[Playbook] Classifying Documents with OCR (Optical Character Recognition)

Here’s the situation: Your financial institution has been digitizing documents for many years, but now you’re looking to optimize imaging workflows and reduce data entry. You’ve heard about OCR (optical character recognition) and its ability to extract information from electronic records. This article shares two plays for using OCR in FASTdocs to streamline document classification.

Play #1: Classifying One-Off Documents

Let’s imagine that a customer walks into your downtown branch and provides an updated insurance document for an auto loan. Here’s how a front-line team member could promptly add the item into FASTdocs without manually keying in every detail.

Here’s the Game Plan

Step 1: Locate the customer’s record and navigate to the correct directory in FASTdocs. In this case, drill down into the customer’s insurance-related documents.

Step 2: Right clicking on the appropriate folder presents an option to scan a new document. Follow the prompts to initiate scanning.

Step 3: By scanning the document into the customer’s insurance folder, FASTdocs automatically applies index information that makes sense for this particular document (i.e., an auto insurance document).

Step 4: Insurance policy details, agent contact information, vehicle identification numbers (VIN), and other data can be easily extracted using OCR features in FASTdocs. Simply select “OCR Click” and use your mouse to complete the indexing process.

Bonus Tip: FASTdocs also lets you drag and drop electronic documents, such as PDFs provided via email or secure portal.

Play #2: Classifying Documents While Batch Scanning

Some scanning situations involve digitizing many different documents at once, such as when an institution works through its paper backlog. Batch scanning accelerates digitization but can present classification challenges. Utilizing OCR capabilities in FASTdocs can help here, too.

Here’s the Game Plan

Step 1: Navigate to the batch scanning page in FASTdocs and initiate a scan.

Step 2: Use FASTdocs to partition items into logical document sets.

Step 3: As with the first play, use OCR in FASTdocs to quickly extract information from each scanned-in document and expedite the classification process.

Classify Your Documents in Fewer Steps

Ready to achieve a scalable document imaging workflow for your bank or credit union? Unlock the benefits of OCR and intelligent classification with FASTdocs.

Learn more: Fastdocs

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[Playbook] Classifying Documents with OCR (Optical Character Recognition)

Play #1: Classifying One-Off Documents

Here’s the Game Plan

Play #2: Classifying Documents While Batch Scanning

Here’s the Game Plan

Classify Your Documents in Fewer Steps

TOUT

TOUT

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[Playbook] Integrating Banking Systems with FASTdocs like Core and Digital Banking Solutions

[Playbook] Classifying Documents with OCR (Optical Character Recognition)

Play #1: Classifying One-Off Documents

Here’s the Game Plan

Play #2: Classifying Documents While Batch Scanning

Here’s the Game Plan

Classify Your Documents in Fewer Steps