Expedite Mortgage and Refinance Processing

Improve the end-to-end loan experience with Applica

While mortgages remain the primary way consumers finance a home, most applicants find the process drawn-out and incredibly stressful. According to the industry reporting, less than 10% of banks can currently handle loan products digitally end to end. And this slowness is one of the main factors behind non-banks and fintechs rapidly gaining market share in the lending space.

Cognitive automation can help bridge the technology gap at banks that need to expedite internal processes and improve customer service for mortgage lending and refinancing. In particular, Applica leverages sophisticated AI to accelerate internal processes by contextually interpreting documents faster and with more accuracy than a staff member reviewing the documents manually.

Mortgage processing case study


A regional bank runs a manual mortgage lending process that requires scrutiny and extraction of information from property sales contracts.


Manual extraction of information is slow, fallible, and requires significant human effort. As a result, the entire process has a negative impact on the customer experience. Additionally, existing automation options require too much engineering effort to deploy and maintain in a smaller organization.


Applica was deployed in a secure cloud and trained to extract the required information from property sales contracts, regardless of the layout or wording.


Deployment of Applica saved 80% of the human effort in this process and reduced the time required for mortgage decisions by 30%.

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