Alex Levi, VP of Sales, Jill Jones, VP of Marketing, Steve Butler, Founder & President, Percy Johnson, VP of Solutions and Peter Piela, Director of Solution Development
Significant efforts made by leading players in the second wave of AI automation is giving birth to transcending mortgage technology solutions.
FREMONT, CA: AI Foundry releases its mortgage document model, adding functionality to its Cognitive Business Automation Platform. As an extensive set of standard mortgage document types and common variants, incorporating the latest in AI, machine learning and machine vision, it delivers a higher level of automated classification and data extraction capabilities. With this model, the mortgage industry will be facilitated to use AI to replace multi-week manual processes.
“In addition to the document model, the platform contains a powerful rules engine that allows clients to create intelligent robotic agents to monitor completeness, integrity, and compliance automatically. The rules engine enables users to make actionable inferences that trigger remedial events early in the document-processing and exception-handling phases, thereby reducing overall cycle time and the cost of remediation,” remarks Peter Piela, head of solution development at AI Foundry.
Banks and lending organizations are rushing to embrace the latest automation technologies in the hope of delivering the next wave of productivity, cost savings, and enhancement in customer experience. Banks are now reinventing their mortgage technology stack to include various disruptive technologies—including the second wave of AI and automation—for improvements. To capture this opportunity, banks must take a strategic approach to technology and business, where AI Foundry can be the right solution partner.
It leverages the best possible technology and data intelligence to transform a bank’s mortgage process and then offers an agile mortgage platform that streamlines the manual processes to create a digital-first office. “With the Internet, speed, information, and customer experience come together to form the holy grail. Our Actionable Intelligence technology organizes customer’s loan application information and documents to enable quick decisions,” exclaims Steve Butler, Founder, and President of AI Foundry. Its agile solutions eliminate the technology gap with its integration.
Ranking among the Top 10 Lending Management Solution Providers by Banking CIO Outlook, AI Foundry aims to expand its position in different areas of the financial service market, including commercial lending and small business banking in future.
