Automating Loss Mitigation Claims Process Resulted in 80% TAT & 3X Productivity Increase
Industry:
Financial Services
Region:
United States
Technology:
Automation Anywhere
The Business Challenge
Headquartered in Albion, New York, the client is a leader in post-default claims management solutions. The client wanted to implement Intelligent Automation to overcome their manual workflow resulting in inaccuracies and errors due to the documents’ complex nature and verification processes. They were looking to improve productivity and drive growth.
The Solution
- Developed Intelligent BOT to download documents, read them, prepare applications for processing, validate the applications for quality check and submit them to HUD.
- Built the BOT with RPA and AI technologies by leveraging IQ BOT capability for intelligent document processing work.
- Created the BOT to automate 60+ manual steps to improve workflow efficiency.
The Benefit
- Our solution helped improve turnaround time by 80%.
- Productivity increased by 3x.
- Developed an implementation framework with easy extension to other Mortgage Lenders.
