20 Apr, 2020· read

Mortgage and Loan Applications (end to end)

As shopping around for loans/mortgages becomes easier and customer loyalty harder than ever to secure, speed of service has become a key differentiator for banks and building societies. Automating mortgage and loan application processing is the only way for lenders to keep pace with changing market requirements.

Web Mortgage Loan Applications

Overview

Our mortgage/loan application pre-built framework can be used to assess applications for completeness, fraud and suitability, as well as process them.

It scans applications for necessary keywords and the completion of fields. Where information is missing or unclear, our virtual agent can request clarification from customers directly.

Once the required information is supplied, the framework uses industry guidance and institution-specific risk levels, to assess the mortgage/loan application for suitability.

Machine learning AI is used to profile applications against previous fraudulent claims so that trends and patterns can be identified.

The framework can be adapted to work autonomously, accepting or declining applications, or it can act with supervision, providing recommendations for the application with a rationale.

Key Benefits

  1. Improve Customer Service
  2. Increase profitability
  3. Reduce human error

For more information on this use case please get in touch

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