Cleareye.ai teams up with Microsoft to help companies manage PPP loans

Cleareye.ai is collaborating with Microsoft, shifting its PPP Loan Forgiveness Processing Engine to Azure. The Los Angeles-based company's offering is based on Azure AI and handles tasks like rules reconciliation and document automation, to make sense of Paycheck Protection Program loans issued in the US due to the Covid-19 pandemic.

The offering is intended to reduce risks around PPP with tools that employ natural language processing, machine comprehension, computer vision, machine learning, and configurable rules.

"Microsoft’s cloud-based computer interface significantly streamlines our document understanding process to extract printed and handwritten text. Cognitive service containers are a game-changer for us, they give us the flexibility to bring our data close to where it gets processed for compliance, security, or other operational reasons. Quality of text extraction has significantly improved the accuracy of our downstream language prediction models, which in turn streamlined business processes, such as loan processing and trade finance document scrutinization. This collaboration with Microsoft will add tremendous value to our customers and prospect," stated Chandrasekhar Somasekhar, Chief Architect at Cleareye.ai.