Case Study: a Fortune 500 company accelerates loan processing and saves $1.2 million with Persistent Systems

US mortgage leader accelerates loan processing and saves $1.2 million through data stack modernization

The customer, a Fortune 500 company and a leading provider of automation software for the US mortgage industry, needed to accelerate its loan processing to compete with FinTechs. Their challenge was to leverage automation to enable real-time data and self-service analytics for brokers and lenders. They partnered with Persistent Systems for a data stack modernization initiative.

Persistent Systems implemented a solution using AWS to modernize the data stack and deployed its Insights Platform for data monetization. This involved migrating data to the cloud, creating a system for analytics and benchmarking, and automating document classification for compliance. The results included $1.2 million in savings, 100% regulatory compliance, a 50% acceleration in loan processing time, and a reduction in document signing from weeks to hours.