Form 1040 Data Extraction Automation with MonJa’s Smart Scan Technology

MonJa’s Smart Scan Technology is for automating loan underwriting and review procedures. It extracts and processes the information from the 1040 forms with improved accuracy and speeds up the process by 70%.

This leads to reduced operational costs and an efficiently streamlined process.


Many credit, banking, and financial institutions have to collect and assess a number of 1040 forms on a daily basis. Processing these forms manually usually takes multiple working hours and entails higher chances of human errors.

This demands a solution that can quickly extract the data from the 1040 forms and present that information in a structured manner.


With MonJa Smart Scan, the users can automate the task of processing 1040 forms. The platform allows the users to improve the processing speed and eliminates the chances of any errors at the same time.

Fields that are extracted through MonJa Smart Scan

Below mentioned are the different fields that can be added, deleted, or moved automatically with the help of MonJa’s Smart Scan Platform

Basic Details

  • Name of the applicant
  • Address of the applicant
  • Occupation of the applicant
  • Details of Applicant’s Spouse
  • SSN Number and other

Income Details

  • Figure of taxable interest
  • Figure of tax-exempt interest
  • IRA Distributions
  • Annuities and Pensions
  • Social Security Benefits
  • Taxable Amount and others

Tax Details

  • Self-employed Tax
  • Child Tax Credit
  • Routing Number
  • Account Number
  • Earned Income Credit (EIC)
  • Amount You Owe

See How Your Financial Institution Can Benefit From MonJa Underwriting Automation

Reduction in document collection and processing time
Increase in Loan Origination Volume
Decrease in Loan Processing Duration

MonJa’s Smart Scan Workflow

  • Document Upload

  • Image pre-processing

  • Classification

  • Automated Scanning

  • Financial Ratios

Interested to find out if MonJa’s underwriting automation platform is a fit for your organization?

Request Your Free Trial!

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