Capsilon Expands Digital Mortgage Platform, Automating up to 80% of Manual Data Auditing and Processing Across Back Office

Capsilon Brings on Former Oracle Product Exec Steve Viarengo to Drive Investment in Big Data & Intelligent Process Automation

Capsilon, a leading enterprise SaaS digital mortgage solution partner to the mortgage industry, today announced the expansion of its digital mortgage platform through the addition of big data capabilities and a new set of smart tools designed to radically improve back office workflows and accelerate loan production. With this new data audit functionality, Capsilon can reduce manual data entry and speed up data auditing across the loan process, enabling companies to automate up to 80% of manual processing functions.

Leading the charge to develop Capsilon’s enterprise solutions is Steve Viarengo, who joins the company as Senior Vice President, Product Management. With more than 20 years’ experience, Viarengo brings to Capsilon a deep expertise in building enterprise software solutions that not only scale, but also drive significant process innovation. Viarengo was most recently Vice President Product Management at Oracle HCM Cloud.

“Capsilon has made an extensive investment in building its digital mortgage platform, which enables the development of new tools that use deep learning technologies and automated workflows. This is the first in a series of product rollouts intended to leverage Capsilon’s proprietary intelligent process automation capabilities, and I look forward to driving the next generation of tools that transform how mortgages are delivered,” says Steve Viarengo, SVP of Product at Capsilon.

While other companies have focused on solutions for targeted steps in the process, Capsilon seamlessly integrates all stakeholder workflows, from the borrower to loan officer and underwriter, to third party originators and servicers, to deliver the greatest cost and time saving improvements.

How Capsilon’s Digital Mortgage Platform Works

For every mortgage, Capsilon collects data from direct sources and documents. Its patented data recognition and extraction software distils this data into accessible, user friendly information at a speed and scale beyond any human capability, or any current legacy system. That, combined with Capsilon’s proprietary rules engine and intelligent datasets, powers its back office workstations so that each stakeholder can make smarter, faster decisions, at the right point in the process. With the new data audit capability, the platform can dramatically reduce manual processes across functions.

“By automating manual workflows and acting as a data clearinghouse, Capsilon ensures the best data goes into our loan origination system,” says Kevin Peranio, Chief Lending Officer at Paramount Residential Mortgage Group (PRMG). “This maximizes our investment in our existing infrastructure, improves the efficiency of our LOS and accelerates our loan production.”

Capsilon’s partners – mortgage lenders, originators and servicers – have realized massive ROI benefits of 300-500% from leveraging Capsilon’s technology, and today those benefits will increase even more with these new data auditing tools. For example, during underwriting, a manual 60-90 minute process to ensure data is accurate can now be done in minutes. With these new capabilities, Capsilon raises the bar on how mortgages are delivered.

“We’ve been working towards this level of process improvement since we launched Capsilon more than fourteen years ago,” says Sanjeev Malaney, Capsilon’s Founder and CEO. “We began by solving the problem of document management, which gave us a unique understanding of the complexity of data and how that information can be used to make mortgage decisions. It is this knowledge that has laid the foundation for this next evolution of productivity built on our digital mortgage platform. We now have the complete architecture to power a more streamlined way to deliver a mortgage, and it doesn’t stop here.”