HW Tech100

Paradatec Tech 100 Mortgage

Paradatec is the mortgage industry’s leading provider of AI-based document analysis technology. For over 10 years, lenders, servicers, investors and service providers have increased their process automation with Paradatec’s document classification, data extraction, PII identification, redaction and other document evaluation capabilities. Used by three of the 10 largest U.S. banks and four of the 10 largest servicers, the Paradatec solution uses multiple AI-based and decision analysis components to quickly deliver reliable results throughout the lending lifecycle.

Paradatec’s AI-Cloud automated document analysis technology identifies over 850 specific document types. It uses AI-based machine-learning tools and pre-trained libraries to find and transform over 8,500 data points trapped in mortgage and real estate documents into actionable data. Already one of the most widely trusted document automation providers, in 2022 Paradatec achieved a new milestone with Version 8.0 of its enterprise software, which delivers complete document classification without human interaction.

Company Website:

Markets Served:

Loan Origination, Servicing, Secondary

Company HQ:

Cincinnati, Ohio

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

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