Paradatec AI-Cloud Automated Document Analysis Platform Now Integrated With Encompass by Ice Mortgage Technology

Paradatec Inc., a market leader in AI-based document analysis technology for the lending and real estate industry, announced that its integration is now built on the latest API Platform and available through ICE Mortgage Technology, part of Intercontinental Exchange, Inc., a leading global provider of data, technology and market infrastructure for lenders to accelerate decision-making through automated document classification.

The integration pairs Encompass by ICE Mortgage Technology with AI-Cloud, Paradatec’s AI-based document analysis technology. Using event-based triggers, AI-Cloud automatically retrieves documents for classification from Encompass, indexes them while adding meta-data such as versioning information, and returns them to the Encompass eFolder using the lender’s document names – all without human intervention.

Recommended AI: SAS Joins CESMII to Accelerate the Adoption of Analytics and AI

Paradatec provides reliable results quickly, so clients can focus on customer care instead of clerical processes. AI-Cloud supports the entire lending lifecycle, identifying over 850 specific document types and using machine-learning tools and pre-trained libraries to extract and transform 8,500 data points into actionable data.

“We’re delighted to make the power of Paradatec available within Encompass,” said Neil Fraser, Paradatec’s director of US operations. “For over ten years, Paradatec has been meeting the mortgage industry’s document classification, versioning and data extraction needs. Our clients rely on Paradatec to seamlessly support the automation in their systems of record, so integrating AI-Cloud with Encompass provides new opportunities for origination efficiency.”

Recommended AI: Millennium Physician Group and Navina Release Value-Based Results of Technology Implementation

[To share your insights with us, please write to sghosh@martechseries.com]