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.
Problem
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.
Solution
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
Income Details
Tax Details
See How Your Financial Institution Can Benefit From MonJa Underwriting Automation
MonJa’s Smart Scan Workflow
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Document Upload
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Image pre-processing
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Classification
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Automated Scanning
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Financial Ratios
Interested to find out if MonJa’s underwriting automation platform is a fit for your organization?