Caselet → Passbook Analyzer
Caselet → Payslip Analyzer
Accelerating credit evaluation with Passbook Analyzer
Learn how microfinance organizations can leverage AI to streamline underwriting operations.
Background Insight
Accurate credit assessment with AI
ABD is a microfinance company operating in 5 states in southern India. Growing rapidly, it aims to double its loan portfolio of ₹250 Crores within a year.
Credit evaluation: the challenges
ABD followed the conventional approach of employing a team to analyze borrowers’ passbooks. Every step in the workflow, from data extraction and classification to credit score computation, is work-intensive.
ABD found that human limitations negatively impacted the accuracy of results and processing speed.
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Time-consuming processes
ABD’s team spent about 2.5 days scrutinizing the passbook for each application. The company found that the delay got longer as the demand grew.
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Input quality issues
Photographs were impaired by camera limitations, improper lighting, or skewing. Printer malfunctions and poor paper quality made the text difficult to read.
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Layout & terminology variations
ABD’s team had to deal with different passbook formats and transaction descriptions, which are unique and bank-specific. This called for additional skills and training.
Intelligent automation for accurate passbook
data extraction and analysis
Solution
Finuit’s Passbook Analyzer employs a smartphone app to capture
passbook images and enables instant, error-free loan approvals.
Smartphone app for data capture
The integrated app facilitates a hassle-free acquisition of passbook images from the field for immediate processing.
Support for various passbook layouts
Automatic, AI-enabled identification of the layout, account details, and transaction categories.
Extracts data from poor-quality documents
Purpose-built algorithms recognize relevant details from tilted or blurred images and overprinted or unclear text.
Features of the solution
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Support for passbooks issued by all major national and small finance banks in India
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Automated calculation of credit scores and customizable rules
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App-based data collection for instant decision-making by a backend team
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Comprehensive dashboards for
seamless management
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Built for scalability and versatile deployment needs
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Technical Support for Field Operations
Results
Quick and accurate credit evaluation, assured by AI
+
Transactions
%
Accuracy
Minutes/per passbook
TANGIBLE RESULTS
Finuit’s Passbook Analyzer gives
ABD an efficiency
boost
Finuit’s Passbook Analyzer gives ABD an efficiency boost
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Risk-free loan approvals
98% improvement in credit underwriting for safer lending
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Accelerated decisions
5x faster processing for shorter turn-around times
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Efficiency enhancements
3x boost in operational efficiency for higher profitability
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Scaling capacity of field processes
Enhanced capacity of field agents to process more cases
Finuit’s Passbook Analyser
Leverage Finuit’s AI-powered solution and profit from risk-free, turbocharged underwriting workflows.
Keen to eliminate manual, inefficient data extraction tasks that hamper your operations?