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From regulation and compliance to investor guidelines, data accuracy undoubtedly must be at the core of everything the mortgage industry does. Speed and cost must also be properly balanced against it to succeed. Our director of technology discussed this in a 2018 blog post, “The Iron Triangle of Data Extraction.”
LoanLogics certainly puts the importance of this message at the forefront of our sales and marketing. “Change your logic, automate first.” It is the mantra we champion to help the lenders, servicers, insurers and investors across our industry achieve their efficiency and profitability goals. But it’s not just a mantra.
Over the past few years, the data and doc processing space has become increasingly noisy with new and existing providers touting the expansiveness of their capabilities. Unfortunately, when the rubber meets the road many lenders are left holding the bag to train their vendor’s automation to meet their needs. Lengthy implementations that extend months, sometimes even altogether failing, do not deliver the quick results lenders need. OCR or templated based doc processing solutions fall short on identifying document types and variations accurately.
For more than a decade, LoanLogics has built up our resume to hold some of the industry’s largest correspondent investors, lenders and GSE, Freddie Mac, as clients for their data and doc processing workload. This experience was a result of highly trained machine learning and data extraction programs that have managed an immense volume of these client’s workload day in and day out, over the past ten years. There’s proven power in the automation.
In recent years, further amplified in 2020, these same standards of speed, accuracy and cost have become increasingly necessary for in-line, real-time doc processing workloads. We even discussed the many emerging use cases for it in last week’s blog post, “Use Cases for In-Line, Real-time Mortgage Document Processing.” All of this is why we took our expertise in this space and developed LoanLogics IDEA™ OnDemand, a cloud-native doc processing digital assistant, which launched earlier this year.
Because we believe in its capabilities so strongly and want to help the industry quickly cull through all the other solutions out there, we allow lenders to Try Before You Buy. Along with tremendous level of accuracy for document separation, indexing and data extraction, IDEA OnDemand is:
- Easy to use with an intuitive web-based exception management UI
- Competitively priced for performance
- Quickly implemented with little training needed
- Very flexible with its file delivery/ industry standard outputs
Take doc processing technology into your own hands, literally. Use your documents and your users to experience IDEA OnDemand for yourself.
To start your FREE TRIAL now, simply fill out this form here and someone from our team will contact you to get you set up with your credentials to try it!
