November 2023 » thefivestar.com
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November 2023
F E A T U R E S T O R Y
This automated process eliminates the
manual effort involved in data verifica-
tion, reduces errors, and ensures a higher
level of accuracy. Ultimately, it enables
lenders and servicers to generate purified
data to fuel their downstream automation
initiatives, resulting in cost savings, im-
proved customer service, and significant
SLA improvements.
With AI-based document automation
and extraction tools, lenders and servicers
improve the quality of their data without
sacrificing the speed they need to impress
their customers and business partners.
The new enhancements include enriched
audit trails for extracted data, providing
users with more detail about the source
of each data field, which can support
improved levels of automation in their
workflows.
Recent advancements in AI have
ushered in a new era of data quality
improvements without compromising
speed. In a challenging market like to-
day's, when lenders and servicers need all
the business they can get—yet also need
to stay compliant and keep costs down—
the time to embrace AI is now.
