The Loanbridge system integrates standardized workflows across operations and marketing teams to improve efficiency. AI and machine learning tools are utilized to enhance servicing and origination processes, specifically through servicing exception implementation. This automation decreases human error and enhances accuracy in document processing, particularly with handwritten documents. The result is a nearly 50% reduction in costs per boarded loan and a 67% decrease in ACH errors, showing improved operational readiness and reliability.
Our Loanbridge system is bringing that same methodology to our operations team on the origination side that we're using on the servicing side, and then we've been working incredibly hard, principally with our retail sales force, both our NFS team and our call center team, to take their workflows and standardize them.
With the machine learning tools we have and the evolution of OCR, we can offload the stare-and-compare components to the machine, focusing the employee on exceptions.
The machine never takes a vacation, it never gets tired, it never gets angry. Yes, it makes a mistake, but it makes the same mistake over and over again, allowing for error visibility.
We've seen our ACH errors go down by 67%, so we're getting two-thirds better at handling that process.
#ai-integration #operational-excellence #efficiency-improvement #document-processing #machine-learning
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