Background
Our client is one of the biggest mortgage providers in the US.
Firstsource partnered with them to:
- Create a strategy for automation of high volume, low complexity processes
- Increase productivity by reducing training time, improving associate utilization and reducing cost-to-serve
- De-risk operations by structuring a results-based contract
Business challenge
- Siloed and dated legacy processes and applications
- Manual errors and Adhoc associate processing
- High training lead time
- Segregating and indexing case loan documents into electronic data management system
- Multiple, unstructured formats and diverse document standards
- On-premise solution deployment due to data protection rules
Firstsource solution
Performed business process re-engineering to structure the process flow and standardize processes for automation.
Implemented best-in-class OCR capability backed by machine learning, enabling structured as well as unstructured data processing and 100% accuracy in data extraction.
Established universal automation control room for on-demand RPA deployment for any stage of loan processing. Deployed attended automation for exception management in the case of poor-quality documents that were beyond OCR’s capability.
Fully automated 77% of in-scope process steps and over 15% of the entire process, using assisted automation. The result: ability to support high volume fluctuations. The solution recently supported a 30% spike without any issues.
