Organizations in the lending and mortgage industry process thousands of documents on a daily basis. From a new mortgage application to mortgage refinance, these business processes involve hundreds of documents per application. There is limited automation available today to process and extract information from all the documents, especially due to varying formats and layouts. Due to high volume of applications, capturing strategic insights and getting key information from the contents is a time-consuming, highly manual, error prone and expensive process. Legacy optical character recognition (OCR) tools are cost-prohibitive, error-prone, involve a lot of configuring, and are difficult to scale. Intelligent document processing (IDP) with AWS artificial intelligence (AI) services helps automate and accelerate the mortgage application processing with goals of faster and quality decisions, while reducing overall costs.
In this post, we demonstrate how you can utilize machine learning (ML) capabilities with Amazon Textract, and Amazon Comprehend to process documents

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