The challenge of processing digital documents
Many companies in the financial services and healthcare industries rely on information obtained from documents to perform key operation activities. To approve a new loan, for example, residential mortgage
lenders collect hundreds of pages of document images.
Other industry participants, such as mortgage insurers, warehouse lenders, correspondent investors and wholesale lenders receive this pre-assembled file of digitized documents from a lender. They must evaluate the content quickly and thoroughly in order to issue an approval decision before their competitors do.
Each transaction has a lifetime value of thousands of dollars, but is critically dependent on a seemingly low value task. Thus, document processing can impede a company’s operating model for new business.
Download the pdf to learn more.