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O2I Helped a Mortgage Company in the US by Automating Loan Quality Investment (LQI) Process

Case Study on Helping US Mortgage Company by Automating LQI Process

The Client

The client is top US-based mortgage company with domestic and international clientele.

Requirements and Challenges

The client audited credit reports and undisclosed notification as part of Loan Quality Investment (LQI) process. However, this process which involved sensitive data and the client was keen to eliminate multiple stages of human intervention to mitigate human induced errors. The client contacted Outsource2india for modelling a solution that could automate the Loan Quality Investment process.

O2I's Solution

Three artificial intelligence BOTs were developed by O2I for automating the LQI process. The 3 stages of LQI were automated as follows -

  • The first bot logged into secure third-party data provider to check on undisclosed debt notification. This step was replicated in all the open application within the process
  • The Second bot initially performs quality checks on loan applicant's credit report followed by secondary checks for inconsistency in the debt to income ratio
  • Notifications are sent to authorized personnel based on the results from quality checks
  • Upon successful completion of quality checks, further credit monitoring by the bureau is stopped by the third bot

Outsource2india's Advantage

The project was completed with remarkable accuracy and O2I successfully met all requisites in the SLA. The highlights of the results are -

  • Manual FTE was reduced by 50%
  • Processing time per Loan Document was reduced by 98%
  • Number of applications processed per day increase by 70%
  • Accuracy in Transactions enhanced by 100%

Outsource Cognitive Process Automation Services (CPA) to O2I

Outsource2india's Cognitive Process Automation (CPA) Service is a highly dependable service that is already being utilized by many clients globally. In conjunction with Robotic Process Automation (RPA), our services help businesses become less dependent on manual LQI process. The wide range of applicability coupled with high reliability of CPA services are quickly helping our clients to realize tangible benefits.

O2I is a leading provider of Data Science Services that harnesses the power of AI, Cognitive computing, Machine Language and much more. Our expertise in automation technology and solution modelling enables clients to enhance their rate of work with precision. Our team consists of specialists who can interpret your challenges accurately and deliver intelligent automation solutions that are affordable.

If you have areas within business that requires CPA, get in touch with us and let's get started.

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