Streamline Your Loan Underwriting with DocuClipper
DocuClipper automates bank statement conversion with the highest accuracy and speed so you can make underwriting decisions quicker.
TRUSTED BY THOUSANDS OF BUSINESSES ACROSS THE GLOBE
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.
Time Consuming Manual Statement Processing
- Manual data extraction is tedious and error-prone
- Delays underwriting and loan funding
- Can't keep pace with application volume
- Leads to applicant drop-off and missed opportunities
- Fake statements slip through causing bad decisions
- Additional manual verification slows down process
- Undermines confidence in lending decisions
Accelerate Underwriting with Automated Data Extraction
- Automates statement data extraction
- Validates accuracy through reconciliation
- Scales operations for high volumes
- Accelerates underwriting and onboarding
- Reduces fraud, error risk and missing critical data
- Ensures consistent, error-free data processing
Simplified Loan Underwriting with DocuClipper in 3 Steps
DocuClipper’s Bank Statement OCR simplifies the process of converting PDF bank statements 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 and credit card statements.
Lender Uploads to DocuClipper
The lender securely uploads the borrower’s bank and credit card statements to DocuClipper’s platform.
Data Extraction
& Analysis
DocuClipper automatically processes and extracts data from the uploaded statements, providing the lender with organized and accurate data ready for further analysis.
Why Lenders Rely on DocuClipper for Faster Underwriting
Accurate Data for Spreading
99.5% accuracy meets lender requirements for validated statement data ready for spreading.
Instant Conversions
Convert new client statements in seconds to start underwriting borrowers faster.
Supports All Banks
Supports all personal and business statements for a complete financial profile.
#1 Bank
Converter
Rated as the #1 Bank Statement Converter, with unmatched accuracy and ease of use.
Expert
Support
Our experts understand lending processes and are available to assist your team with any needs.
Built for Faster Insights
Features like multi-account visibility and reconciliation accelerate underwriting.
Simplify Bank Statement Extraction for Loans
Our advanced OCR technology provides 99.5% accuracy in bank, credit, and brokerage statement conversion, giving you clean data for financial analysis
Works with Any
Bank Statement
Whether it’s a local credit union or a global bank, extract transactions, dates, and account details effortlessly. Perfect for diverse loan portfolios.
Fraud Detection with Automatic Reconciliation
Simplify due diligence with automatic validation. Spot red flags faster, verify statement authenticity, and accelerate the underwriting process.
Batch Processing for Efficient Loan Origination
Onboard new borrowers faster. Our batch processing converts all statements in seconds while our multi-account detection creates a comprehensive financial view.
Seamless Integration through API
Optimize your loan origination process. Sync extracted data effortlessly using our API for automatic asset verification.
Customizable Output for Streamlined Analysis
Choose only what you need. Download only the required fields into Excel for faster credit report validation, income calculations, and spreading making debt-to-income ratio calculations a breeze.
See Why Finance Professionals Love DocuClipper
Bank Statements Processed
Customers
Accuracy
Avg. Processing Time
DocuClipper saved us a lot of time
DocuClipper has helped us eliminate several manual data entry processes, saving us a lot of time.
Try the #1 Bank Statement 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.
By automating the extraction of financial data from bank statements, lenders can significantly reduce the time spent on manual verification. This leads to faster underwriting, quicker loan approvals, and an overall streamlined lending process, meeting the demands of both lenders and borrowers.
Yes, leading automated data extraction tools incorporate reconciliation features that validate the accuracy of extracted data. This not only ensures genuine data integrity but also helps in detecting fake or tampered bank statements, safeguarding lenders from potential financial fraud.
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.
