Leading smart document capture and analytics platform provides banking and lending firms dramatic efficiencies in processing unstructured documents and under-utilized data
IRVINE, Calif. – May 1, 2018 – Ephesoft, an industry leader in supervised machine learning-based document capture and analytics solutions, announced today that it will demonstrate its smart document capture solutions at FinovateSpring 2018, which unites financial technology’s most innovative start-ups for a four-day symposium May 8-11 in Santa Clara, Calif. Ephesoft’s live demonstration will feature its time- and cost-saving document capture and analytics platform for mortgage processing.
“After the overwhelming reception and engagement we experienced at FinovateFall last year, we look forward to sharing significant enhancements and evolutions to our cloud-based smart document capture and analytics platforms that are yielding incredible productivity, accuracy and cost savings for mortgage processing,” said Ike Kavas, CEO and Founder of Ephesoft. “Beyond the time and cost savings provided by Ephesoft’s supervised machine learning software, the platform’s insights into previously unattainable data allow financial institutions to service customers faster, streamline workflows and improve compliance.”
Ephesoft’s live presentation focused on its mortgage processing solution is scheduled for the 11:15 a.m.–12:15 p.m. Demo Session 2 on Tuesday, May 8. With more than 600 different document types, mortgage processing is exceptionally resource-intensive for underwriters and loan processing teams. Ephesoft introduces much-needed innovation to this field, allowing for both the automatic classification of documents and the extraction of vital data within those documents. Enterprises running Ephesoft’s cloud-based mortgage processing solution have seen 80 percent decreases in deployment time compared to those using analog document capture services. Ephesoft provides core functionality which drives expenses out of the origination process, a crucial element in the pursuit of broadly offering no (origination) cost mortgage products, and enabling accelerated customer onboarding and adoption.
Throughout the show at the Ephesoft kiosk, the company will also demonstrate its Software-as-a-Service (SaaS) platform for all types and sizes of financial services organizations and departments, including banking, credit unions, insurance, account onboarding and accounts payable. Ephesoft’s supervised machine learning software can provide four-fold increases in productivity when organizations undergo digital transformation document capture processes. Other customers report that their loan processing time reduced to 5 minutes or less and labor savings are around 70% while doubling the volume of loans processed. Customers can also capitalize on their document business processes, gaining business intelligence using the industry’s first cloud-based Capture-as-a-Service platform, introduced by Ephesoft.
