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Title Closing


Title Closing

Using robotic process automation to extracting and updating information from title docs into title system

Bot Profile

Efficiency: high
Complexity: high
OCR & Robotic Process Automation
Technology

Outcomes

Velocity
Productivity
Cost to Close

Benefits

 

  • 80% automation with reduction in loan processing time with improved accuracy

 

Problem Statement

The Closing document creation & updating needs to access multiple applications & websites which is time consuming and is prone to human error

Solution

Digital employee extracts & classifies information from 4 different title documents and updates 82 different fields and performs 175-200 data validations to generate the final CD document in the desired title application system thereby improving accuracy

Tech Specs

Title Closing CoBot is an attended digital employee powered by IQ Bot OCR and Automation Anywhere RPA suite and can be easily integrated with any title system.  It has been implemented on widely used title production software and title workflow platform

Expertise

  • Extracting & classifying information from title documents received from client application
  • Updating information in the workflow software application
  • Generates and saves final closing disclosure document
  • Identify and trigger exception routing to human processors