Case Study

Faster AI-Powered Mortgage Origination Process for Major Bank

challenge

Painful Mortgage Application Process

A large bank’s mortgage origination department struggled with a time-consuming, labor-intensive application process. Reviewing and analyzing submitted documents took too long, leading to longer processing times and limiting how many applications Document Specialists could handle. The bank sought to automate the process to improve efficiency for both employees and customers.

solution

Automated Document Ingestion and Validation

Our team knew that AI would be the key to creating a solution that could ingest and comprehend various types of submitted documents, particularly bank statements. This solution would automatically extract relevant financial data from these documents, perform data quality validations and draft proposed communication to customers based on the analysis.

results

Faster and More Accurate Mortgage Origination Process

Our exploration of Generative AI for mortgage origination shows great potential for streamlining the process. By using AI to ingest bank statements, capture key data and validate it, we identified ways to significantly reduce processing times and increase caseload capacity. Automating data review and providing real-time feedback to the customer can speed up the process while improving accuracy and consistency. The project team also compared various Large Language Models (LLMs) to find the best solution for the bank in terms of accuracy, speed and cost.

Related Case Studies
See All Case Studies
Case Study
Nov 12, 2024

Ensuring 100% Data Accuracy for a Global Tech Company

Our client, a global technology company, needed to launch an internal revenue reporting system for ingesting and tracking federal revenue data. The project required coordination across a large number of teams, ERP systems and virtual desktops, with significant manual work needed to fix data issues. Learn how we helped.

Read More
Case Study
Nov 8, 2024

Scaling Dropship Operations to Increase Customer Satisfaction for Global Retailer

Our international clothing and lifestyle client saw increased demand for larger items, but their retail stores lacked storage space. They needed a dropship system that used their warehouses for storage and integrated with their existing processes and inventory system. Learn how we helped.

Read More
Case Study
Nov 5, 2024

Unlocking Actionable Intelligence Through Data Transformation

A global payments company needed insight into how marketers were utilizing email contacts so they could convert website visitors into active users for additional revenue growth. However, this exposed long-standing technical debt in their marketing systems. Learn how we built an upgraded platform so they could make better use of their data. 

Read More
Case Study
Nov 4, 2024

Modernized Market Data Platform Improves Customer Experience for Top 5 US Bank

A top 5 US Bank was operating with an outdated Mutual Fund Screener and Portfolio Tracker that lacked modern functionality and responsive design. This legacy system was hindering their ability to provide clients with an efficient and user-friendly portfolio management experience. Learn how we helped.

Read More
See All Case Studies
noun-arrow-2025160 copy 2
noun-arrow-2025160 copy 2
See All Case Studies