Case Study: Large US-based Bank achieves 90% accuracy and digitizes 170K+ loan documents with EdgeVerve XtractEdge Platform

How a large US based bank digitized and processed 170K+ loan applications during a global pandemic with a 90% accuracy with XtractEdge Platform

Large US Based Bank faced an urgent surge of Paycheck Protection Program (PPP) SBA loan applications during COVID‑19, needing to review and approve 25K+ loan applications in a week and authenticate small businesses by extracting critical employee payroll data. To meet this challenge the bank worked with EdgeVerve, deploying the XtractEdge Platform to digitize and process the application documents.

EdgeVerve’s XtractEdge Platform used computer vision to crawl 25K+ loan application folders (over 170K documents), extract payroll and wage data, assemble records for traceability, and enable validation plus automated approvals without system integration. The solution delivered ~90% data accuracy, processed information at up to 15,000 digital forms per hour, accelerated loan processing while meeting audit/risk requirements, and helped the bank serve a large number of impacted customers.