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Solutions

Loan Origination Services

Overview
Ripcord provides loan origination services to the mortgage, personal and auto loans markets. This covers support of customer acquisition document management, account set up and data entry, compliance approvals workflow and processing integration. The wider services platform can manage case files like deal jackets and loan packets. Additional content services include data accessibility with multiple views, exporting data capabilities and API integration to other systems.
Who we serve and how to learn more

Are you a line of business leader, process owner or delivery leader of these vital services, we can help!

Do you drive Strategy, Innovation, Finance, Compliance or Operations within your company? 

Let’s talk and discuss how Ripcord can help.

Business challenges we address
In the midst of the present climate, consumer lending has continued to surpass lending prior to the financial crisis. Savvy financial services firms see a growing need to drive faster decision making while ensuring strong compliance and information content management across departments and customer engagement points. Having a better integrated content management system removes manual steps, understands context
Ripcord helps our customers:
  • Manage end to end digitization to business services enablement

  • Support improved customer targeting, segmentation, and pricing – allowing for Account data to be organized and used to identify unique borrower characteristics and behavior patterns

  • Digitize content at scale to enable competitive expansion into nontraditional lending, loan applications are being designed and used to capture critical data to assist lenders in underwriting borrowers, especially those with thin or nonexistent bureau data.

  • Easily access, manage content and data with deep contextual awareness supporting first-line quality control (QC) processes – digitization and automation are useful for reviewing data and documentation associated with QC processes, particularly when a high volume of judgmental analysis is needed to examine policies or other complex documents containing unstructured text.

  • Integrate services to connect with loan fulfillment services.

Source on the lending growth:Deloitte
Benefits and our differientiation
Greater efficiency

Ability to quickly digitize and access content using automated software, is vital when businesses experience an increase in remote working. As a whole, having less reliance on physical data storage and the inefficiencies this creates; instead relying on robotic digitization to allow for faster access and higher quality digital content that preserves and enhances the business content value.

Laser focus on adding value to your business outcomes

Deeper content understanding helps our clients drive business process improvement and informed cross functional decision making. In addition to classification, extraction and tagging content: smarter analysis and contextual awareness using ML and AI models allow for stronger processes and RPA enablement resulting in flexible export and transfer capabilities. The outcome is a better understanding and use of unstructured content in more consistent formats to allow for improved leverage of the content across the business.

Infusing Innovation

Our Integrated approach can be further enhanced with Ripcord’s Content Services platform Canopy creating a layered software approach enabling new services and microservices. Choosing this approach creates a strong digital native aggregated experience resulting in improved connectivity and business process enablement.

Our offering features
Digitization

Computer vision guided robots.

Offer automated digitization at scale managing high volumes lowering labor costs and increasing productivity.

High quality resolution images up to 1000 dpi.

Document assembly software using sensors to understand content structures.

Data Extraction

Best of breed OCR, classification tools to address different content structures automated using ML and AI models.

Reduction in manual interventions leveraging heavier automatic data extraction and system- based approvals.

On-going automation through ML for all core document and content types.

Content & Process Services

Centralized cloud first content services platform.

Focused on Customer Experience with strong data presentment and taxonomy features.

Integration Services.

Content lifecycle, compliance and simple approvals workflows.