better. Visionet delivers winning business outcomes through its deep industry experience and a holistic view of Business through Technology. By combining digital strategy, customer-centric design and advanced analytics, Visionet helps its clients create successful and adaptive businesses in banking, retail, insurance, distribution, and manufacturing. A company recognized globally for its comprehensive portfolio of services, a solid commitment to sustainability and good corporate citizenship, Visionet has a dedicated workforce of over 7000, with its presence in ten countries across four continents. For more information, visit online at https://bfsi.visionet.com
Contact: Shahzeen Haris, [email protected]
SOURCE Visionet
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