Visionet Systems Announces Partnership with Victorian Finance Provides seamless electronic document processing technology and services to regional mortgage banker CRANBURY, New Jersey and BRIDGEVILLE, Pennsylvania – October 14, 2016 – Visionet Systems Inc., a leading automated document classification, indexing and data extraction provider for the mortgage industry, is pleased to announce it has entered a strategic relationship with Victorian Finance, LLC. With the initial integration, Visionet is automating the extraction of critical information from Victorian’s investors’ purchase advices and feeding that information back into Victorian’s Loan Origination System (LOS). Visionet Systems has over 20 years of experience in providing businesses with innovative solutions for electronic document processing and Business Process Outsourcing services. The solution created for Victorian, based on Visionet's VisiLoanReview (VLR) Platform, will save Victorian approximately 30 minutes per loan file and will virtually eliminate errors from manual data entry. "Many lenders’ processes are still unnecessarily lengthy and error-prone because they include sifting through documents and keying data into the LOS," said Arshad Masood, CEO of Visionet. "Our technology and services allow Victorian to offload a cumbersome and tedious process and improve the efficiency and scalability of their organization." The integration allows Victorian’s users to send image or PDF purchase advices to VLR for processing and receive the underlying data back in the LOS in real time. Visionet has trained its technology to recognize purchase advices from Victorian’s numerous investors and extract up to 30 data points from each. The data is fed back to Victorian’s LOS in the proper field locations to allow downstream calculations and reporting to continue as normal. For damaged or poor-quality documents, Visionet provides a white glove service which handles all exception processing. The companies expect to expand their partnership in the future with additional document workflow automation, and related back office and IT services. Sonny Bringol, Victorian’s President, said, “As the industry in entirety, we are constantly searching for more efficient methods to perfect the mortgage process. Visionet has become a key technology partner to reduce errors and cost in loan production. Visionet has been very cooperative in customizing to our operational strategy. I see Visionet as key partner is the future success of Victorian Finance.”
Visionet Systems Announces Partnership with Victorian Finance
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.