Paradatec
Paradatec is an AI-based document analysis provider with over 30 years of experience, specializing in OCR/ICR technology and mortgage document processing.
Overview
Paradatec GmbH provides intelligent document analysis using AI, OCR, and ICR technologies for automated data extraction from structured and unstructured documents. Founded in 1988 in Braunschweig, Germany, the company serves mortgage, insurance, financial services, and government sectors. The platform recognizes over 850 mortgage-specific document types and extracts over 8,500 data points using machine learning and pre-trained libraries. Clients include three of the 10 largest U.S. banks and four of the 10 largest servicers. The company released AI-Cloud version 8.0 in April 2022, hosted on Amazon Web Services.
Key Features
- 850+ Document Type Recognition: Pre-trained models for mortgage and real estate document types
- 8,500+ Data Point Extraction: Comprehensive field extraction for mortgage documents
- OCR/ICR Technology: Text recognition from scanned images, PDFs, and emails
- AI-Based Classification: Automated document categorization using artificial intelligence
- Machine Learning Libraries: Pre-trained models for mortgage and real estate industry
- AI-Cloud Platform: Version 8.0 hosted on AWS infrastructure
- Land Register Analysis: Automated reading of German land register contents
- Structured and Unstructured Processing: Handles various document formats
Use Cases
Mortgage Document Processing
U.S. banks and mortgage servicers use Paradatec to automate loan file processing by extracting data from appraisals, title documents, and income verification forms. The system recognizes 850+ mortgage document types and extracts 8,500+ data points including loan amounts, property details, and borrower information for loan origination systems.
German Judiciary Land Register
The Bavarian judiciary implemented Paradatec's technology through Atos to automate land register processing. The system reads and analyzes scanned paper documents and PDFs from land registers, extracting property ownership, liens, and legal information for government databases.
Insurance Document Automation
Insurance companies in Europe use Paradatec for claims and policy document processing. The platform classifies incoming documents from multiple channels including mail, email, and fax, then extracts policyholder information, claim details, and coverage data for insurance systems.
Technical Specifications
| Feature | Specification |
|---|---|
| Core Technology | AI-based OCR/ICR |
| Platform | AI-Cloud 8.0 (AWS-hosted, released April 2022) |
| Document Type Recognition | 850+ mortgage/real estate document types |
| Data Point Extraction | 8,500+ mortgage document fields |
| ML Capabilities | Pre-trained libraries, machine learning |
| Document Sources | Scanned images, PDFs, emails |
| Document Formats | Structured and unstructured |
| Target Industries | Mortgage, insurance, financial services, government/judiciary |
| Clients | 3 of top 10 U.S. banks, 4 of top 10 servicers |
| Founded | 1988 |
| Experience | 30+ years |
Resources
Company Information
Headquarters: Braunschweig, Germany
Founded: 1988
Experience: 30+ years in intelligent document analysis
