Vaultedge announces its integration with Encompass® by ICE Mortgage Technology™ to Offer OCR Capabilities to Users

Rhea-AI Summary

Vaultedge has announced its integration with Encompass® by ICE Mortgage Technology™, enhancing OCR capabilities for Encompass users. This integration aims to automate document processing for mortgage lenders, allowing them to automatically index loan documents, extract data, and ensure cross-validation within minutes. Vaultedge's software promises to streamline the loan processing workflow, enabling teams to prepare underwrite-ready files efficiently. Founded in 2015, Vaultedge's solutions aim to significantly reduce time and costs in mortgage processing.

Positive

• Integration enhances OCR capabilities for Encompass users.
• Automates document processing, improving efficiency in loan processing.
• Vaultedge's technology aims to save up to 80% of time and costs in loan processing.

Negative

• None.

DALLAS, July 21, 2022 /PRNewswire/ -- Vaultedge, a leading OCR  platform announced today that its integration is now built on the latest Encompass Partner Connect™ API Platform available through ICE Mortgage Technology™, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure to automate loan processing for mortgage lenders, especially using Encompass^® by ICE Mortgage Technology.

Vaultedge announces integration with Encompass® by ICE Mortgage Technology™ to Offer OCR Capabilities to Encompass Users

Vaultedge integrates seamlessly with Encompass to simplify document processing through its AI-powered document recognition and data extraction software.

Using Vaultedge, Encompass users can now automatically index loan documents, extract data, and cross-validate data across documents in minutes - making loan processing less cumbersome. The processing teams can get underwrite-ready loan files within Encompass without manually sifting through innumerable documents.

"ICE Mortgage Technology is an industry leader in shaping the digitization journeys of mortgage lenders. Vaultedge is a purpose-built OCR software to provide a seamless loan processing experience to Encompass users. The partnership between Vaultedge & ICE Mortgage Technology is a logical step towards our shared commitment to driving maximum efficiency & value for our end customers," said Murali Tirupati, CEO & Co-Founder, of Vaultedge.

Vaultedge was launched in 2015 to automate the loan boarding and closing process that aims to help mortgage lenders, servicers, investors board loans 5x times faster.

To learn more, please request a demo.

About Vaultedge

Vaultedge is on a mission to automate underwriting and due diligence for mortgages, and beyond. Vaultedge's AI-powered mortgage document processing software automates the splitting, indexing, data extraction, and validation of mortgage documents saving up to 80% of time & cost in Loan Processing, Post Close, and Loan Boarding. Vaultedge's software is used by leading mortgage companies to automatically process thousands of loans every day.

 

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SOURCE Vaultedge Software

FAQ

What is the significance of Vaultedge's integration with ICE Mortgage Technology on July 21, 2022?

The integration enhances OCR capabilities for Encompass users, improving the efficiency of document processing.

How does Vaultedge's technology benefit mortgage lenders?

Vaultedge's software automates document indexing and data extraction, aiming to reduce processing time and costs significantly.

What is Encompass® by ICE Mortgage Technology?

Encompass is a platform that automates loan processing for mortgage lenders, facilitating streamlined workflows.

When was Vaultedge launched?

Vaultedge was launched in 2015 to help automate the loan boarding and closing processes.

What savings can Vaultedge's solutions provide to mortgage processing?

Vaultedge claims to save up to 80% of time and costs in Loan Processing and related tasks.