Docsumo is an intelligent document workflow automation platform for financial services firms. Docsumo helps companies extract data from documents, analyze that data and detect document fraud.
Docsumo’s technology reduces back-office costs by up to 70% and increases productivity by 50%. For every million documents processed by a bank at about $1 per document, DocSumo can directly save $700k. What differentiates Docsumo is that their technology can read non-standardised documents such as bank statements, invoices, pay stubs and contracts with over 98% accuracy and more than 90% straight-through processing.
Docsumo was started by Rushabh & Bikram while solving the same problem of digitizing paper-based processes for a Canadian bank.
