Prioritising IDP is one of the most intelligent decisions you can make

It’s time to simplify and accelerate document processing and verification.

IDP is the key to solving the major issues impacting financial institutions today, from onerous manual handling of documents to constant regulatory changes and ballooning customer expectations.

It’s your solution for freeing up resources and ensuring a frictionless and more transparent customer experience.

And with the efficient management of customer data in real-time, and at speed, now one of the most important variables in your workflow, being able to extract, categorise and validate data as part of your loan application process is ever more crucial. Especially as consumers – and institutions – insist on a faster time to yes.

 

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The magic of IDP

Using artificial intelligence (AI), machine learning (ML), optical character recognition (OCR) and natural language processing (NLP), IDP enables financial institutions to capture, classify, and extract data stored in documents submitted by borrowers. It turns unstructured and semi-structured data into a structured format which can then be absorbed by other applications within the banking system.

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DiVA will boost your competitive advantage and simplify your workflow as it:

Automates and digitises manual tasks for back-office processing staff

Reduces rework and the number of human touchpoints to improve employee and customer experiences

Reduces the risk of policy gaps through AI enforced policy rules

Lowers costs per loan application

Automates living costs, liabilities and income analysis

Increases data accuracy and less rework

Provides data driven insights for business intelligence from performance statistics

DiVA has the smarts

Sandstone’s Digital Intelligent Verification Assistant (DiVA) IDP solution gives financial institutions the automation and speed you need to digitise processes, enabling you to process higher volumes of applications with your current FTE.

It drastically reduces time to process loan applications from hours to minutes, helping you achieve loan approval targets.

  • Specifically designed for lending to support end-to-end loan processing with self-service configuration
  • Custom-built AI enforces policy rules for document verification
  • Easy integration via APIs and scalable SaaS
  • Lays the foundation for straight through processing and helps increase conversion rates
  • Cross validates data via third party services to increase data accuracy and reduce potential document tampering and fraud

 

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key features idp

Calculate the value and FTE savings IDP can bring your business

Take full advantage of the power of AI to automate your origination assessment, all while supporting regulatory compliance. Simplify and accelerate the document verification process to free up resources, reduce human error and ensure a frictionless and more transparent customer experience.

To find out what potential FTE savings you could derive from the implementation of an IDP platform, simply enter the current number of lending applications currently experienced per month in the field provided. 

Give your mortgage processing staff a stress-free experience all whilst supporting regulatory compliance. 

Lending Documentation Scenario

Data verification manual processing

1hrs / application

Transaction analysis manual processing

2hr / application

DiVA - data verification and transaction analysis

20mins

FTE savings per year

1hrs / application

Our Intelligent Document Processing product

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