The WSFS eVerification platform (Powered by DocuNECT) provides a secure, automated platform for eVerification of loan documents. It enables businesses to securely store all types of loan documents and utilizes data extraction technology to quickly verify the accuracy of submitted documents in a fast turnaround. Your business can enjoy significant cost savings by eliminating manual processes associated with document management and verification. To learn more about how this cost-effective solution can revolutionize your business operations, keep reading!
How the WSFS eVerification Platform uses DocuNECT?
DocuNECT is a sophisticated system that streamlines the verification process for businesses. Utilizing state-of-the-art technology and advanced algorithms, the platform allows businesses to easily verify their data, helping to prevent additional diligence that will slow down a securitization deal. The Platform is highly customizable with a mature library of configurations to cope with most types of documents. With its user-friendly interface and top-notch security features, DocuNECT is an essential tool for businesses looking to stay ahead of the curve in today’s rapidly changing digital landscape.
Loan eVerification Features
- Secure File Upload – Files can be uploaded manually or by an automated process to our secured and encrypted sftp. Our system is immediately alerted when files are added so no time is wasted.
- Document Classification – The system can automatically identify document types and uses this information to determine the most efficient data extraction method.
- Automated Data Extraction – The system utilizes intelligent capture and Artificial Intelligence (AI) to extract data, which means no expensive programming if formats change.
- Flexible Configuration – Not only can the data be extracted and compared to the data tape, but wet and digital signatures can be confirmed as well as other rules that may have been used in underwriting.
- 100% Loan Review – Our approach is to check every loan and not rely on a sampling plan that may miss critical issues.
- Exception Management – If any exceptions are found a workflow task is created and they are reviewed by a specialist.
- Fast Turnaround – An efficient process and the separation of the verification and certification allows for a very fast turnaround once certification is needed. Loan can trickle in daily and verified daily.
- Automated Communication – Automated creation of verification report and notification Emails gives our client peace of mind that the process works.
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