FDIC · FDIC – 15 · record R1050

AI Assisted Data Collection

Federal Deposit Insurance Corporation · Division of Depositor and Consumer Protection

Overview

Development stage: DeployedSource: c) Deployed – The use case is being actively authorized or utilized to support the functions or mission of an agency.
High-impact designation: Not high-impactSource: c) Not high-impact
Impact justification: Not reported
Start date: 2025-01 (month precision)Source: 01/2025
Withheld from public reporting: NoSource: a) No

Mission

Topic area: Information Technology
Operational functions: Translation and transcription Derived by keyword rules; see methodology

Problem the AI is intended to solve

The current process to extract structured data from bank provided PDF documents of consumer loan applications takes FDIC personnel a significant amount of time to manually transcribe data from PDF loan applications, leading to delays, high error rates, and increased costs. The AI solution is intended to automate data extraction, reducing transcription errors and enabling faster, more accurate collection of loan application data.

Expected benefits

The FDIC will more effectively and efficiently utilize its examination resources by reducing manual components of data collection, reducing data transcription error rates and increasing speed of data collection.

System outputs

The output is a data file of extracted data (csv, text file, json file) from consumer credit reports required to conduct examination analytics for compliance and fair lending reviews.

Technology

AI classification: Computer visionSource: Computer Vision: AI that processes and interprets visual data (e.g., images and videos).
System name(s): Microsoft Power Apps
Custom-developed code: Yes
Public source code: Not reported

Sourcing

How it was built: Developed in-houseSource: b) Developed in-house
Vendor (as reported): Not reported
Vendors (standardized): None on the standard list

A vendor is the supplier named by the agency. It does not identify the underlying model or AI technology.

Data and privacy

Involves PII: Yes
Privacy Impact Assessment: www.fdic.gov ↗
Authorization to Operate: Yes
Demographic features: k) None of the above
Training and evaluation data: Consumer loan applications and credit reports from banks for supervised learning and creation of bank specific data collection models
Federal Data Catalog: Not reported

Governance

0 of 8 minimum-practice questions answered. A blank answer means the agency reported nothing; it does not mean the practice is absent.

Pre-deployment testingNo answer reported

AI impact assessmentNo answer reported

Independent reviewNo answer reported

Ongoing monitoringNo answer reported

Operator trainingNo answer reported

Fail-safeNo answer reported

Appeal processNo answer reported

User and public consultationNo answer reported

Potential impacts and how they were identified

Not reported