BALA CYNWYD, Pa., Feb. 19, 2020 /PRNewswire-PRWeb/ -- Allied Mortgage Group, a leading full-service residential mortgage lender, announced its partnership with AI Foundry, a provider of advanced artificial intelligence (AI) solutions. AI Foundry has collaborated with Allied to develop "ARTificial Intelligence Employee" ("ARTIE"). The initial post-closing phase significantly reduces the time per file from nearly an hour to just minutes.
"This is a very exciting time for Allied as we begin leveraging cutting-edge technology to improve our business and increase efficiency," says Kyle Manseau, Senior Vice President of Operations at Allied. "This is just the beginning of an ongoing effort and high priority for our company to apply AI to other areas of our process."
AI Foundry has developed advanced artificial intelligence, machine learning, and machine vision to create cognitive robots that review loans, improve the speed and efficiency of mortgage processing, and deliver automation to all areas of the lending process. This automation greatly reduces and, in some cases, even eliminates the need for a human touch, allowing operations staff to focus on the more complex areas of the loan process.
S. Roy Chowdhury, President and CEO of Allied Mortgage Group says, "In our industry, it's important to always deliver the highest level of service possible to our clients. I am very encouraged by the demonstrated results of ARTIE and how it has helped our overall process. We will continue to explore what else AI will enable us to do as we strategically grow our business."
Allied Mortgage Group has deployed AI Foundry's Document Indexing and Filing cognitive robot to accelerate processing, reduce costs, and remove human error when collecting and filing all the documents that support a mortgage loan.
"Seeing our AI platform in production with a top lending organization such as Allied is a great testament to what our technology can do," said Steve Butler, president and founder, AI Foundry. "Allied has seen rapid improvements in the performance of the model and is now getting significant value from our Agile Mortgages solution. They are a great partner and we look forward to helping them add more automation throughout their loan life-cycle to improve efficiency and reduce costs for each loan."
About Allied Mortgage Group
Allied Mortgage Group (NMLS #1067) is a 27-year-old mortgage lender that serves consumers, realtors, builders, mortgage brokers and financial institutions with a history of responsible lending. Allied Mortgage Group offers a full menu of loan products as well as local knowledge and expertise in the residential mortgage lending industry. Founded in 1993, Allied Mortgage Group is headquartered in Bala Cynwyd, Pa and is licensed in 35 states with six operations centers and 18 regional offices serving local communities. More information is available at http://www.alliedmg.com.
About AI Foundry
AI Foundry provides a Cognitive Business Automation Platform, incorporating the latest in AI, machine learning and machine vision technology. The patent-pending technology automates processes by quickly extracting data from electronic images and documents with superior accuracy and minimal manual intervention. Built on top of the platform, our Agile Mortgages solution automates the entire loan process and reduces manual document review and enhances performance from POS to LOS. AIFoundry.com.
SOURCE Allied Mortgage Group