Used Cars Loan Process Automation

Power your Pre-owned Car loan processing with faster, accurate document data extraction.

Turn manual, error prone and costly loan documentation processingto faster, smarter, and accurate with KlearStack.

Industry Problem

The automobile industry is experiencing a surge in demand for personal mobility as consumers will move away from public transportation fearing coronavirus infection. The demand for pre-owned cars is seeing an uptick and grown over 200% due to Covid. Many consumers that use buses and trains, affordability will be an issue and will turn to financial institutions for pre-owned car loans

For consumers that use buses and trains, affordability will be an issue and will turn to financial institutions for two-wheeler loans.The loan processing can last for days if bank staff is required to review and verify the data from loan documents manually.

The loan processing can last for days if bank staff are required to review and verify the data from loan documents manually. For financial institutions, it would be imperative to speed up every step of the loan processing and reduce physical touchpoints.Ability to quickly extract and validate consumer information from loan documents such as application form, KYC documents, Bank Statements, Income proof etc is crucial.

KlearStack Advantage

  • Template-Less Approach for data extraction– Captures unstructured data from loan documents, accurately & intelligently.
  • Achieve high levels of “touchless loan automation” – Minimal manual intervention required.
  • 200% Improvement in productivity – Reduced loan processing time.
  • 100% Inter-operable using REST APIs.
  • 80% Reduction in cost.