Amazon Web Services BrandVoice: Machine Learning Can Set Your Document Data Free - Here’s How

Some industries suffer more from this challenge than others. Financial services organizations need to examine documents, such as a loan or credit applications, with the highest degree of accuracy and care, often turning to manual review to pull out sensitive or critical information, such as mortgage rates or credit scores.

Even though digitization and IDP has been top of the mind for many business, the pandemic has drastically increased the urgency of it. In early 2020, almost all business were forced to go ‘online’ in a matter of days. And the consequences of not doing effective digitization were far too real to overcome. In April 2020, the US federal government announced the Paycheck Protection Program to provide small businesses with funds to cover up to 8 weeks of payroll, mortgage, rent, and utility expenses.

BlueVine, a fintech company that provides small business banking, used their technology, engineering expertise, and the power of machine learning to help process billions in loans. BlueVine used AWS, to help automate the loan application process. In just 4 months, they were able to serve more than 155,000 small businesses with over $4.5 billion in loans during the first round of the Paycheck Protection Program.

National Health Service, Business Services Authority provides a range of support services to healthcare organizations, contractors, and patients in the United Kingdom. As part of those services, NHS processes 54 million paper prescriptions per month. The organization requires an IDP solution that can do that work quickly—but can also enable fast, easy human intervention where necessary.

Undoubtedly, documents are the building blocks of every business. Getting the most of the data trapped in documents is of utmost importance for modern businesses.

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