Axis supports lots of clients in the financial industry and with the federal government’s stimulus and interest rates so low there have been a lot of loan applications. We are helping with loan application automation.
Goodness knows we wish we were working on other things, but we’ve been burning the midnight oil to be able to deploy a solution on our Artificial Intelligence Document Classification and Data Extraction platform to extract data from Paycheck Protection Program (PPP) application forms. With the data extracted, we can apply some sophisticated decision support tools to channel or divert the application to our client’s Loan Origination Systems and make the decision-making process easy for auditors with quick and easy comparisons and verification of data and document authenticity. Our clients’ objective (and ours) is to help speed the deployment of the PPP to get our economy rolling again.
As we all work through these challenging times, our engineers have been thinking about how our platform could be adapted to support our clients’ new realities. Loan application automation is just one of the internal business processes that can be optimized to reduce manual effort and increase operational resiliency.
Together we will get through this.
Our story is our ability to continue to service our clients, and I’d encourage you to share yours.