Paradatec – Artificial Intelligence

A WORLD LEADER IN

Artificial Intelligence

You’ve found it: the most sophisticated and effective AI-based text analysis and automated document processing available on the market.

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AN EVOLVING STANDARD

Used by 3 of the 10 largest U.S. banks and 4 of the 10 largest servicers, Paradatec is bringing previously unimaginable efficiency and speed to the financial services industry.

The Time is Now

The mortgage industry’s leader in AI and loan document automation, Paradatec empowers lenders and servicers to convert 100% of information trapped in static loan documents into pure, dynamic and actionable data.

The time has come to put an end to costly manual reviews, manual data entry and “stare and compare” activities.

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Results at a Glance

No document processing technology is as fast or as efficient. The numbers speak for themselves.

2 BILLION

documents processed PER year

8,500+

data elements available out of
the box for extraction

100%

automated onboarding of
MSR files

750+

mortgage document types
available out of the box

This is much more than optical character recognition. With Paradatec’s AI capabilities, recognized text is machine-read to establish contextual understanding, just as if a person were reading the data. Out of the box, this capability enables indexing of more than 750 types of mortgage documents and extraction of loan data with extreme accuracy in milliseconds. You will also be able to do away with manual filename mapping and automatically audit loan data when boarding loans—in some cases fully eliminating the need for human intervention.

Nobody does automated document processing better.

With Paradatec’s secure cloud environment hosted by Amazon Web Services, your volume can scale almost infinitely—either up or down. If needed, an entire loan portfolio of 1 million loans or more can be processed in the cloud in as little as 30 days.

Plus, once implemented, you will not have to invest a dime into IT support to get the most powerful document processing technology in the industry.

Paradatec is the fastest, most powerful AI-based technology for document processing in the industry. Just take Paradatec’s free one-day blind test challenge to see for yourself.

Paradatec will take a sample of your mortgage files and immediately provide a fully indexed and bookmarked PDF for each loan, with the extracted data elements highlighted on the respective source documents—all without any setup or tuning efforts on your part.

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Our Clients Love Us

From originators to servicers, BPOs and external due diligence firms trust Paradatec to streamline document processing.

We asked a number of vendors, including the Paradatec team, to help us perform an extensive due diligence process that included an out-of-the-box, blind test with our own loan samples and proof of concept test. Paradatec was the clear winner based on our comprehensive vetting process.

Steven Davids

Senior Vice President of Correspondent Lending, Northpointe Bank