Using Today’s Technology to Better Serve Customers and Improve Efficiencies

In the mortgage industry, the advent of emerging technologies presents a significant opportunity to deliver a friction-less customer experience, improve operational efficiencies and position lenders and servicers for sustainable growth and competitive advantage. Consolidated Analytics helps mortgage businesses prepare their operating models for digital transformation (DX), and helps identify and prioritize optimal technologies based on unique business needs.

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Digital Transformation in Mortgage Origination and Servicing

Across the entire mortgage spectrum, there is a significant opportunity to leverage digital capabilities to create efficiencies across people, process, technology and data. Consolidated Analytics evaluates and organization’s technical and operational capabilities to identify both immediate and long-term opportunities. Our digital transformation solution combines operational transformation and governance, risk and compliance (GRC), with systems analyses and process automation roadmapping. Our process includes:

  • Thorough operational and technical analyses to identify current and future state, capabilities, capacity, operational gaps, and resource skill sets

  • Process and automation roadmap that identifies areas for optimization and establishes specific projects and solutions that enable clients to reach digital transformation goals

  • Granular cost analysis at the task level enables prioritization of recommended projects based on bottom line impact and improvements to customer experience

“Businesses which have invested heavily in DX over the last 2-3 years are already reaping the rewards in terms of faster revenue growth and stronger net profits compared to businesses lagging in DX initiatives and investments.”
— Craig Simpson, research manager with IDC's Customer Insights & Analysis group

Digital Transformation in Mortgage Requires Industry, Technology, Data and Process Expertise

The mortgage industry is complex and nuanced, which is why digital transformation is so critical. However, because of the complexity, digital transformation requires a more holistic approach. Key areas of opportunity in mortgage include, but are not limited to:

Straight-Through Processing (STP)

STP expedites transaction cycle times and ensures compliance by streamlining processes, reducing redundancies and manual tasks. We evaluate business processes and platforms to identify needs for Straight-through Processing.

Intelligent Optical Character Recognition (OCR) and Data Extraction

By leveraging intelligent scanning and data extraction or utilizing a next generation of computer vision, we help businesses improve scanning accuracy and integrate the data directly into smart workflows.

Data Analytics

We enable mortgage businesses to develop a master data management (MDM) strategy and the analytics surrounding mortgage data to drive smart workflow and bottom line impact.

Cognizant Workflow

By using task-oriented, smart workflow, lenders and servicers can keep loans on the optimal fulfillment path. Consolidated Analytics analyzes your existing workflow to develop a more intelligent and intuitive workflow that business users can confidently embrace.

Robotics Process Automation (RPA)

Robotics Process Automation (RPA) allow mortgage businesses to significantly boost efficiencies by applying rules-based, task-level automation to identify and resolve manual bottlenecks in the mortgage process.

Business Process Management (BPM) and Decision Management Notation (DMN)

We provide mortgage businesses with the foundation for better case management and structured decision logic to improve workflow and process automation.

Artificial Intelligence (AI), Machine Learning (ML) and Blockchain

There are a range of ways mortgage lenders and servicers can ulitlize AI, ML and Blockchain but these require careful evaluation in the context of your business. Consolidated Analytics can help assess your unique business needs and identify solutions that are realistic and applicable.