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Mortgage Brokerage Solution

How We Use Intelligent Document Processing to Streamline the Mortgage Application Process

Do you still have a manual review process for mortgage applications? 

If so, then you know that it can take weeks to prepare, review, and make a determination on a single application

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

Once these are received, one of your staff members (or more!) has to manually read, sort, and classify each page. Then, every document needs to be cross-checked to ensure the information across the application bundle is consistent, accurate, and complete. 

If there is a mistake on just one of the documents, the entire process often has to start from scratch. The application can only be finalised once there are no errors. 

But even then, the process is not over yet. Your internal system has to be manually updated as well. It is only at this stage that you can submit the application to the lender.

Overall, the process is extremely labour-intensive and time-consuming — and it takes a toll on your bottom line.

The Challenge

To take your business to the next level and get ahead of the competition in an increasingly digital economy, you need to optimise the mortgage application review process as much as possible.

You want to remove the bottlenecks that are slowing you down and automate as many workflows as possible without compromising quality or customer service. 

In the past, even where the technology was available, achieving this level of automation was cost-prohibitive for many mortgage brokerages. The good news is that with Unitek’s Automation Experience Platform, that’s not the case anymore. 

The Solution

Smart Document and Data Extraction

Unitek’s intelligent document processing solution provides 99% accurate data extraction and analysis, even when handling handwritten, machine-typed, scanned, or unstructured documents. 

The solution can also standardise various document and data formats into one consistent standard. 

To make things even easier for you, our solution allows you to introduce new documents into the system with low to zero configuration. All you need to do is upload each document once. The technology will take it from there, processing and extracting the relevant information at any volume. 

Flow Manager and Process Automation

Thanks to Unitek’s automation solutions, it is easier than ever to automate your workflows. 

Our Automation Experience Platform integrates with virtually every internal system — including Google, Sage, Salesforce, and HubSpot, as well as legacy and bespoke software. 

Perhaps best of all, you don’t need to hire a team of developers to get our solutions up and running. Simply use the drag-and-drop automation builder to develop your own workflows from scratch or build upon one of the pre-built automations, all without writing a line of code. The user-friendly interface enables you to do it all on your own — from implementing and integrating the automations you need with your existing systems to maintaining and scaling them as your business grows. 

The Result

With Unitek’s no-code Automation Experience Platform, you can:

  • Quickly and easily automate up to 85% of your processes.
  • Upload and extract 100+ of documents in minutes using the Smart Capture Upload and Document Data Extraction features.
  • Automatically sort, classify, and cross-check each document while pulling relevant data without human intervention.
  • Accelerate the mortgage application review process from days and weeks to minutes
  • Integrate our solutions with virtually any legacy system.
  • Rest assured that all data is automatically updated in the Broker CRM.
  • Automate the lender submission process via an API, an automated email, or a process bot.
  • Enjoy a 100% painless and error-free mortgage application process.
  • Cut your operational costs by 75% and redirect resources to bigger-picture projects and more impactful initiatives.
  • Have your employees spend less time on tedious admin tasks and more on what matters most: customer service and revenue generation.
  • Make your organisation more efficient and drastically improve customer satisfaction. 

Want to Learn More?

Read more about our mortgage solutions or set up a free demo to see our Automation Experience Platform in action.

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