Title Closing

CoBot

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

Bot Profile

Efficiency

Complexity

OCR & Robotic Process Automation

Technology

Outcomes

Velocity

Productivity

Cost to Close

Benefits

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

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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

Resource Type