Blanc Labs and thirdstream collaborate to bring IDP to FI

Through this partnership, Blanc Labs integrates its Intelligent Document Processing solution into thirdstream’s platform, helping financial institutions launch new products and services faster while eliminating up to 80% of manual document review, improving the customer experience.

Blanc Labs, a provider of fintech automation solutions, announced on October 25 a partnership with thirdstream, a provider of retail, commercial and credit card onboarding services. The collaboration will benefit financial institutions that want to improve and accelerate their personalized services with pre-integrated solutions.

Manual data entry and manual document review is slow and error-prone and hinders the operational efficiency of financial institutions. In today’s economy, automated document understanding and data extraction are critical to expedite account openings and support the underwriting of new retail and commercial accounts. The collaboration between Blanc Labs and thirdstream helps financial institutions do just that.

Commenting on the partnership, Blanc Labs CEO Hamid Akbari said: “Our services today address challenges across the financial ecosystem. Together with thirdstream, we’d like to offer faster time to value realization with our solution. Blanc Lab’s Intelligent Document Automation eliminates manual intervention and creates a compelling value proposition for banks, financial services, and insurance institutions. By increasing operational efficiencies, banks can focus on creating additional revenue streams and provide greater value for the end customer.”

Keith Ginter, CEO at thirdstream, added: “Our goal is to help our clients continually improve the experience for applicants and account holders. Our partnership with Blanc Labs leverages our Platform-as-a-Service, where our clients will be able to spin up the services Blanc Labs has already deployed with leading financial institutions, reducing the reliance on employee reviews of documentation. For those already using the thirdstream platform as part of their onboarding process, Blanc Labs’ Intelligent Document Automation helps remove up to 80% of the manual document reviews and results in considerable improvement of the customer experience.”

The full press release can be found here.

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