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Paradatec

HW Tech100

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Trusted by three of the 10 largest U.S. banks and four of the 10 largest servicers, Paradatec is the mortgage industry’s leading provider of AI-based automated document analysis technology — and it continues to grow. This past year, the company’s cloud-based document processing technology, AI-Cloud, was integrated with two of the leading LOS providers. For over 15 years now, lenders, servicers, investors and service providers have leveraged Paradatec’s document classification, data extraction, PII identification, redaction and other document evaluation capabilities to fuel their automation initiatives, drive efficiency and lower costs.

Paradatec’s Ai-Cloud automated loan indexing technology breaks down every loan into more than 850 specific document types and uses machine-learning tools and pre-trained libraries to find and transform over 8,500 data points trapped in mortgage loan documents into actionable data. Ai-Cloud supports processes throughout the entire lending lifecycle, including document versioning, PII data redaction, signature tagging/identification and more. 

The latest version of Paradatec’s technology, released last year, establishes a new industry baseline for automated document analysis by completely automating document classification without human assistance. The new version also offers expanded data extraction audit trails to provide context for extracted data and to enrich downstream automations, as well as API enhancements to make it easier than ever to rapidly integrate Ai-Cloud with a client’s existing systems.

Company Website:

https://www.paradatec.com/

Markets Served:

Servicing, Secondary, Cross Markets and Origination

Company HQ:

Wilmington, DE

3d rendering of a row of luxury townhouses along a street

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