Major advance in document extraction technology effectively gives access to data from recorded documents,
loan origination packages, and any other structured, semi-structured, or unstructured document,
of any length, and at remarkable speeds.
ORANGE, Calif. - October 15, 2014 -
NextAce today announced the immediate availability of NeXtraction™, a highly adaptable and accurate data capture engine and related workflow that leapfrogs traditional extraction environments, systems, and processes to instantly turn document images into actionable data and information. Designed for document- and data-centric mortgage, real estate, and title insurance markets, the highly automated functionality of NeXtraction gives customers the ability to intelligently index, extract, catalog, understand, and deliver information from structured, semi-structured, or unstructured documents of any length, while also replacing or reducing costly and time-consuming manual or offshore keying initiatives in place today.
“NeXtraction makes possible the true harnessing of data,” said NextAce CEO Don Cantral. “This major advance in data capture represents a best-of-breed data extraction workflow solution, readily available to any organization wanting to reduce expenses, increase efficiencies, and focus on the assets they possess or process.”
NextAce is the original pioneer in automating as much of the title search and examination process as possible. The software-as-a-service technology company has continually advanced its automated production and workflow platform to create the most powerful and fastest data capture and extraction engines for machine-generated and handwritten information, all while processing more than 100 million documents.
NeXtraction can process data images and view, identify, collect, extract, and populate databases with the results, from one to hundreds of pages, while understanding, separating, and extracting from individual documents that may be a part of a larger package. It learns from and recognizes patterns of information and text and performs in-line corrections as required. This technology relies on numerous sophisticated components and algorithms that complement and enhance one another to deliver unmatched results. For example, by incorporating a high degree of validation including signature, date, and initials identification, NeXtraction can greatly reduce the possibility of unexecuted or uninitialed documents making their way through the closing process. NeXtraction creates auditable workflows, makes annual audits easier, and helps companies reduce the risk of potential fines and losses.
Equally adept at processing small- or large-volume projects at unmatched speeds, NeXtraction can be configured to fit the customer’s workflow needs. To learn more, visit nextace.com or call 714.953.9300.
©2014 NextAce Corporation.