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 Unitek||With Unitek|
|Processing one mortgage application - 6 weeks||Automation 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 customers||With Unitek, you can process thousands of applications in minutes making your business and its costs scalable|
|66% of humans make regular errors in data processing||99% 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 branch||With Unitek, you can cater for the other 70% who transact online|
|Mortgage applications are incredibly capital intensive in terms of human hours and cost||Unitek can reduce this cost by 75% - saving thousands per application making the process scalable|