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Evaluating the Best OCR Tools for Financial Document Automation

Evaluating the Best OCR Tools for Financial Document Automation Compare and contrast common document recognition tools to find the right one for your business. Contents Too Long, Don’t Read Using OCR Tools in the Financial Sector Types of OCR Tools Available Popular OCR Tools and Software for Financial Documents Key Features to Consider When Researching […]

Data Standardization in Regulatory Compliance

Implementing Effective Data Standardization in Regulatory Compliance Explore the benefits, challenges, and solutions for data standardization at a global enterprise. Contents Too Long, Don’t Read Regulatory Compliance in the Financial and Healthcare Sectors The Role of Data Standardization in Regulatory Compliance Best Practices to Meet Regulatory Compliance Additional Benefits of Data Standardization Ask Jason! In […]

Cross-Platform Data Standardization

Navigating the Complexity of Cross-Platform Data Standardization in a Global Economy Explore the benefits, challenges, and solutions for data standardization at a global enterprise. Featuring guest contributor, Mark Dangelo. Mark Dangelo currently serves as an independent design and innovation advisor to banking, mortgage, insurance, healthcare, private equity, and miscellaneous VC funded firms developing data meshes/fabrics, […]

The Real Cost of Bad Data

Half a Billion and Counting: The Real Cost of Bad Data Citigroup was ordered to pay more than five hundred million dollars in fines for poor loan quality. Contents Details of the infraction What went wrong How to avoid the same mistakes Citigroup was ordered to pay $135 million in fines for making insufficient progress […]

The 3% OCR Accuracy Gap

man sitting in front of a laptop while using one hand to hold a pad of paper and the other to frustratingly hold his head

OCR technology has the potential to revolutionize the way enterprises process documents. However, without data validation technology, the full benefits of OCR cannot be realized. Data validation enhances the accuracy, reliability, and efficiency of OCR systems, making them truly effective for enterprise use. By investing in robust data validation solutions, enterprises can unlock the full potential of their OCR systems, ensuring accurate data extraction, compliance with regulations, and improved operational efficiency.

Future-Proofing Data Governance

Changing paradigms in data technology creates a challenge to the traditional hierarchical data governance model where IT alone oversees data and technology. In this model, all data and tech requests must go through one department. With an increasing number of data and technology requests, this bottleneck creates inefficiencies, and engenders data fragmentation that creates significant risk: compliance risks, data security risks, and more.

What is Fuzzy Matching?

fuzzy matching vs entity matching

Fuzzy matching is an advanced technique to link data points that are connected in real life. Enterprises use fuzzy matching to speed up data comparison and standardization. When combined with a robust data validation process, fuzzy matching helps improve overall data health.

Customer Story: Streamlining Servicing Transfers at Equiant

BaseCap Customer Story

Equiant’s partnership with BaseCap Analytics marked a pivotal improvement in their servicing transfer operations. The data validation platform not only streamlined processes and reduced the need for manual labor but also empowered the onboarding team to manage transfers independently. This collaboration resulted in faster, more accurate servicing transfers, saving time and resources and enhancing Equiant’s market reputation.

Generating Value from Generative AI

Generative AI will heavily influence the value of information services companies in the next half decade, according to a report by Morgan Stanley.

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24 Hour Loan Due Diligence Guarantee

Guarantee Offer:
We guarantee a 24-hour turnaround time for performing a standardized diligence checklist and providing a certification for eligible loans. If we fail to meet this commitment, we will provide a credit for the affected loan on the client’s next loan submission. This guarantee timeline does not apply to exception resolution and subsequent reruns of loans.

Conditions & Exclusions:

This guarantee applies under the following conditions:

  1. Cutoff Times & Business Days:
    1. The 24-hour period begins from the time of submission, provided it occurs before the daily cutoff time as defined in the contract.
    2. 2.Submissions received after the cutoff time will be treated as received on the next business day, and the 24-hour period will begin from that point.
  2. Force Majeure & System Outages:
    1. This guarantee does not apply in the event of Microsoft Azure outages, broader cloud service disruptions, or any force majeure events beyond our control.
  3. Third-Party Dependencies:
    1. If document scans, data files, third party reports or other required materials are delayed due to our provider or an integration partner, the 24-hour clock will not begin until all necessary documents and data are received.
  4. Volume Spikes:
    1. If loan volume exceeds 30% of the rolling 30-day average, we reserve the right to temporarily suspend the 24-hour guarantee until processing volumes return to normal or are reflective of the new increased average.
  5. Exclusions & Modifications:
    1. We reserve the right to modify or suspend this guarantee at our discretion in the event of circumstances beyond our reasonable control.
    2. The credit applies only to the next loan submitted by the client and has no cash value.

By submitting a loan for diligence under this guarantee, the client acknowledges and agrees to these terms.