Imagine you’re a lender dealing with hundreds of financial documents every day—income verification forms, tax returns, and asset statements. The sheer variety of formats and structures in these documents makes automation feel like a distant dream. This was the challenge faced by one of our clients, a major lending firm, where manual efforts were slowing down mortgage processing and impacting customer satisfaction.

They needed a solution that wasn’t just fast but intelligent—a system capable of adapting to the complexities of modern financial documentation. That’s where Quantiphi stepped in.

About the Client

Client is a leading USA mortgage lender, delivering rapid loan processing, competitive rates, and broker-focused partnerships that drive continuous innovation while fueling sustained growth and philanthropic community impact.

The Problem: Navigating the Maze of Financial Documents

The Lender was caught in a dilemma. On one hand, they needed to streamline their income verification process to speed up loan approvals. On the other hand, the diversity of financial documents—from tax forms to pay stubs—posed a significant challenge. Templates varied widely, datasets were inconsistent, and extracting actionable data required painstaking manual labor.

Every extra hour spent verifying documents meant delays in customer onboarding and lost opportunities to serve clients better. The goal was clear: an automated system that could process documents with precision and reliability, regardless of format.

The Challenge: Taming the Chaos of Variability

Quantiphi quickly identified two key hurdles:

Template Diversity: Financial documents came in all shapes and sizes, with no standard format to rely on.
Dataset Complexity: The documents spanned multiple types, each requiring unique classification and data extraction approaches.

Building a solution meant creating a system that could handle this variability while delivering consistent results. And that’s exactly what we set out to do.

The Solution: Harnessing AI to Rewrite the Rules of Document Processing

With the power of Google Cloud, Quantiphi designed an intelligent, automated pipeline that redefined how financial documents were processed. Here’s how we made it happen:

Upload with Ease: We built a user-friendly interface where bank employees could simply upload income and asset verification documents. No manual sorting required.
Page-Level Precision: Using Google Cloud Vision API, the solution classified each page of a document with near-perfect accuracy (~99%). Whether it was a W-2, tax return, or pay slip, the system knew exactly what it was looking at.
Entity Extraction Simplified: Leveraging Document AI API, we developed capabilities to extract critical information—names, income figures, account details—with over 82% accuracy. No more sifting through piles of paperwork.
Adaptability at Scale: By combining both template-dependent and template-free approaches, we ensured the system could handle even the most unpredictable documents.

The result? A seamless pipeline that transformed document processing from a tedious task into a swift, reliable operation.

The Magic Behind the Scenes

Quantiphi used advanced AI techniques to bring this solution to life:

TF-IDF and Logistic Regression: To improve document classification accuracy.
Computer Vision: To identify patterns and structures within documents.
Data Cleaning and Pre-Processing: To ensure accuracy at every step.

Methods

TF*IDF

Logistic Regression

Computer Vision

Data cleaning & pre-processing

The tools powering this innovation included Google Cloud Vision API, Document AI API, BigQuery, and Python—a perfect blend of cutting-edge technologies.

Tools

Cloud Vision API

Google BigQuery

Document AI API

Google Cloud Platform

Python

The Impact: Faster Loans, Happier Customers

The results spoke for themselves:

~99% Accuracy in classifying financial documents at a page level.
Over 82% Accuracy in extracting key information from documents.
Significant reduction in manual effort, enabling the bank to process more applications in less time.
Potential savings of over $1M annually.

For the lender, this wasn’t just about efficiency—it was about transforming customer experience. Faster income verification meant quicker loan approvals, happier clients, and a competitive edge in the market.

A New Era of Mortgage Efficiency

This project marked a turning point for the client. By automating document processing, they unlocked a new level of efficiency that wasn’t just about saving time—it was about redefining what’s possible in lending operations. At Quantiphi, we’re proud to be the partner that helped them take this leap forward.

Could your business be the next to harness AI for seamless, efficient operations? Let’s start the conversation.