What Inscribe AI Does
Inscribe AI is focused on automating and improving fraud detection, document review, and risk management for financial institutions, including banks, fintech companies, and other financial service providers. The platform leverages advanced machine learning models to streamline manual processes, reduce human error, and enhance overall operational efficiency.
Key Features and Functionality
Fraud Detection
Inscribe AI employs best-in-class detection models that combine heuristics and deep learning to identify and prevent document fraud. The system assigns a Trust Score to documents and provides detailed snapshots of any detected fraud, helping risk teams quickly assess the trustworthiness of applicants and their documents.
Document Classification and Verification
The platform instantly classifies documents by type (e.g., bank statements, tax forms) and subtype (e.g., Bank of America, W-2), ensuring that the correct documents are submitted and in the requested date range. It also verifies the information on submitted documents against existing records to maintain compliance and reduce friction in onboarding processes.
Document Parsing
Inscribe AI’s document parsing technology efficiently extracts key financial information from various document types, such as bank statements, checks, pay stubs, and business tax returns. This data is structured and made available for further analysis, significantly reducing manual data entry tasks.
Transaction Enrichment
The platform categorizes transactions to identify income, expenses, loan repayments, and other financial activities. It also provides merchant names to give a clearer picture of a customer’s financial behavior, enhancing risk assessments and financial decision-making.
Cashflow Analysis
Inscribe AI analyzes financial transactions from multiple sources, including bank statements, pay stubs, Plaid, and MX, to provide comprehensive insights into an applicant’s financial health. This feature helps in evaluating creditworthiness by examining income, loans, and expenditures.
Integration and Automation
The platform integrates seamlessly with existing systems through a powerful and flexible REST API, allowing organizations to automate document verification, fraud detection, and data extraction. This integration enables real-time document verification and automated data entry, improving operational efficiency and customer experience.
AI Risk Agents
Inscribe AI deploys AI Risk Agents that automate fraud detection and compliance monitoring. These agents enable risk teams to focus on more strategic tasks while reducing the likelihood of human error.
Conclusion
In summary, Inscribe AI is a robust solution that enhances fraud detection, streamlines document review, and improves risk management through advanced machine learning and automation, making it a valuable tool for financial institutions aiming to reduce fraud losses and improve operational efficiency.