Debt Settlement Letter

Read, extract, and analyze debt letter data accurately & efficiently.

Docsumo provides complete information on creditors and payments owed, enabling debt relief or collection agencies to make prompt calls on debt settlement terms.
Review and validate debt data to eliminate inconsistent or inaccurate information.
Allow your collections team to focus on high-value debt collection priorities rather than administrative tasks.

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Preferred by Leaders from

Finance

Insurance

Real estate

Healthcare

Logistics

Biagi Bros is saving more than 500 hours per month on their Bill of Lading processing.

Jones document processing time reduced from minutes to seconds for their ACORD forms.

Valtatech turned their invoice processing time from a few hours to < 5 minutes with 99% accuracy.

Hitachi reduced reconciliation time of bank statements to under 30 minutes. Saving around 200 hours/month.

PayU processed 7 financial statement types across 100+ banks enabling 95% straight-through processing for income & ID verification.

National Debt Relief got a straight through processing rate of over 95% for their financial documents.

Arbor Powers 95%Straight-Through Processing on 1 Billion documents for CRE lending and risk assessment.

Westland processes 2000+ utility bills in 6 formats from 6 vendors, achieving 99% data accuracy.

Explore all customer stories

Make fair settlement offers from Debt letters

Automates debt data capture from all debt letter formats, giving you validated details you can rely on.

General information

Customer Name

Current Balance

Settlement Amount

Original Account Number

Reference Number

Related information

DS ID Number

Original Creditor Name

Current Creditor Name

Collection Agency Name

Online Payment URL

Other

Creditor Address details

First Payment Due date

Final Payment Due date

Total Payment terms

Payment Table line items

Schedule demo Check all use cases

See how it works

Get to know how Docsumo simplifies data extraction for Debt settlement letters.

See how it works

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Document ingestion

Auto-classify documents

Auto-split & convert documents

Pre-trained models (MOST USED)

Train your model

Smart table extraction

Human in the Loop

Straight Through Processing (STP)

Validation Checks

Reporting

Integration

Export

Best in class for capturing data from financial documents.

“ We are using Docsumo’s APIs for automating data capture from bank statements and identity cards while onboarding customers. It has reduced the time our operations team spends on data entry by manifoldswhile providing a much better customer experience. "‍

Prashanth Ranganathan

Chief Executive Officer, PaySense (A PayU company)

5 Reasons to get the Docsumo Advantage Now!

<60sec

Reduce turnaround time for document processing from days and months to seconds

10x

Increase efficiency by 10X even as you process 10k+ documents a month

99% plus

Reduce manual and repetitive errors with intelligent automation and get accurate data from documents

Smart AI

Algorithms that self-learn based on new document formats and on the go or from manual corrections

Analytics

Make rapid decisions with easy validation and granular analytics

Readymade APIs for bank statement analysis

Approve more loans and mortgages with automated bank statement processing

Whether you underwrite personal loans, mortgages or commercial loans, process customer bank statements in real time with our readymade APIs. Docsumo's AI-based software detects changes in header/column/table positions, and subtle alterations in bank statements.

Automated Bank Statement Processing for Loan Approvals

Get analytics

Make rapid decisions with AI-based transaction categorization

Measure creditworthiness by categorize transactions for your underwriting decisions. Get granular analytics on debits, credits and previous loans in the same API call.

Automatic Transaction Categorization with Artificial Intelligence

Smart review with human-in-the-loop

Ensure 99%+ data accuracy with AI-powered review screen

Verify extracted data with our smart review screen without changing your workflow. Use Excel-like formulae to validate page totals and get better accuracy over time.

Easy integration

See bank statement data automatically on Salesforce, Quickbooks, Excel, or any financial software

Pull data from bank statement PDFs and convert them into CSV, JSON, or Excel for easy analysis and income verification. Moreover, Docsumo's intelligent processing lets you store your data securely in your existing accounting systems and financial software.

Automatically Export Bank Statements to Financial Softwares

Bank statement automation case study

Learn how PaySense processed bank statements in <30 seconds

The Situation

PaySense, a multinational fintech company, processes 100,000 loan applications a month. As part of customer onboarding, the client had to examine bank statements (amongst other documents) from 100+ banks in 1,000 formats. As a result, processing each application manually would take 24 to 48 hours.

Solution

Our Document AI platform recognized document types (passport vs bank statement) based on image characteristics and send to respective API. We helped them categorize bank transaction data to figure out gross incomes, average monthly balances etc. for underwriting loans.

<30sec

Reduced processing time of unstructured data to <30 seconds

95%+

Touchless processing using smart validation rules

70%+

Processing cost reduced by automating workflow end to end

See how we can help your Collection or Accounts teams.

Let's talk.

Docsumo's intelligent document processing enables you to extract data easily, efficiently, and accurately. Fill up the form to speak with an automation expert.

Read, extract, and analyze debt letter data accurately & efficiently.

Put Debt settlement letter OCR to test

Make fair settlement offers from Debt letters

See how it works

See how it works

5 Reasons to get the Docsumo Advantage Now!

Approve more loans and mortgages with automated bank statement processing

Make rapid decisions with AI-based transaction categorization

Ensure 99%+ data accuracy with AI-powered review screen

See bank statement data automatically on Salesforce, Quickbooks, Excel, or any financial software

Learn how PaySense processed bank statements in <30 seconds