When Citizens Bank wanted to import data from the financial statements of its commercial borrowers, it turned to intelligent document processing (IDP) to automate aspects of the process, which previously relied on manual keying. Intelligent document processing leverages artificial intelligence (AI) technologies to read and process documents.
There is no shortage of providers when it comes to IDP solutions, according to Everest Group, an IT research firm. IDP typically leverages a combination of technologies, such as optical character recognition, machine learning, robotic process automation (RPA), or deep learning technologies to extract data from unstructured forms, such as invoices or contracts.
