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  • 2018/08/28
  • 3 min

Docdigitizer revolutionises paper handling and speeds up response time for consumer loan applications

During the international Start & Pulse competition for innovative start-ups run by Crédit Agricole Consumer Finance, Credibom, CA CF’s subsidiary in Portugal, Docdigitizer – a start-up that automates the process of handling incoming documents with machine learning – was picked their winner and a promising partnership was formed.

Docdigitizer can process contracts, invoices, insurance reports, credit applications, among other document types. In many sectors, handling documents and other forms can be costly and wastes significant vital energy. How does Docdigitizer tackle this issue? Docdigitizer uses artificial intelligence powered by machine learning to automate the document handling chain.

Through the use of algorithms, Docdigitizer starts by analysing the documents to define their type; thereafter, the program extracts useful data, which are integrated into the company’s IT system. What does Docdigitizer bring to the table? Considerably lower error rates, resolution times and processing costs.

 

Creating value with Credibom

 “We are very pleased that Credibom selected us for this call for projects,” says Joao Fernandes, founder and CEO of Docdigitizer. We have a very fond memory of the two-day Bootcamp with the other short-listed start-ups, which gave us the opportunity to hold fruitful discussions with the Credibom teams about the value we could create together. We felt there was an excellent dynamic and a willingness to work resolutely with agility."

 

Pilot experiments

It is with this mindset that we have continued to work in close partnership with Credibom. "To set ourselves apart in our competitive environment, we are looking for solutions that can improve our operational and business efficiency, as well as the quality of our customer experience," said Pedro Mata, Marketing Director. The Docdigitizer solution dovetails perfectly with this goal, and we have found several processes that can be applied to it.” Four pilot experiments have been launched. Monitored by Credibom employees, who served as coaches, these experiments have been performed in agile mode and in the spirit of innovation.

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