CRANBURY, New Jersey, June 7, 2021 / PRNewswire / – Visionet Systems, Inc., a leading provider of digital solutions for the banking and financial services industry, today announced the launch of DocVu.AI, an intelligent document processing platform (IDP) driven by AI. There are many functions in banks, such as mortgages, which require a lot of documents, and most of these documents are still processed manually, resulting in delays and errors. DocVu.AI enables customers to seamlessly extract, analyze, search and manage datasets from multi-faceted and industry-specific contracts, business documents and agreements. Users can easily extract information using trained machine learning models. This helps customers have the quality information they need to make informed and critical business decisions.
The financial sector has recently undergone major changes due to rapidly changing interest rates and a dynamic regulatory landscape. To capitalize on these opportunities, institutions must 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, and more.
“DocVu.AI is the next generation platform that accelerates the processing of large volumes of structured and unstructured data. This enables businesses and institutions to take advantage of new opportunities, improve compliance transparency, fuel automated workflows with valuable data, and achieve faster return on investment. We have spent over 30 months in research and development to bring this world class product to life, ”says Alok Bansal, CEO of the Banking and Financial Services activity of Visionet.
According to Vaibhav Gupta, Head of Banking and Financial Products at Visionet, “DocVu.AI is uniquely positioned to meet the needs of the mortgage industry with its state-of-the-art AI / ML platform and Vision’s deep expertise, and has served the industry for over two decades. The platform comes with out-of-the-box support for over 500 documents and variants and over 4,000 data points, with more being added every day. “
Visionet mortgage solutions are widely used throughout the loan lifecycle including loan origination, management and capital markets by some of the largest banks and leading mortgage institutions. Visionet processes over 75,000 loans in a month with an average accuracy of over 98% and a turnaround time of 30 minutes to 4 hours.
About Visionet Systems, Inc.
Visionet Systems, Inc. is a leading information technology, consulting, and business process management company providing solutions that help our customers do their business better. Visionet delivers winning business results through its in-depth industry experience and a holistic view of Business through Technology. By combining digital strategy, customer-centric design and advanced analytics, Visionet helps clients build successful and adaptive businesses in banking, retail, insurance, distribution and manufacturing. A company recognized around the world for its comprehensive portfolio of services, its strong commitment to sustainable development and good corporate citizenship, Visionet has more than 7,000 dedicated employees, with a presence in ten countries on four continents. For more information, visit online at https://bfsi.visionet.com
Contact: Shahzeen Haris, [email protected]