Streamline Your Loan Underwriting with DocuClipper
DocuClipper automates bank statement and tax form conversion with the highest accuracy and speed so you can make underwriting decisions quicker.
Trusted by 10,000+ Businesses Around the World
DocuClipper Automates the Data Entry, Streamlining Your Underwriting Process
Discover how DocuClipper’s AI-powered OCR technology simplifies financial data extraction, eliminating time-consuming manual processes and enhancing productivity for lenders.
Are these challenges familiar to you?
These are the typical challenges reported by our underwriting customers before using DocuClipper OCR:
- Manual data entrys is time-consuming.
- High error rates in manual data extraction.
- Difficulty in handling large volumes of documents.
- Slow processing times delay loan approval decisions.
- Difficulty in verifying the accuracy of extracted data.
- Limited ability to quickly access and review document data.
- Challenges in integrating extracted data with systems.
- Lack of standardized formats across different financial documents.
Why you need specialized OCR solution
These are the top benefits experienced by our underwriting customers after using DocuClipper:
- Automated data extraction saves 80+% time.
- High accuracy reduces error rates by up to 99%.
- Efficient handling of large document volumes.
- Accelerates loan approval processes.
- Ensures data accuracy and reliability.
- Reduces need for physical document storage.
- Quick access and review of document data.
- Enhances data security and compliance.
- Seamless integration with existing systems.
Simplified Loan Underwriting with DocuClipper in 3 Steps
DocuClipper’s Bank Statement and Tax Form OCR simplifies the process of converting PDF financial documents to Excel, CSV, or Google Sheets formats. Follow these easy steps to harness the power of OCR for your financial data extraction needs.
Borrower Application Completion
The borrower completes the loan application, providing all necessary financial documents, including bank statements, credit card statements, and tax forms.
Documents are Uploads to DocuClipper
The lender securely uploads the borrower’s financial documents to DocuClipper’s platform.
Data Extraction
& Analysis
DocuClipper automatically processes and extracts data from the uploaded documents, providing the lender with organized and accurate data ready for further analysis.
Simplify Financial Document Extraction for Loans
Our advanced OCR technology provides 99.5% accuracy in converting bank statements, credit card statements, and tax forms, giving you clean data for financial analysis.
Automatically Convert Any PDF Bank Statement to Excel, CSV, QBO in Seconds
Cut hours of work with bank statements down to minutes. DocuClipper bank statement converter, with a 99.6% accuracy rate, works with all bank statements. Easily convert all your clients’ bank statements and import the bank transactions into any ERP or accounting software.
Top Features
- Automatic Conversion for Any PDF Bank Statements
- Supports Both Scanned and Digital PDF Versions
- Seamless Integrations
- Bank Statement Reconciliation
- Automatic Multiple Account Detection
Automatically Extract Data from IRS Tax Forms
Simplify your tax document processing with DocuClipper’s advanced OCR technology. Automatically extract and convert key data from IRS tax forms, including 1120, 1040, 1099, and W2, ensuring accuracy and compliance. Export the data into Excel, CSV, or seamlessly integrate it into your accounting and tax software.
Top Features:
- Automatic Conversion for Any IRS Tax Forms
- Supports Both Scanned and Digital PDF Versions
- Seamless Integrations
- Accurate Data Extraction for All Tax Form Fields
Easily Import Your Data to Any ERP or Accounting Software
DocuClipper seamlessly integrates with QuickBooks and allows you to export your data into several format types so you can easily import your processed documents into any of your accounting or ERP software.
- One-Click QuickBooks Import
- Specialized Export Options
- Wide Export Options
We Ensure Your Data Is Safe
DocuClipper delivers top-tier security, featuring SOC 2 compliance, Amazon’s robust servers, and AES 256-Bit SSL encryption, ensuring your data remains protected.
- SOC 2 Certified: Meets high standards for data protection.
- Amazon Servers: Reliable infrastructure ensures uptime and security.
- AES 256-Bit Encryption: Military-grade protection for your data.
Speed Up Your Underwriting Processes & Minimize Credit Risks
Discover how DocuClipper enhances underwriting efficiency by streamlining data extraction from key financial documents, reducing risks, and ensuring seamless integration with existing systems.
Loan Application Processing
Extract and verify applicant financial data quickly and accurately for faster, more informed loan decisions.
Creditworthiness Assessment
Analyze bank and credit card statements thoroughly to provide precise and reliable credit evaluations.
Document Standardization
Convert varied financial documents into uniform, standardized formats for easy and efficient review by lenders.
Tax Return Analysis
Extract comprehensive data from tax forms to accurately assess an applicant’s financial health and history.
Compliance Reporting
Automate the extraction of critical data for regulatory compliance, ensuring accurate and timely reporting.
Fraud Detection
Identify and analyze discrepancies in financial documents to detect and prevent potential fraud effectively.
Data Integration
Seamlessly integrate extracted data into existing loan management systems for streamlined operations.
Customer Documentation
Efficiently manage, store, and retrieve applicant financial records digitally, reducing physical storage needs.
Financial Trend Analysis
Analyze financial documents to identify and understand applicant spending patterns and trends.
See Why Finance Professionals Love DocuClipper
Try the #1 Financial OCR Solution for Lenders
FAQs about DocuClipper's OCR Solution for Mortgage and Small Business Lenders
Automated bank statement data extraction uses advanced OCR technology to swiftly and accurately pull financial data from bank statements. This eliminates manual entry, reduces errors, and accelerates the underwriting process, making it a sought-after solution for lenders aiming to enhance efficiency.
Automated data extraction speeds up the lending process by quickly converting financial documents into usable data, reducing manual entry time, and minimizing errors, leading to faster and more accurate loan decisions.
Absolutely. Automated data extraction solutions are designed to scale operations, making them ideal for lenders dealing with high volumes of loan applications. By automating the process, lenders can handle more applications efficiently without compromising on accuracy.
Most advanced data extraction solutions offer seamless integration with popular accounting and financial software. This allows lenders to directly import extracted data, further streamlining the lending process and ensuring compatibility with existing workflows.
With the rise in digital lending and the demand for swift loan approvals, manual data verification becomes a bottleneck. Automated data extraction addresses this by offering a faster, more accurate, and scalable solution, making it indispensable for lenders aiming for growth and efficiency.
