Finally, an automated document classification and data extraction solution for the residential mortage industry has arrived!
Message from the Founder
After spending 15+ years in the mortgage industry, I had had enough. Frustrated by the lack of viable solutions which actually performed as advertised. I've dealt with this first hand as being on the client side of these services. After performing my own diligence and speaking to industry contacts, I developed a deep understanding how these services were being executed by existing service providers.
Surprisingly, or unsurprisingly, these solutions lacked the technical capabilites necessary to provide the level of accuracy in which is acceptable by adopters of these services. The reality started to rear its ugly head and became clear technology was secondary to what was really behind the execution of these services which were teams of humans, mostly offshore. This presents many problems such as: prone to human error, slow turnaround times and sensitive data being sent offshore.
After receiving enough feedback from market participants expressing the same frustration with exisiting solutions and getting a large fund to agree to be our pilot client, it was all I needed to hear to launch ArmorDoc.
They provided us with 10s of thousands of loan packages allowing us to build and train a maching learning model. After spending an entire year with the client focusing on nothing else but development of the product, being adament we were not going to go to market until we were achieving the desired results, we converted this pilot client into our first revenue producing client.
We did this by leveraging technology which has only been available within the past few years, allowing us to execute on the industry's first truly automated solution achieving greater than 97.5% accuracy with fast turnaround times, at scale.
Our core differientor is we are not an OCR solution, OCR is just one component of our overall solution. While existing providers mostly have a rules-driven approach with teams of humans for clean-up, ArmorDoc leverages machine learning followed by reinforcement learning meaning our solution is continuously improving every day.
In addition, we offer recording stamp and signature recognition models to identify recorded security instruments and executed versions of documents.
We can't wait to continue offering our solutions to all market participants putting an end to decades long of frustration. We look forward to working with you! Don't hesitate to reach out to me directly with any questions or to schedule a demo! mike@armordoc.com