Case Study
Situation
Solutions Applied:
- AutoClassification
- Document Analytics
- Electronic File Processing
- OCR & Text Extraction
- Analytics & Data Mining
Challenge
That all changed with the Housing Crisis of 2008-09. The FDIC closed 465 banks between 2008-2012, compared with only 10 in the previous five years combined (a 45x increase). As of July, 2017, that number has now stands at 526 banks nationwide.
The FDIC’s requirements for immediate action around failed bank documents and files has resulted in a tidal wave of data to be processed quickly and accurately, lest the entire US mortgage financing system come to a screeching halt.
Solution
As a longstanding federal supplier, Valora is well-known to FDIC, and a familiar source of quality work product, technologies and staffing. Valora is also known for our ability to automate the metadata enrichment process with AutoClassification; allowing us to offer high quality work over large amounts data within tight timelines.
In partnership with the prime contractor, Valora was awarded a 10-year contract to assist the FDIC with current (and future) failed banks, and any document analysis assistance required.