Mortgage loan processing

Streamline mortgage loan processes by transforming your high-volume document-intensive processes.

In times like these, marked by lower interest rates, economic slowdown, reduced staff, and a rise in loan modifications and forbearances…the backlog of loan files for lenders will become overwhelming.

Automate loan application and approval to improve customer experience

ABBYY helps lenders streamline mortgage loan processes by transforming these notoriously high-volume document-intensive processes into easy and efficient flows, using Process Intelligence, target scanning, OCR, and verification of all loan documents at the point of entry via a single web-based interface. A typical loan folder consists of various document types with an average of 100-200 pages in total. As operations in this area are so document-intensive, streamlining the loan application and approval process with automated document classification and extraction is key to improving the customer experience. Captured data is transferred to a scoring system that provides information on a client’s credit worthiness and makes recommendations whether to authorize the loan, ensuring the accuracy of the client’s information for determining loan terms.

Features & benefits

Mobile capture allows customers to deposit checks from anywhere through input devices including smartphones and tablets. Automated and centralized processing of checks with verification against customer information reduces error-prone and slow manual processing and speeds time to payment.

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Discover your loan processes to identify key touchpoints with people and documents, where processing bottlenecks occur, where automation works, and opportunities for streamlining document input and verification.

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Natural Language Processing (NLP) technology provides highest level of entity extraction accuracy, especially from complex from unstructured documents like real estate contracts, lease agreements, and titles.

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No installation at the branch or customer is required; Financial document scanning and validation can be done anywhere via a web-based interface.

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Use a single platform for capture and process automation of mortgage loans, opening of accounts, credit card application processing, and more.

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Reduce turnaround and processing friction by eliminating manual labor (sorting, classifying, searching and handling).

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Capture at the point of service with mobile and low-code browser apps, with contactless centralized processing.

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Classify and extract data from any form or document.

BLOG ARTICLE

Financial Services - Ready for Business in the Year of COVID Transition

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