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Use Case: How Unitek Processes A Mortgage Broker Customer Application

Introducing Unitek's Document Data Extraction & Flow Manager

What makes Unitek's Intelligent Document Processing unique?

Manually processing financial documents is time-consuming, expensive, and prone to errors. Statements or applications may contain dozens or hundreds of pages with various templates and inconsistencies.

This outdated process really weighs on customer-facing financial service teams. They often struggle to balance the trade-offs between accuracy, speed, and cost when processing critical information and extracting key data because they don't have the technology to manage the process at scale.

Unitek’s AI platform for Intelligent Document Processing is trained to extract key customer data from large sets of complex documents. Our precision OCR supercharges your workflow with intelligent tools that balance speed, accuracy, and cost whilst delivering customer outcomes in record time. 

Unitek offers a revolutionary new way to process documents while staying true to the intrinsic structure of the original content. Our process includes optical character recognition, natural language processing and machine learning algorithms alongside our proprietary AI platforms' "training" on millions of financial documents so you get an entirely automated experience without the need for further human intervention.

Flow Manager and Process Automation

Unitek’s workflow automation makes it easier than ever to automate your mission-critical workflows. Our platform integrates with virtually any legacy system and, best of all, does not require a team of coders to implement.

You can develop your own automated workflows from scratch or build upon one of our pre-built flows to automate processes in the mortgage application process.

We make it simple with our Drag & Drop Automation builder that allows you to maintain and scale with your existing systems.

Before & After: Processing Mortgage Broker Customer Applications

Unitek's Mortgage Application Process Flow

Before & After Unitek

Prior to Unitek, the manual review process for a mortgage application took weeks.

The applicant would have to send 100+ pages of documents including proof of address, multiple payslips, bank statements, and more.

Once received, an employee would have to sort and classify each document. Every document would have to be cross-checked to ensure the information across all the documents was consistent and accurate.

If there was a mistake on just one of the documents, the entire process would essentially have to start from scratch.

Once there were no errors, the application could be finalised. Then the internal system would have to be manually updated. It was only then that the broker could submit the application to the lender. 

With Unitek’s no-code automation, 85% of the process is now automated. Once documents are digitised, our AI quickly gets to work.

  1. First, it reads the documents using Optical Character Recognition (or OCR)
  2. Next, proprietary tools like Machine Learning (ML) and Natural Language Processing (NLP) – are used to analyse and classify the data.
  3. Then the results are cross-checked to ensure they make sense and correct any potential errors.
  4. Finally, depending on automation rules, the data can be reviewed by your team in an easy-to-read format – making it far easier for you to spot missing data or errors.

Unitek’s technology can be applied to virtually any legacy system allowing the data to be automatically updated in the Broker CRM. Unitek’s Flow Manager technology automates the lender submission via an API, automated email, or process bot.

This makes the process entirely painless and error free. Not only that, but the processing time is cut from hours to minutes.

Benefits of Unitek's Automation Solutions

Beyond cutting the processing time from hours to minutes, Unitek’s approach to the mortgage application process has cut costs by 75%. The cost savings give organisations the opportunity to allocate resources to bigger picture projects and more impactful initiatives.

Team members, once responsible for the tedious tasks in the mortgage application process, now have more time to spend on big-picture projects.

At the end of the day, Unitek’s no-code automation not only makes organisations more efficient, but also improves overall customer satisfaction.

Do you want to learn how Unitek can transform your business? Request a demo with one of our automation experts!

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