Indecomm Launches Idxgenius: A Turnkey, Zero-Touch Mortgage Document Indexing And Data Extraction Solution

(MENAFN- PR Newswire) EAST BRUNSWICK, N.J., Oct. 24, 2024 /PRNewswire/ --
Indecomm, a leading provider of mortgage technology solutions, is proud to announce the launch of IDXGenius, a turnkey, zero-touch automation solution designed to streamline document indexing and data extraction processes for mortgage operations.

Despite the widespread availability of automated indexing and data extraction technology, lenders and servicers continue to face significant challenges. Many still struggle with correctly naming, versioning, and organizing documents into the right folders , leading to inefficiencies that can ripple through the entire mortgage process. Challenges such as:

• Multiple Versions of Documents: Key mortgage documents, like the 1003, LE, and CD, often generate multiple versions, but automated versioning continues to be a pain point.
  
• Exception Handling : Automation solutions frequently categorize documents into generic "miscellaneous" folders, leaving staff to manage the overflow manually.
  
• Downstream Impacts: Misclassified or unversioned documents cause delays in quality control, servicing, and secondary transactions, adding complexity and cost.
  
• Operational Overhead: Without a true turnkey solution, lenders are forced to maintain large teams to manage document processes, driving up costs.

"It's clear that advancements in technology haven't fully addressed these core challenges in the mortgage industry," said Rajan Nair , CEO of Indecomm. "IDXGenius is a game-changer, offering unparalleled accuracy and speed in automating the indexing, versioning, and data extraction of critical mortgage documents-leading to a smoother and more efficient mortgage lifecycle."

IDXGenius: A New Era of Automation

IDXGenius was developed in response to market demand for a reliable, intelligent automation solution. Built on IDX, the robust document and data extraction engine that powers Indecomm' s Genius suite, IDXGenius has proven its ability to transform document-heavy mortgage processes like underwriting, loan boarding, and MSR transfers. IDX is the winner of coveted "Best Innovation leveraging AI and ML" from Amazon Web Services

By automating these processes, IDXGenius eliminates manual intervention and ensures faster, more accurate document handling for a variety of document types, including bank statements, pay stubs, W-2s, 1099s, and tax returns. The solution combines machine learning, business rules, and AWS technologies, enhanced by Generative AI, to unlock critical data and streamline mortgage operations.

Key Benefits of IDXGenius:

• Turnkey, Zero-Touch Automation : IDXGenius automates document organization, including indexing, naming, and versioning, with minimal manual intervention required.
  
• Automation at Scale: Reduce operational costs and eliminate errors by automating document workflows from start to finish.
  
• Accurate Data Extraction : A pre-mapped library of mortgage documents ensures precise identification and extraction of essential data points for workflow optimization.

Add-On Features:

• Versioning: Easily access the initial and latest versions of key documents, ensuring accurate version control throughout the mortgage lifecycle.
  
• Attribution: Assign detailed attributes to documents, such as labeling a bank statement for enhanced clarity and efficiency.
  

By eliminating silos and enhancing operational efficiency, IDXGenius empowers mortgage lenders, servicers, and investors to streamline document workflows while focusing on high-value tasks like decision-making and borrower engagement.

To learn more about IDXGenius and how it can transform your mortgage operations, visit indecomm/product/IDXGenius .

About Indecomm
| Founded more than 25 years ago, Indecomm blends intelligent automation with deep mortgage banking expertise to deliver groundbreaking Genius mortgage innovations that help businesses optimize operations and achieve competitive advantage. Backed by a 1500-strong global workforce, Indecomm' s automation-as-a-service approach benefits mortgage organizations, enabling them to offer better borrower experiences by streamlining middle and back-office operations.

Indecomm takes an automation-first approach, partnering with large and mid-sized lenders, servicers, mortgage insurers, and title companies to create efficiencies at every phase of the mortgage lifecycle. Specifically, Indecomm products and services leverage robotics process automation (RPA), supervised automation, and machine learning to tackle the industry's most complex operational challenges. This is what we call Genius@Work.

Media Contact:

Robyn Mahoney

512-434-0129

[email protected]

SOURCE Indecomm

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