RPA helps leading US mortgage provider stay ahead by improving associate productivity

Background

The client is a leading mortgage provider in the United States with over one million customers, and a strong presence across all 50 states.

Business challenge

The client faced multi-pronged challenges in its day-to-day lending operations. Predominantly manual processes led to error-prone, adhoc processing and segregation of loan documents. In addition, siloed, legacy processes and applications resulted in poor visibility and rampant inefficiency. Multiple, unstructured formats and diverse document standards further compounded the situation.

The client was looking to automate high volume, low complexity aspects of the loan set-up process to increase productivity, cut training time, improve associate utilisation, and reduce cost-to-serve. It chose to partner with Firstsource given its deep domain expertise and proven track record.

Firstsource solution

Firstsource implemented FirstSmartomation – robotic process automation (RPA) solution that helps organisations integrate multiple systems, create new interfaces with automation, and reduce process complexity. The solution combines Firstsource’s extensive mortgage domain expertise and knowledge of operational excellence with RPA to reduce processing time and improve productivity. The Firstsource solution helped:

  • Structure process flow and standardize automation through business process re-engineering.
  • Enable robust OCR (optical character recognition) capabilities backed by machine learning to extract structured as well as unstructured data with 100% accuracy.
  • Establish a dedicated universal automation control room for on-demand RPA deployment for any stage of loan processing.
  • Deploy attended automation for exception management of poor quality documents that were beyond AI’s processing capability.

Business impact

250%

Improvement in associate productivity


100%

data accuracy across processes


70%

Automating labour-intensive process – a checklist with 132 steps


50%

FTE reduction

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