Solutions

Mortgage Processing

We have implemented Mortgage processing solutions for large and mid-size lending institutions. They have ranged in size from hundred's to thousand's of packages per day for first mortgages, home equity/line of credit, wholesale and broker origination.

All solutions have consisted of the following:

  • Ingestion - Some lending institutions only receive documents as paper from the client, loan officer or broker, while others allow documents to be faxed or emailed. Regardless of how it arrives, it needs to be scanned, imported or loaded and converted, cleaned up and orientated properly.
  • Document Classification - Lending institutions have similar mortgage forms, versions of standard forms, their own forms, appraisals from independent vendors, numerious variations of financial statements, deeds from numerous municapalities and many other documents. These documents are classified via the following techniques: Information received with the document, Automatic Recognition by image features, Keyword Recognition, Barcode Recogniton or Manual Recognition.
  • Data Captured and Validation - Depending on the level of automation, data may only consist of the required metadata to store the document or include the primary fields needed to process the document and aid in the underwriting process. Data may be valdated for data type, length or by reaching out to other systems for validation. These systems typically have unique interfaces depending on the business systems.
  • Manual Intervention - Some lending institutions strive to be ultra-efficient and have the solution perform 90% or more of the work, while others will accept 70% to 80%.
  • Image and Data Exports - Lending Institutions utilize various Repositories and Origination Systems. The images, metadata and document data is stored in each via standard or custom EMC Captiva modules which interface directly with the specific systems or via custom web service requests passing the data.
  • Statistical Exports - Statistical collected through the document and packet processing are exported to databases for evaluting system processing, process improvement, and user performance.
Solutions

Order Processing




We have automated order processing for large corporations. These systems consisted of ten's of thousands of orders daily and consisted of the following:

  • Ingestion - Orders are received via mail, and sometimes via fax and email. Regardless of how it arrives, it needs to be scanned, imported or loaded and converted, cleaned up and orientated properly.
  • Document Classification - The documents consist of an Order form and its prior versions, correspondence, payment documents such as checks or money order, and sometimes the justifying documents (prescription). These documents are classified via the following techniques: Information received off the document (MICR), Automatic Recognition by image features, Keyword Recognition, Barcode Recogniton or Manual Recognition.
  • Data Captured and Validation - The client account information and the order data needed to process the order are automatically captured or manually entered. Credit Card information may be received on the order form. If this is possible, PCI compliance must be met. The account information may be valdated to determine if these is an existing or new client, has changed in address or other information, or other tasks which need to be addressed. Accessing the forfillment systems to validate the account and update information.
  • Check Processing - If a check or money order is received, it needs to be processed and added to the submission file sent to the bank for clearing.
  • Manual Processing - Sometimes, the company requires manual review of correspondence or documents with additional comments or requests to ensure the order is processed properly and the customer is satisfied. These are placed into queues so representatives may work them.
  • Image and Data Exports - The images, metadata and document data are stored in the repository and forefillment system standard via standard or custom EMC Captiva modules.
  • Statistical Exports - Statistical collected through the document and packet processing are exported to databases for evaluting system processing, process improvement, and user performance.
Solutions

Lockbox and Payment Processing




We have automated payment processing for corporations and financial institutions of various sizes. These systems consisted of thousands to hundreds of thousands of payments per day. These systems have consisted of the following:

  • Ingestion - Payments are received via mail, opened and prepared for scanning. Ideally the standard payment coupon is included and placed as the first document from the contents of the envelope. If it is not included, a separator is typically inserted. Envelopes are sometimes used as the separator if the scanner can recognize it. During scan the MICR is captured from included check or money order.
  • Document Classification - The payment coupon is recognized, the checks, money orders and envelopes are known from information received from the scanner and all other documents are considered correspondence.
  • Data Captured and Validation - The client account information and expected payment amount are captured from the invoice. If credit card information is on the payment coupon, it is captured. If a check or money order is included the amount is captured.
  • Check Processing - If a check or money order is received, it needs to be processed and added to the submission file sent to the bank for clearing.
  • Manual Processing - Correpsondence is reviewed by representatives to ensure the payment is processed properly and the customer is satisfied.
  • Image and Data Exports - The images, metadata and document data are stored in the repository and business systems are updated standard via standard or custom EMC Captiva modules.
  • Statistical Exports - Statistical collected through the document and packet processing are exported to databases for evaluting system processing, process improvement, and user performance.



Solutions

Mail Room Processing




We have implemented mail room solutions where the mail is scanned, and based on the information on the envelope or the documents, they are sent to the proper systems for storage and processing by knowledge workers. These systems consisted of thousands to hundreds of thousands of payments per day. These systems have consisted of the following:

  • Ingestion - The mail is opened and prepared for scanning, sometimes including date time stamping. Some corporations accept Fax and Email documents as well. The mail is separated by the envelope, inserted sheets or transmission for fax and email.
  • Document Classification - The documents are classified based on image features, barcodes and keywords. They are grouped into packets based on the envelope, fax or email or the presense of key documents.
  • Data Captured and Validation - Metadata, routing data, and workflow data are extracted or entered for the documents and validated.
  • Check Processing - If a check or money order is received, it's data needs to be processed, sent to the finance team or added to the submission file sent to the bank for clearing.
  • Manual Processing - Packets with no clear routing, will be sent to users to review and assign routing information.
  • Image and Data Exports - The images, metadata and document data are stored in the repository and business systems are updated standard via standard or custom EMC Captiva modules.
  • Statistical Exports - Statistical collected through the document and packet processing are exported to databases for evaluting system processing, process improvement, and user performance.
Solutions

Other Solutions




We have implemented solutions for the following documents. These are similar to the ones above, consisting of the same steps with different forms, data, validations and business rules.

  • Applications for Insurance, Loans, Housing, Jobs, etc. and their assocated documents
  • Claims and their associated documents (forms, reports, estimates, statements)
  • Trailing documents of various types: Appraisals, Deeds,
  • Servicing documents (allocation changes, change of address, change of beneficiary, etc)
  • Invoices Processing. This can include the following documents for full reconcilliation :Invoice, Purchase Order, Bill of Lading, Inventory, Payment Discremptency Forms
  • Student Records
  • Medical Records



Solutions

Benefits




The solutions we have contributed to, have provided the following benefits for the client:

  • Elimination of paper based processes.
  • Allow paper, email, fax and electric documents to be processed in a similar and consistant manner.
  • Allow documents to enter the systems and reach knowledge workers swifter.
  • Validate data at the point of capture to ensure accurate data.
  • Use the data and documents to initiate the workflows or sync up with processes waiting on them.
  • Improved the efficiency of data entry staff by reducing data entry and automating validation.
  • Allowed automatic actions to occur based on the documents and data received, missing required documents and missing information.
  • Automated submission of checks to the bank via ACH processing.
  • Compliance with PCI requirements.
  • Allowed for proper staffing by utilizing captured metrics to show efficiency and volume trends.



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