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RPA for the USA Mortgage Industry

by sol-admin

This is a summary of a case study where AntWorks’ client leveraged RPA for mortgage automation.

The client is a leading provider of business services and technology for the U.S. mortgage industry, it is headquartered in New Jersey and has roughly 1,200 employees worldwide. It provides services and solutions support at every stage of the mortgage lifecycle with automation and software, outsourcing and project management, compliance, and education.

The client’s OCR platform struggled with the volume and variability of the mortgage document formats which varies from state to state and required constant intervention. The complexity included capturing multi-page loan documents, credit reports, tax statements, and more. After 3 years of pursuing an automation program of its own, the client made a conclusion that traditional OCR players could not handle their unique data challenges, namely they weren’t able to automate the ingestion and digitization of documents.

ANTstein Square, a fully integrated automation platform, provided a straight-through process solution to review and process mortgage loan documents. It helped this customer achieve:

  • 90% faster execution of report generation
  • almost 100% improvement in turnaround times
  • 99.99% of data accuracy confidence scores

Find more details in this video: