Form 1040 Data Extraction Automation with MonJa’s Smart Scan Technology

MonJa’s Smart Scan Technology is for automating loan underwriting and review procedures. It extracts and processes the information from the 1040 forms with improved accuracy and speeds up the process by 70%.

This leads to reduced operational costs and an efficiently streamlined process.

Problem

Many credit, banking, and financial institutions have to collect and assess a number of 1040 forms on a daily basis. Processing these forms manually usually takes multiple working hours and entails higher chances of human errors.

This demands a solution that can quickly extract the data from the 1040 forms and present that information in a structured manner.

Solution

With MonJa Smart Scan, the users can automate the task of processing 1040 forms. The platform allows the users to improve the processing speed and eliminates the chances of any errors at the same time.

Basic Details

Income Details

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Tax Details

MonJa’s Smart Scan Workflow

Document Upload

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Classification

Automated Scanning

Financial Ratios

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MonJa provides highly-advanced intelligent document automation, document management, and underwriting for financial institutions.