Intelligent Automation solution for Loan confirmation process in US Mortgage Funding Bank
10xDS helped delivering Intelligent Automation (IA) solution for a mortgage funding bank in United States for confirmation of loans from borrowers or brokers with the Bank’s database. It was an extremely time critical process which had to be run every five minutes.
The challenge the bank faced was that even minor changes in the file from Bank database could cause corruption of the file and warranted rework. Before automation, the process was highly manual for an analyst to double check the email from borrowers and brokers for confirmation.
The robotic solution checked and initiated confirmation of loans where the BOT runs the csv file with loan details on schedule every five minutes. It then conducts reconciliation loan data between email from borrowers and the bank file, and finally sends loan confirmation for matching data and alerts analysts about unmatched data. The solution significantly Increased efficiency and enabled adherence to the SLA.