Infographic: How Automation Transformed the Mortgage Application Process

mortgage processing

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How Unitek's Automation Solutions Transform the Mortgage Application Process

It is no secret that document heavy processes, like processing mortgage applications, lead to human errors, slow delivery, and unnecessary costs. Employees are often too busy working through these tedious tasks to focus on more impactful work. The COVID-19 pandemic only made this worse, as the industry experienced a 55% increase in mortgage applications and refinancing requests.

 

Fortunately, the capabilities of intelligent automation have helped remedy these common problems. Unitek’s no-code automation solutions speed up the mortgage process and reduce costs while producing error-free results.

 

The chart below highlights how companies with Unitek’s no-code automation have revolutionised their mortgage application process. With Unitek, companies are able to meet their customers’ needs faster at a lower cost and without error.

Without UnitekWith Unitek
Processing one mortgage application - 6 weeksAutomation cuts that time to less than a day
With COVID, mortgage applications increased by 55% putting a strain on teams to speed up applications and slowing delivery of service to customersWith Unitek, you can process thousands of applications in minutes making your business and its costs scalable
66% of humans make regular errors in data processing99% accuracy in processing (3000% less likely to produce an error in data input than a human)
30% of customer mortgage applications happen face-to-face in branchWith Unitek, you can cater for the other 70% who transact online
Mortgage applications are incredibly capital intensive in terms of human hours and costUnitek can reduce this cost by 75% - saving thousands per application making the process scalable









Click on the image to download the infographic with the information above. Curious to learn how Unitek’s automation can transform your business? Click the button below to organise a demo with one of our automation specialists.


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