Paradatec Wins Second Innovation Award

Paradatec Inc. is excited to announce that they have won PROGRESS in Lending’s Innovation Award for the second time in four years.

 

PROGRESS in Lending’s announcement reads:

“The Executive Team of PROGRESS in Lending is proud to give Paradatec our Innovations Award this year. In 2022, Paradatec achieved a new breakthrough by solving an industry challenge requested by its clients – delivering fully automated document classification results that rival the accuracy of an experienced mortgage professional manually indexing documents. Paradatec took on the clients’ request as part of its ongoing customer commitment to continuously incorporate the latest in AI-based approaches to its market-leading solution. After a multi-year effort, Paradatec released Version 8.0 in Spring 2022 and established a new industry baseline for automated document analysis. The new release has been rapidly adopted by clients, who use it as “lights out” document classification. Paradatec’s impact on the industry has been significant. Its solution is used by 3 of the top 10 mortgage lenders in the U.S., 4 of the 10 largest servicers, due diligence firms, settlement service providers, and BPO companies.”

Many thanks to the PROGRESS in Lending team for recognizing our efforts to continually increase the value our solution delivers!