Google introduces AI automation service for mortgage procedures

LendingDocAI is Google’s exclusive AI service for the mortgage industry. To enable mortgage firms to speed up the process of assessing loan income and assets using machine learning models.

The mortgage process requires a large number of documents, such as bulk documents and personal information management. Google Landing Dog AI is a service provided to companies by adjusting Document AI, which can efficiently inspect, analyze, and verify documents through Google Cloud-based machine learning, exclusively for mortgage, and is affiliated with the mortgage company Roostify. I developed it.

Google has three advantages of Lending Dog AI. The first is to improve the efficiency of operating the loan process. It accelerates mortgage workflow processes such as loan creation and services to simplify loan processing and secures accurate data from documents such as tax certificates, income, and asset listings. Second, improving the loan and mortgage environment. Automating the paperwork process can reduce complexity and improve the mortgage environment. Mortgage applications can be processed more easily, reducing the time to loan approval. The third is support for security requirements and compliance requirements. In order to reduce risk, such as data access control and transparency, encryption to manage customer personal information, technologies are integrated into AI to mitigate security risks and strengthen compliance systems. In addition, data storage such as document verification and receipt is also simplified.

Rajesh Bhat, CEO of Rustify, said that the mortgage industry is just beginning to implement digital response automation procedures to traditional manual procedures, and that with AI help, this change will happen much faster.

Google says that the company has a lot of experience building machine learning models, but in order to introduce a good model, it needs to be integrated into the workflow, which requires a suitable partner, such as Rustify, who is already deeply involved in the mortgage industry, and together use AI to enhance the workflow. I said I would. Related information can be found here .