KMWorld recently awarded Ephesoft Transact for Mortgage as a Trend-Setting Product for 2018. Ephesoft Transact is a leading enterprise content capture and data discovery solution in the cloud or on-premise. Organizations use Ephesoft’s platform to automate any document-based business processes, improving accuracy, increasing productivity and reducing costs. Ephesoft Transact turns unstructured content into actionable information for decision-makers worldwide using our patented supervised machine learning technology.
“In designating products to KMWorld’s 2018 list of Trend-Setting Products, we looked for solutions that are inventive as well as utilitarian, that break new ground, and that help organizations achieve their knowledge management goals and the digital transformation they need to thrive,” said Tom Hogan, group publisher of KMWorld. “The offerings on our list result from innovation, imagination, and evolution. They reflect the ingenuity of the developers and the diversity of invention.”
“I’m thrilled that Ephesoft Transact is recognized as one of KMWorld’s Trend-Setting Products once again,” said Ike Kavas, CEO at Ephesoft. “We take pride in incorporating our customer’s data intelligence and capture challenges with our vision, R&D and engineering. Our goal is to keep ahead of the curve using the latest tools to help our customers drive success.”
The new Ephesoft Transact for Mortgage solution is a cloud-based modular platform pre-trained to recognize and classify more than 600 mortgage document types, dramatically accelerating processing speeds for mortgage lenders who opt to bundle the Ephesoft Transact platform with this tailored classification solution.
As the first vertical-specific product from Ephesoft, Transact for Mortgage enables underwriters and mortgage loan processors to upload loan documents into a batch class, which automatically and accurately classifies and separates documents, before validating and exporting them into loan origination systems like Ellie Mae and Mortgage Cadence, along with others. The system automatically recognizes where each document starts and stops within large multi-file PDFs, splitting up individual document types. This new out-of-the-box mortgage software eliminates the hefty professional services fees or internal IT investment required to manually categorize appraisals, lease agreements, tax returns and hundreds of other document types found in mortgage applications.
Large and mid-sized banks, lenders and other mortgage processing organizations using Ephesoft Transact for Mortgage will see configuration and deployment times for an entire enterprise reduced by an estimated 80 percent, from several months to just weeks. Lenders, loan officers and mortgage processors using Transact for Mortgage will enjoy improved accuracy and efficiency to close more loans within days, instead of weeks or months.
Ephesoft Transact for Mortgage provides unprecedented workflow efficiency by automatically determining which documents are needed to process loans and which are ancillary, such as the cover pages, blank sheets of paper and invoices often attached to appraisal documents. Ephesoft does the heavy lifting, removing extraneous content and focusing on high-value documents that can be categorized into batches such as lease agreements, tax returns, loan applications and disclosures. Transact for Mortgage also primes relevant documents for data extraction and business insight providing customers with the option to apply Ephesoft’s patented supervised machine learning for broader use. For more information about Ephesoft’s scalable Software as a Service (SaaS) platform and Transact for Mortgage, visit www.ephesoft.com/solutions/mortgage/.
Ephesoft will be at KMWorld’s Enterprise Search & Discovery conference November 6-8 in Washington, D.C. Please contact us at info@ephesoft.com if you would like to schedule a meeting or demo at the show.
