Xlrt automates the extraction and analysis of financial data from unstructured documents using advanced optical character recognition (OCR) and natural language processing (NLP) technologies. This platform significantly reduces manual processing efforts by over 70%, enabling financial institutions to enhance efficiency and gain actionable insights from diverse data sources.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face challenges in efficiently extracting and analyzing data from unstructured documents, leading to manual processing bottlenecks and delays in gaining actionable insights. The variety of document formats and layouts further complicates the process, requiring significant time and resources for data extraction.
Solution
Xlrt offers an AI-powered platform that automates the extraction and analysis of financial data from unstructured documents, such as financial statements, contracts, and invoices. By leveraging optical character recognition (OCR), natural language processing (NLP), and deep learning, Xlrt accurately identifies and extracts relevant information, even from low-resolution or compressed documents. The platform provides contextual classification using preloaded knowledge of major Generally Accepted Accounting Principles (GAAP), delivering insights in the right context. Xlrt enables financial institutions to streamline data processing, reduce manual efforts, and gain a holistic view of their customers' financial health.
Target Audience
Xlrt primarily targets financial institutions, including corporate lenders, retail lenders, mortgage providers, audit functions, data vendors, and contract management teams.
Features
- Automated data extraction from various document formats and layouts using OCR and deep learning
- Contextual classification with NLP and preloaded knowledge of major GAAPs
- AI models that automatically detect relevant information from low-resolution documents and images
- Normalized analysis for data providers and smart summaries of annual reports
- Automatic analysis of commercial contracts with inference of commercial terms to project cash flows
- Template-free parsing of invoices with smart sanity checks and superior validation flow
- Secure and reliable architecture with best-in-class security
- Cloud-first strategy for managing fluctuating workloads and rapid support for diverse document types
- Seamless integration with existing software investments