Brainware Intelligent Capture Facilitates End-to-End Process Automation for Lenders

Template-free capture solution complements content services to create a completely digital lending processes

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May 22, 2018, 09:00 ET

CLEVELAND, May 22, 2018 /PRNewswire/ -- Hyland, a leading content services provider, introduces its new capture solution for financial institutions – Brainware for Lending. Brainware for Lending is a template-free extraction solution that accurately captures and classifies loan documents and integrates with line of business tools to validate extracted data and fill missing information before delivering data to loan origination systems. By delivering greater transparency, lending institutions can process loans faster, with fewer resources, and improve interactions with borrowers.

Brainware is an intelligent capture solution that eliminates the need to manually sort and key data from even the most complex, diverse document types. Lending documents and packages are consistently captured, classified, sorted and validated; reducing processing time and allowing lenders and servicers to close loans faster, lower cost per loan, and ensure regulatory compliance.

As the lending industry becomes increasingly complex, banks, lenders and loan servicers experience higher demand from customers for fast lending experiences. At the same time, financial institutions have a greater focus on managing regulatory requirements, which increase per-loan costs and slow processing times. According to the Mortgage Bankers Association, the average loan includes more than 500 pages and costs lenders over eight thousand dollars.

Brainware for Lending utilizes optical character recognition (OCR), intelligent capture and extraction functionality to significantly reduce human touch points and virtually eliminate manual document classification. Coupled with OnBase, Hyland's content services platform, it provides financial institutions with an end-to-end digital lending process.

"Brainware intelligent capture is an advanced technology that will fundamentally shift the way financial institutions process and service loans," said Steve Comer, director of financial services sales at Hyland. "As a template-free solution, Brainware for Lending gives financial institutions the power to improve the consistency and quality of loan information throughout the loan life cycle, while reducing the cost of validating data."

Leveraging Brainware for Lending, financial institutions will:

Better support compliance initiatives and requirements
Decrease manual labor and per-loan processing costs
Create a competitive advantage by closing loans faster

To learn more about Brainware for Lending, and achieving measurable ROI within lending processes, attend Hyland's upcoming 'Streamline lending from Origination to Servicing' webinar or visit Hyland.com/Brainware.

About Hyland
Hyland is a leader in providing software solutions for managing content, processes and cases for organizations across the globe. For over 25 years, Hyland has enabled more than 19,000 organizations to digitalize their workplaces and fundamentally transform their operations. Named one of Fortune's Best Companies to Work For® since 2014, Hyland is widely known as both a great company to work for and a great company to do business with. For more information, please visit Hyland.com.

By connecting people to the documents, data and processes they need to make more informed decisions, financial institutions increase productivity and deliver quality service to their customers and members. Hyland's suite of financial services solutions, including Brainware for Lending, OnBase and ShareBase, help more than 5,500 financial institutions become more agile, efficient and effective.

Media contact:
Megan Larsen
+1 440-788-4988
[email protected]

SOURCE Hyland