May 21, 2020

Envoy Mortgage outlines digital journey to better education in Business Chief USA

Bizclik Editor
2 min
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(Norwich, UK, 11/13/2019)

In this month’s Business Chief USA magazine, Dan Mulberry, CIO at Envoy Mortgages, discusses the company’s digital transformation through innovative technologies such as AI, machine learning and OCR.

Mulberry tells the publications how the national retail mortgage lender, which operates in 49 states in the US and originates approximately US$3bn annually, has shifted from older, core technologies that are inherent to the sector to innovative solutions that enable it to adapt for the future. He explains: “One of the main issues faced within the mortgage industry is the manual processing of multiple statements and third-party data, opening up the possibility for human error. We want to eliminate glitches to increase the integrity of data with automation.” The mortgage industry, Mulberry notes, is yet to truly modernise in line with other sectors, but in implementing its own digital journey Envoy aims to remain at the forefront. 

To achieve this Mulberry has adopted a forward-thinking mindset with regards to technology. He outlines how the business plans to implement innovative solutions such as AI and machine learning for its back-end processes. Recently deployed technologies include Cloudvirga, an advanced point of sales system, as part of a two-fold modernisation process of integration and automation. Once fully operational, the system will give customers a powerful self-service option, allowing Envoy to automate pricing, rate locks, generate disclosures and payment of appraisal fees, removing these manual tasks from loan originators and making it easier for them to conduct business. 

Mulberry explains that, looking ahead, the company intends to implement new capabilities including intelligent workflow, real-time data analytics, blockchain and automation, so that it becomes a true leader in its field.

Read more in the magazine.

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