A large mortgage firm faced disruption due to shorter mortgage approval cycles with higher compliance requirements leading to higher operational cost. The 300+ document formats offered complex technology challenge. Spectar helped automate the process by introducing intelligent image recognition technology and innovative data validation algorithms while automating feeds from 20+ external banking interfaces.
The project resulted in reducing the firm’s SLA from 2+ days to less than a day for 90% of the transactions at one-third of the cost with real-time compliance reporting.
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