Leveraging Generative AI and OCR for Automating Loan Document Processing in Fintech

The digitization of loan document processing has become increasingly crucial in the financial technology (Fintech) sector. Traditional approaches relying on manual or rule-based systems struggle with low-quality scans, diverse document formats, and fraud detection. This paper explores the integration of Generative Artificial Intelligence (GenAI) and Optical Character Recognition (OCR) technologies for automating loan document workflows. Key challenges addressed include handling noisy or low-quality input, identifying fraudulent documents, and leveraging advanced technologies such as deep learning, transformer-based models, and anomaly detection techniques. The proposed framework aims to streamline data extraction, improve accuracy, and ensure robust fraud detection while maintaining scalability and efficiency.