In order to meet the increasing pressure from consumers to deliver quicker, easier mortgages, lenders have relied on an array of consumer-facing solutions to improve the borrower experience. But production costs continue to rise and companies who want to compete successfully in this environment need to adopt new technologies that drive significant business transformation from the back end.

Capsilon, a 2018 HW Tech100 winner, is driving that transformation with the launch of Capsilon IQ — a platform that combines Intelligent Process Automation with the company’s patented data recognition and extraction technology to automate up to 80% of the mortgage process, creating massive efficiencies at every stage of the mortgage lifecycle.

“We believe Capsilon IQ is at the heart of the next-generation mortgage operating model,” said Jim Obsitnik, Capsilon’s chief operating officer. “It transforms the way mortgage companies work, enabling them to create intelligent work experiences that help people be more productive and existing systems be more powerful.”

The next-gen mortgage operating model goes beyond just digitizing the mortgage process by using emerging technologies to make significant business process improvements that reduce cost, time and risk. This model is in line with the larger trend noted by a recent McKinsey study, which showed that 90% of enterprise companies will adopt intelligent processes by 2020 and move from people-powered to software-powered business.

Capsilon IQ automates manual, repetitive tasks, allows for better available data and recaptures 10+ hours per employee, each week. With a new Data Audit productivity app, Capsilon creates an Intelligent Work Experience where technology maximizes employee productivity and makes lenders’ existing systems more powerful.

“The app frees up staff time spent searching for docs and comparing data, eliminating the dreaded ‘stare and compare’ function that can take up 50% or more of an employee's time,” Obsitnik said.

Capsilon Data Audit eliminates time-consuming manual data comparison.

Key benefits:

  • Automate data comparison: See data mismatches for assessment and conditioning
  • Simplify review: Instantly see the portion of the document where data came from
  • Distribute clean data: Select the verified data source for use in your business applications

Big data is at the heart of the mortgage process. Companies spend a significant amount of staff resources managing documents and data, including intaking documents, extracting, validating, storing data and using that data for decisions. This impacts operational efficiencies across all channels; origination, correspondent and servicing.

“In this competitive environment, a data-driven automation engine is now a necessity,” Obsitnik said. “Capsilon dramatically reduces manual work and flags exceptions for human review to enable better, faster decision making – transforming the face of the mortgage lifecycle.”

Request a demo today and learn how you can say goodbye to ‘stare and compare.’