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The partnership will provide banks and lenders with a “complete, end-to-end solution”.
AI-driven document processing and verification platform DocuScan Australia (DocuScan) has announced a partnership with process automation provider Cloudcase Software Solutions (Cloudcase) to provide banks and lenders with a “complete, end-to-end solution” for loan onboarding and origination.
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The partnership will integrate DocuScan’s document processing and fraud detection capabilities within Cloudcase’s automation platform to help improve the efficiency, accuracy and security of the document-handling process.
Banks and lenders will be able to onboard and originate loans within the one platform by utilising “best-of-breed” integrated solutions, according to DocuScan.
Cloudcase is already used by several lenders, including Bank Australia.
The non-major bank selected Cloudcase to transform its onboarding and origination process as part of an enterprise-wide digitisation and transformation program.
DocuScan said key benefits to the strategic partnership will include:
- Accelerating the onboarding process with automation document reading, data extraction and verification.
- Enhancing document verification with DocuScan’s “Eye-Know” engine.
- Improving fraud detection and mitigation with real-time document authenticity checks and multilayered verification.
- Automating document-heavy processes for faster decision making, greater regulatory compliance and cost reductions.
- Continuous improvements as DocuScan’s machine learning algorithms adapt to new fraud technologies.
Brett Spencer, DocuScan founder and CEO, said the company is thrilled to partner with Cloudcase and bring advanced document processing data extraction and verification technology to a wider range of banking and lending institutions.
“This partnership will help financial institutions streamline their operations, significantly reduce fraud risks, and ultimately serve their customers better while protecting their assets,” Spencer said.
Meanwhile, Roger Manu, Cloudcase president, co-founder and CEO, heralded the collaboration as a “significant step forward” for the business’s banking and lending clients.
“Our collaboration with DocuScan represents a significant step forward in our mission to provide cutting-edge, intelligent automation solutions to the banking and lending sector,” Manu said.
“By integrating DocuScan’s powerful document processing and fraud detection capabilities, we’re enabling our clients to operate more efficiently, make faster decisions, and provide a superior and more secure experience to their customers.”
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