Published:
October 26, 2023
Category:
Technology
AI-powered document analysis revolution
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AI-Powered Document Analysis Revolution
A Case Study on AI-Driven Loan Automation
Documents analyzed
- Financial statements (Balance Sheets, Income Statements, Cash Flow Statements)
- Incorporation Documents(Certificate of Incorporation,Memorandum & Articles of Association)
- Tax returns and filings
- Bank statements
- Credit reports
- Ownership and affiliation
- Documents
- Business plans and projections
- Collateral documents (if applicable)
OBJECTIVES
The goal was to revolutionize the traditional loan verification process for businesses. Historically, prolonged wait times and manual scrutiny of diverse documents led to inefficiencies and potential inaccuracies in loan approvals. This posed challenges in ensuring timely financial support for businesses, affecting their growth and operational fluidity.
SOLUTIONS
Leveraging Machine Learning, serverless technology, and 150 specific verification rules, our system redefined document analysis for rapid and accurate verifications. The intuitive interface, combined with this multifaceted tech approach, delivered real-time feedback and precise loan decisions within 15 minutes.
CLIENT FEEDBACK
Since BlueRider.Software has joined the project, the client channels 1000% more applications through their credit risk engine. The team can easily adapt to the client’s project management and communicates clearly to deliver products on time. They are independent, helpful, and responsive.
// REVOLUTIONIZING SME LENDING
Custom Software Dev for Financial Company
“I highly value their strive for excellence.”
PROJECT DETAILS
// Custom Software Development
// Oct 2020 - Ongoing
// $50,000 to $199,999
PROJECT SUMMARY
A financial company collaborates with BlueRider.Software for their custom software development needs. The goal is to improve the client's use of Phyton and create a credit risk engine.
THE CLIENT
Please describe your company and your position there. "I am a tech lead responsible for implementing original credit risk model and internal reporting tools that is leading a blended team consisting of BlueRider.Software and other developer."
THE CHALLENGE
For what projects/services did your company hire BlueRider.Software, and what were your goals? "We hired BlueRider to be part of blended teams within our company. The overall goal of was to improve our Python best practices, build credit risk engine and improve endpoints based on Python."
Overall Score in Client Rating
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The Approach
How did you select this vendor and what were the deciding factors?
“The deterministic factor to choose BlueRiders was their broad pool of Python developers that are actively engaged in Bialystok Python community Pystok.”
Describe the scope of work in detail, including the project steps, key deliverables, and technologies used.
“The scope of work included, but was not limited to creating credit scoring risk model build on AWS Lambda and Step-functions connected with AWS Sagemaker. Developers were responsible for modifying the existing infrastructure, improve test coverage and further develop it based on requirements from internal stakeholders. The credit risk model requires constant improvements based on new risk data, which ensures that it will not finish with single deliverable goal. Apart from the risk model the developers are responsible for creating connectors that will channel data to internal monitoring tools. Due to the fact that developers were intended to be a part of blended teams there was no clear goal of the project. Developers are integral part of the team and work hand in hand in agile framework with others.”
How many people from the vendor’s team worked with you, and what were their positions?
“I had a chance to work with 3 Python developers from BlueRiders that were developers with various level of experience.”
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The Outcome
Can you share any measurable outcomes of the project or general feedback about the deliverables?
“Thanks to contribution of BlueRiders development we managed to channel 1000% more applications through our credit risk engine over the period of our cooperation. The developers showed high level of independence and willingness to implement best coding practices that were well perceived by the rest of the team. When faced with not clearly defined tickets during sprint, they can suggest their own good solutions.”
Describe their project management style, including communication tools and timeliness.
“We worked together in blended teams in Agile. We use Jira as our project management tool and BlueRiders didn’t have any problems with adapting to it. In terms of timelines the developers do delivered the tasks mostly on time and were communicating clearly whenever there was a risk of delaying or working extra hours to deliver them.”
What did you find most impressive or unique about this company?
“Throughout my two visits on site in BlueRiders office I had a chance to see a very friendly atmosphere between the team and the management. I highly value their strive for excellence.”
Are there any areas for improvement or something they could have done differently?
“They could inform the partners better about developer availability and their schedule collision with other projects.”
