Digilytics™ RevEL for Financial Services, is an AI-enabled revenue elevation product built on the Digilytics™ platform. It leverages the AI capabilities of Digilytics™ platform to improve customer acquisition, customer engagement and customer attrition. RevEL for financial services harnesses external data and data from across the enterprise to plug on to any transaction platform to AI-charge revenue generation.

Improves customer experience & efficiency

SaaS based solution

Reduces time to offer & fund

Makes lending easy

Built on the most advanced AI technology

RevEL for financial services improves the broker/customer experience, accuracy, increases colleague’s productivity and reduces cancellations

New Old Way

What is first time right application?

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Over the years in mortgage origination, digitisation of paper documents has led to the growth of image data in volume, velocity, and variety. Organisations have been trying to generate insights from these data to improve the business processes and add value to the business. Nevertheless, almost every organisation is struggling to ingest and capture relevant data from the images due to high complexity and lack of tools to automate these processes. It is time consuming, and inefficient in most of the cases, and requires significant level of manual processing. It gets more difficult while handling non-standard or unstructured documents.

Creating value from the image data has become a time consuming and ineffective process leading to poor data quality and lack of insights.

An Intelligent Data Capture platform needs to handle a diverse input and technical parameters, and expectations of every client demands customisation, which needs to be implemented with quicker turn-around time.

Revolutionizing mortgage origination process, leveraging AI

Salient features of an Intelligent Digital, Mortgage Origination

  • Data capture and input from multiple sources
  • Data extraction capabilities for multiple languages
  • Integration into existing business process management systems
  • Document classification using NLP and text analytics
  • Intelligent automation and decision making
  • Secure and reliable system that protects interests of multiple parties
  • Document storage capabilities
  • Best in class user experience

Benefits

Underwriters can save time on repeated, redundant and mundane manual tasks like printing, physical transfer of files, piling up of files/cases with AI enabled data capture and entry into origination system.

Automatic validation and Day 1 underwriter requirements at time of submission, electronic annotation of case documents, simultaneous and parallel processing of case file with full versioning and audit trail enable a seamless lending experience.

With classification of cases into Standard and Accelerated, underwriters can speed up their lending process.

Algorithmic assignment of cases to underwriters to maximise SLA adherence with conversational support for case specific queries enable a fast-seamless experience.

Automated decisioning support for Accelerated cases and search on underwriter notes reduces the time and fosters quick decision making.

Achieve granular visibility of case status and bottlenecks with a near real-time visibility of status to customer / intermediary.

Real-time SLA monitoring, predictive alerts on SLA breaches document expiry and load balancing capability based on underwriter workload.

Integrates with the transaction systems, and can be easily used by underwriters with minimal training.

Modules

Bulk document-set reader

Instant validation of supporting documents (correctness & consistency)

Document versioning & duplication

Audit compliance, single source of truth

Digital annotation for notes reference

Connectors for third party data sources

Uberification of underwriting

Modelled case risk calculation

Intelligent case classification into multi speed queues

Automated case load balancing

Case rationale model explainability for compliance

AI-enabled Review-Understand-Recommend-Act (RURA) cycles

Real time visibility of case status, history and notes

Conversational chat interface for ad hoc queries

Real time notifications on pending tasks/documents

Visibility of case pipeline, pending tasks etc.

Real time predictive alerts and notifications on SLA breaches, doc expiry

Collaborate seamlessly across teams

OBVIAX
Blog: One-shot Learning AI technology in Mortgages Whitepaper: Accelerating Time to Offer in Mortgages Blog: Making First Time Right Applications in Mortgages

RevEL
for Financial Services

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