We at PROGRESS believe that recognizing innovation will cause others to innovate, hence the Innovations Awards Program. We hope that you will apply. But our awards aside, Capsilon has earned the prestigious Gold status in the Golden Bridge Awards for its Capsilon DocVelocity platform. Here’s what this means:
The coveted annual Golden Bridge Awards program encompasses the world’s best in organizational performance, innovations, products and services, executives and management teams and more, from every major industry in the world. Organizations from all over the world are eligible to submit nominations including public and private, for-profit and non-profit, largest to smallest and new start-ups.
Capsilon was recognized with a gold award for its recently introduced automated data extraction (ADE) technology, a new capability of its flagship product, Capsilon DocVelocity. The ADE technology offers mortgage lenders an innovative alternative to current labor-based approaches to access, validate and evaluate critical loan data by extracting the data required by mortgage companies to enable rich data-driven audits. The breakthrough technology is used by some of the nation’s largest mortgage companies for automated loan evaluation that eliminates costly labor, speeds loan turn times, and helps manage compliance.
The extracted data is automatically transformed into Mortgage Industry Standards Maintenance Organization (MISMO)-compliant data points for consumption by automation engines and saved in the DocVelocity electronic loan folder for quick reference at any time during the life of the loan. Links to the original document from which the data is extracted are always maintained, so it is simple to track back to the “source of truth” for the data.
More than 40 judges from a broad spectrum of industry voices from around the world participated and their average scores determined the 2015 Golden Bridge Business Awards winners. The winners were honored during the awards dinner and presentation on November 16, 2015 in San Francisco attended by the finalists, industry leaders and judges.
“To win Gold status in the Golden Bridge Awards in the ‘Innovations in Technology’ category is especially meaningful because our mission is to automate key steps along the mortgage lifecycle through technical innovation,” said Sanjeev Malaney, chief executive officer of Capsilon. “Our automated data extraction technology enables large mortgage companies to automate labor-intensive, time-consuming loan evaluation and audit tasks, improving loan quality while accelerating time to close and reducing total loan production costs.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.