In this blog, we'll be reviewing different ways on how one can automate information extraction of payslips ( Payslip OCR or Payslip PDF extract), and save them as structured data using Optical Character Recognition (OCR). What if you could scrape PDF versions of these payslips and reduce this time to a few seconds for faster loan processing to delight your customer? This process is time-consuming, especially during peak seasons, leading to a long time from loan application to funds being released. These can be either in a paper or digital format and sometimes sent via email or post.Ĭurrently, lenders get scanned or digital PDFs of these payslips and manually enter details from it into their systems to issue a loan. Usually, these payslips contain details such as the earnings of an employee for a particular time including other fields like his/her tax deductions, insurance amounts, social security numbers etc.
If you're a working employee or been in the past, no doubt you've come across one. Pay slips or Pay stubs as they are more commonly known are a common form of income verification used by lenders to check your credit-worthiness. How to OCR pay slips? This blog is a comprehensive overview of different methods of extracting structured text using OCR from salary pay slips to automate manual data entry.
