what does ocr stand for in finance

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What does OCR stand for in finance?
OCR is the acronym of Optical Character Recognition. PDF document and image formates that contain are not -searchable. By using OCR they can be converted it to -searchable documents.
What is OCR?
Optical Character Recognition s 3monly known as OCR 3 is a technology used for the mechanical or electronic conversion of . The extracted information may be electronically displayed edited and stored which can be further used for cognitiveputing and machine learning. Simply put OCR technology is used to read and extract the data from image documents and then further used for pattern recognition. The old-school OCR technology wasn fully automated and couldn operate properly with manual supervision. The proper functioning required strict rules and templates. Still these solutions couldn process con and had no self-regulating mechanisms; hence making manual gance mandatory. The traditional OCR works quite well when it deals with documents whose formats and templates were pre-loaded into the system. However thises with a significant problem of flexibility. It means for every of document a new template model has to be designed and loaded into the system. This is quite time-consuming and costly processes similar to the manual data population. Therefore artificial intelligence is being incorporated into OCR toe up with a flexible and reliable automated process.
What does OCR stand for in law?
The term OCR users normally use for legal matter management when they are referring to software that is capable of handling a variety of legal documents. Such software packages have OCR as an integral technology and are therefore capable of capturing printed from scanned s of documents will remain unavailable to people who run a search for it in legal management packages. OCR for legal matter management performs a vital function and cannot be done away with. As more legal firms have digitized their databases and archives software that has OCR for legal matter management has be a cornerstone in many law firms.
What does OCR stand for in economics?
OCR can stand for a lot of things that can be used in economics. My best pick is Official cash rate (OCR). This term is used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans tomercial banks.
What is ARM in Finance?
Adjustable Rate Mortgage I personally do not like it for the following reasons Adjustable rate mortgages are sometimes sold to consumers who are unlikely to repay the loan should interest rates rise. In the United States extreme cases are characterized by the Consumer Federation of America as predatory loans. Protections against interest rate rises include (a) a possible initial period with a fixed rate (which gives the borrower a chance to increase his annual earnings before payments rise); (b) a maximum (cap) that interest rates can rise in any year (if there is a cap it must be specified in the loan document); and (c) a maximum (cap) that interest rates can rise over the life of the mortgage (this also must be specified in the loan document). Interest rate errors and overcharges In September 1991 the Government Accountability Office (GAO) released a study of Adjustable Rate Mortgages in the United States which found between 2% and 25% of the ARM loans out of the estimated 12 million at the time contained Interest Rate Errors. A former federal mortgage banking auditor estimated these mistakes created at least US$1 billion in net overcharges to American home-owners. Such errors occurred when the related mortgage servicer selected the incorrect index date used an incorrect margin or ignored interest rate change caps. In July 1994 Consumer Loan Advocates a non-profit mortgage auditing firm announced that as many as 18% of Adjustable Rate Mortgages have errors costing the borrower more than $5 in interest overcharges. In December 1995 a government study concluded that 536% of all Adjustable Rate Mortgages in the United States contain an error regarding the variable interest rate charged to the homeowner. The study estimated the total amount of interest overcharged to borrowers was in excess of $8 billion. Inadequateputer programs incorrectpletion of documents and calculation errors were cited as the major causes of interest rate overcharges. No other government studies have been conducted into ARM interest overcharges.
What does ACH stand for in finance?
In banking ACH stands for A utomated C learing H ouse which is a network that coordinates electronic payments and automated money transfers. ACH is a way to move money between banks without using paper checks wire transfers credit card networks or cash.
What is a financial CTA?
A Commodity trading advisor ( CTA ) is US financial regulatory term for an individual or organization who is retained by a fund or individual client to provide advice and services related to trading in futures contractsmodity options and swaps. They are responsible for the trading within managed futures accounts.