Lightico

JULY 2, 2024

The auto finance industry in particular, with its high-volume sales, dealership networks, and a highly securable and movable asset, faces mounting challenges, ranging from stringent compliance requirements enforced by the CFPB to the complexities of loan servicing, strict documentation, and vehicle repossession processes.

Compliance 52

Compliance Finance Data Entry Legal 52

Lightico

APRIL 18, 2024

Data needs to be processed quickly and accurately, especially when it is ingested by paper or digital documents. IDP is a technology that uses artificial intelligence and machine learning to automate the extraction of data from documents. It eliminates the need for manual data entry and analyzing.

Data Entry 52

Data Entry Invoicing Machine Learning ML 52

Lightico

FEBRUARY 11, 2024

This often result in inefficiencies, delays, and increased risk of errors and non-compliance. Historically, the extraction of relevant data from these documents has relied heavily on optical character recognition (OCR), manual data entry, or basic forms from the LOS or DMS with the dealership salesperson standing as the go between.

Data Entry 98

Data Entry Compliance Finance Unstructured Data 98

Lightico

JUNE 6, 2024

Especially, when manual entry requires, for compliance reasons, the dreaded “stare & compare.” Think data entry, form filling, and basic calculations—tasks that follow a clear set of instructions. Reduced Errors : Minimizes human error by eliminating manual data entry.

AI 52

AI Unstructured Data Machine Learning Compliance 52

Lightico

APRIL 4, 2024

Accuracy at Scale – Building a Foundation for Informed Decisions Human error is an inevitable part of manual processes and data entry. IDP eliminates this risk factor by extracting data with exceptional accuracy using advanced algorithms and AI. In essence, IDP doesn’t replace credit analysts; it empowers them.

Finance 75

Finance Data Entry Artificial Intelligence Compliance 75

Lightico

JULY 16, 2023

By offering online applications and leveraging automated workflows, lenders can eliminate time-consuming manual data entry, reduce errors, and accelerate application processing. E-Signatures not only save time but also enhance security and compliance by providing a tamper-proof audit trail.

Data Entry 52

Data Entry Artificial Intelligence Machine Learning Compliance 52

Lightico

JULY 26, 2023

The traditional approach involves cumbersome paperwork, manual data entry, and extensive manual review processes. AI, with its ability to analyze and interpret unstructured data, brings a transformative solution to these limitations.

Artificial Intelligence 52

Artificial Intelligence Unstructured Data AI Data Entry 52