That’s the conclusion from a new White Paper published by Areal.ai.
LOS ANGELES, CA, USA, August 16, 2023/EINPresswire.com/ — AREAL.ai, the no-code automation platform for the title and mortgage ecosystem that makes it easy to reliably extract data from complex documents and integrate data with existing tools and workflows, has published a new White Paper, entitled, “A Final Solution to the Mortgage Automation Problem.” The conclusion is that AI offers the promise of finally making real mortgage automation possible for lenders, allowing them to reach their goals.
“Good technology exists in the industry today, but a complex mortgage business has made it impossible for any technology platform to completely replace humans. That’s costing lenders too much today in every department,” said Argun Kilic, Areal’s CEO. “Fortunately, new AI-powered technologies are allowing lenders to complete their work without having to maintain today’s high staffing levels. Even better, these new tools work with the legacy technologies that lenders have already purchased, protecting them from loss on sunk technology costs.”
AREAL understands these new tools and has been delivering AI-powered products that are saving lenders and title companies hundreds of thousands of dollars each month. The key, according to Kilic and the company’s new paper, is that any new technology must be capable of delivering in four specific areas:
— Smart task automation
— Built-in data authentication
— High processing speed
— A flexible API-based architecture
Anything less than this will not be capable of removing human staff from the process and will kill any efficiency the lender hoped to see.
On the other hand, AI is capable of filling this role. When it does so, lenders see a clear return on investment in a very short time frame.
“Lenders know quite well where the friction in their current origination process is still causing them trouble,” Kilic said. “All of these processes tend to be paper-heavy. Human staff are required to identify the documents and pull data from them. This is no longer necessary.”
Kilic says Areal clients are currently using its solution point to a 3X to 5X return and forecast hundreds of thousands to millions in annual savings by letting AI deal with the paper and tasking the human staff on more
To learn more about AREAL AI’s innovative solutions visit the company online or email Bill Hajjar. To get a copy of the new White Paper, click here.
AREAL.ai is a no-code automation platform for the title and mortgage ecosystem that makes it easy to reliably extract data from complex documents and integrate data with existing tools and workflows. Its goal is to provide end to end document automation and integration in order to save clients resources, time and money as they work through the filing process. AREAL.ai has been serving clients nationwide since 2020. Its headquarters is located in Los Angeles, California. Contact the AREAL.ai team via email or visit the company online at https://areal.ai/.