According to Forrester Research’s latest data, the RPA software market is expected to reach a staggering $6.5 billion by 2025 and the RPA-related services around $16 billion and these promising statistics are majorly the result of continuous innovations in robotic process automation.
Visionet assisted US-based Title and Settlement Services Company, Timios, in revamping its cloud infrastructure by leveraging Microsoft Azure. The engagement brought a generational shift to its business in terms of security, flexibility, and future growth possibilities.
Timios was running their operations on legacy infrastructure which was built on-premise and prone to serious cyberattacks.
They wanted to migrate to the latest, secure, and a scalable system.
In today’s evolving mortgage ecosystem, advanced technology is a must-have to successfully process huge volumes of loan applications. On average, the time taken to close loans is 47 days, according to Ellie Mae Origination Insight Report Data. However, consumers expect much quicker turnaround times.
Visionet Uses Proprietary Technology to Deliver HUD-1 Statements in Thirty Minutes or Less Cranbury, NJ, June 18, 2013 – Visionet sets a new best practices standard for delivering complete and accurate HUD-1 statements in under 30 minutes. This 30-minute window applies to even the most complex HUD-1 statements, and includes both automated processing as well as full manual review, delivering accuracy of 99.9%. Basic HUD-1 documents can be prepared in approximately 5 minutes.
The impact of the COVID-19 pandemic on the banking and financial services industry is yet to manifest in its entirety. While the early stages of the pandemic brought about a fundamental shift in the way in which the industry functions and serves its customers, most businesses resorted to new-age digital technologies to navigate this disruption.
Many of the established players are embracing technologies that come naturally to fintech plays. What are these technologies? And how are they impacting the banking landscape?
Artificial Intelligence [AI]
Residential Mortgage lending has been a very volatile business. There are times when lenders need to deal with extremely high volumes. This puts immense pressure on existing teams. Besides, the mortgage industry also works in a paper-intensive environment. On average, there are often more than 25 types of documents for retail mortgage loan origination process, over 15 in correspondent lending, and over 10 in mortgage servicing rights. Handling the burden of documents in huge volumes and that too manually is a cumbersome process and is prone to errors.
Banks are increasingly using machine learning to power their operations and solve challenging business problems. However, adoption is not widespread across their other departments. To achieve this, they must address several technological and organizational challenges. This white paper provides insights into how machine learning can enable banks to optimize the vast amount of data that they already possess, transform their customer service and risk management practices, and enhance operational efficiency.
Union Budget 2021 Expectations for MSMEs: Budget 2021 should make efforts to enable the development of MSMEs by providing them access to the required credit and adopting the latest technologies.
Digital transformation is the use of digital technologies in the areas of businesses or culture to change or develop new strategies or procedures to attract more customers.
A visionary with ability to scale businesses through team development, leadership inculcation, organizational culture development, and knowledge management.
Artificial Intelligence (AI) is revolutionizing the Fintech industry profoundly. Fintech, as the term suggests, deals with the digital transformation of the finance sector. Advanced technologies can open new revenue streams and remodel business operations for this industry.