Document Verification in Cascade

Cascade’s Document Verification feature leverages advanced optical character recognition (OCR) technology to validate key eligibility and compliance information based on collected documents, photos, and supporting materials. This tool enhances accuracy, accelerates onboarding, and ensures adherence to regulatory standards, all while safeguarding customer data.

Key Capabilities

• Eligibility Rule Validation
  Verify specific eligibility items directly from submitted documents such as:
  • Name and expiry date on driver’s licenses or ID cards
  • Key information in employment verification letters
  • Custodian acceptance letters for documents
  • Any other document-specific eligibility criteria

• OCR Technology for Accurate Data Extraction
  Using OCR, Cascade automatically extracts relevant information from images, reducing manual effort and minimizing errors. This includes details like names, dates, account numbers, or other critical data points.
• Supporting Backup Servicing
  Beyond eligibility, the system also extracts necessary data for backup servicing activities, such as verifying account details, authorization signatures, or other key information needed to manage the facility effectively.

How It Works

1. Document Submission
   Upload the required documents, photos, or images as part of the onboarding or ongoing review process. All data is securely transmitted and stored in accordance with local laws and regulations regarding Personally Identifiable Information (PII).
2. Automatic Data Extraction & Validation
   Cascade’s OCR engine processes the documents to extract relevant data and matches it against predefined eligibility rules or key operational criteria. The system employs industry-leading encryption standards to protect all data during processing and storage.
3. Results & Action
   Upon analysis, a detailed validation report is generated. If the data does not meet the required acceptance criteria, the system seamlessly initiates manual interventions with full audit trails to resolve issues, ensuring there are no delays in verification or compliance processes. This approach maintains a smooth, compliant workflow and provides a comprehensive record of actions for audit purposes.
4. Secure Data Management
   Throughout the entire process, all documents and data are encrypted using the highest security standards. Access controls ensure that only authorized personnel can view sensitive information, preserving data confidentiality and integrity.
5. Continual Monitoring
   Regular re-verification of documents, such as expiry dates or updated approvals, ensures ongoing compliance and validity within a secure and compliant environment.