Vaultedge's AI-powered document recognition and data extraction software interfaces easily with Encompass to ease document processing.
FREMONT, CA: Financial institutions are increasingly conscious of the need to improve their operations in various areas to increase efficiency, decision speed, and production and improve the client experience. Numerous software solutions in the commercial lending sector fulfill the loan origination and credit assessment needs of both traditional and non-traditional lenders. One of the leading providers of data, technology, and market infrastructure, ICE Mortgage Technology, an Intercontinental Exchange, division revealed Vaultedge, one of the leading OCR platforms, has upgraded its integration to use the most recent Encompass Partner Connect API Platform. This platform is especially useful for mortgage lenders utilizing Encompass by ICE Mortgage Technology.
"ICE Mortgage Technology is an industry leader in shaping the digitization journeys of mortgage lenders. Vaultedge is purpose-built OCR software to provide a seamless loan processing experience to Encompass users. The partnership between Vaultedge and ICE Mortgage Technology is a logical step towards our shared commitment to driving maximum efficiency and value for our end customers," says Murali Tirupati, CEO, and Co-Founder of Vaultedge.
With the help of Vaultedge, Encompass users can quickly extract data from loan papers, cross-validate it against other documents, and automatically index loan documents, streamlining the loan processing process. Without spending hours sorting manually through countless papers, the processing teams may obtain underwrite-ready loan files within Encompass.
Vaultedge effortlessly interacts with Encompass to streamline document processing through its AI-powered document identification and data extraction tools. The goal of Vaultedge, introduced in 2015, is to speed up the loan boarding and closing process by 5x for mortgage lenders, servicers, and investors.
