Indecomm Launches GeniusWorks, an Automation-enabled Origination Workflow
~ GeniusWorks Automation + Talent Drives Significant Cost Savings in Middle Office Origination ~
Edison, NJ. May 19, 2022 -Indecomm Global Services, a leading provider of mortgage automation and services, today announced the release of GeniusWorks™, an automation-driven intelligent workflow solution that combines Indecomm’s proprietary automation solutions with expert mortgage talent to streamline the three most cumbersome and costly middle-office origination functions: set-up, processing, and underwriting.
Built for lenders looking to maximize productivity while minimizing costs, GeniusWorks leverages Indecomm’s Genius suite of automation and expert talent to take loan files at set-up and return them to the lender clear-to-close. GeniusWorks streamlines all workflow, processes, decisions, and tasks at middle-office origination so the lender’s associates can focus on high-value efforts such as borrower engagement.
“We created GeniusWorks to solve fragmented and inefficient origination outsourcing models,” said Indecomm CEO, Rajan Nair. “Blending automation with mortgage talent, we’ve created a connected, cohesive engagement model that simplifies lender oversight, speeds processing, and improves loan decisions, translating to cost-savings, fast turnaround times, and a better borrower experience.”
GeniusWorks’ intelligent workflow seamlessly switches between automation and expert talent based on the context of the task being executed. GeniusWorks processes both conventional loans and complex products like non-QM. Key features include:
· Utilization of Indecomm’s BotGenius™ to automate over 70% of the repeatable mortgage tasks eliminating the need for any manual intervention or processing
· Applying DecisionGenius and IncomeGenius for tasks and touchpoints requiring intelligent decision management capabilities such as complex income calculations or underwriting analyses
· Protecting lenders against defects and delivering peace of mind with our “Indecomm Promise” reps and warrants
Managed and maintained by Indecomm, the Genius automation solutions are cloud-based and integrate with the lender’s loan origination platform, delivering real-time visibility into loans at every stage.
“Our models predict that lenders will achieve a meaningful 30% reduction in cost-per-loan at the middle office and a 50% reduction in the number of lender touches per loan,” said Indecomm’s SVP, Automation, Narayan Bharadwaj. “This efficiency allows lenders to operate profitably even during periods of economic uncertainties and without the constant yo-yo of having to manage their capacity up or down.”
While GeniusWorks leverages machine learning and robotics process automation to expedite high-quality loan processing and decisioning, Indecomm’s mortgage talent addresses corrective action and human analyses not covered by automation, reducing bottlenecks, and keeping loans moving through the process. Managed by a GeniusWorks client liaison, the GeniusWorks team includes experienced loan admins, processors, and underwriters.
Founded more than 25 years ago, Indecomm blends intelligent automation with deep mortgage banking expertise to deliver groundbreaking mortgage innovations that help businesses optimize operations and achieve competitive advantage. Backed by a 1500-strong global workforce, Indecomm’s automation-as-a-service approach benefits mortgage organizations, enabling them to offer better borrower experiences by streamlining middle and back-office operations.
Indecomm takes an automation-first approach, partnering with large and mid-sized lenders, servicers, mortgage insurers, and title companies to create efficiencies at every phase of the mortgage lifecycle. Specifically, Indecomm products and services leverage robotics process automation (RPA), supervised automation, and machine learning to tackle the industry’s most complex operational challenges.