More than 80%* of mortgage processes today continue to be manual and paper-intensive, relying on entrenched legacy systems. Mortgage companies need to process over two-years’ worth of historic documents to ensure the borrower can repay. Operational efficiency is an ongoing challenge with increasing costs and intense competition from digital-first FinTechs, while at the same time the mortgage processing industry is pressured by increasing regulations.
The good news: Mortgage processing is the perfect candidate for intelligent automation.
IQ Bot is the industry’s leading AI solution that enables extraction of data from semi-structured documents. Unlike traditional OCR, IQ Bot uses AI technologies to increase automation rate and enable end-to-end automation of mortgage processes.
*Harvey Spencer Associates
Process loan applications faster with IQ Bot’s intelligent document classifier. Decrease turn-around times and improve processing efficiencies.
Intelligently extract data from multi-page documents. Improve accuracy over time via built-in machine learning.
Reduce mortgage cycle times and customer touchpoints with intelligent automation. Discover the benefits of IQ Bot and RPA to achieve mortgage processing automation.
Automation Anywhere's Digital Workforce Platform comprised of RPA and IQ Bot can automate the mortgage process end-to-end
Document ingestion and management
IQ Bot intelligent document extraction can process multi-page loan applications and case files to extract data points of interest.
IQ Bot can quickly analyze thousands of pages of documents to predict risks. Predictive analytics provide key insights for specific mortgage use cases to assess risk to help you stay compliant.
Intelligently manage invoice and payment processing for escrow impound accounts and default servicing. Lower servicing costs with intelligent automation using AI and RPA.
"Our key objective, when we embarked on the robotics journey, was to free up our team members from routine, repetitive activities".