Empowering businesses with data driven automation by unlocking Efficiency for Mortgage Broker and Enhancing Customer Experience

The Challenge

In the fast-paced world of Mortgage Brokers, administrative tasks consume over 40% of their time, with increasing regulatory demands likely to exacerbate the burden. Central to the challenge lies the complexity of documentation, with a single applicant necessitating a minimum of 12 supporting documents. Unfortunately, content, format, and quality exhibit significant variations, and most data is semi or unstructured.

The consequences are significant:

• Accuracy Issues: Manual extraction and data keying/re-keying introduce inaccuracies, hindering the mortgage process's efficiency.
• Time-Consuming Back-and-Forth: Incorrect or missing documentation leads to protracted interactions between advisors and customers, consuming valuable time.
• Customer Dropouts: Over 20% of customers abandon the process due to subpar customer experience, resulting in lost opportunities.
• Scaling Barriers: Incremental fixed manual labour costs impede scalability, restricting growth prospects for Mortgage Brokers.

The Solution

In response to these challenges, we developed a mortgage platform which is underpinned by our Intelligent Document Processing (IDP) capability, designed to revolutionize mortgage processes for the Mortgage Broker industry.

How We Help:

• Automated Data Extraction: IDP effortlessly captures and interprets semi and unstructured data, slashing manual effort and ensuring data accuracy.
• Enhanced Customer Experience: Swift access to accurate documentation streamlines interactions, delivering a seamless experience for customers and advisors alike.
• Minimized Customer Dropouts: With improved efficiency and a seamless process, customer dropouts decrease significantly, leading to heightened business opportunities.
• Scalability and Cost Efficiency: IDP obliterates incremental fixed manual labour costs, facilitating scalable operations and unlocking growth potential.