Blanc Labs announced the release of its financial technology product called Kapti. The product is part of the Prunto digital lending platform and promises to revolutionize how documents are managed by financial institutions. Kapti brings speed and accuracy to the loan origination and underwriting process by automating the document collection workflow and extracting data using artificial intelligence.
Currently the industry relies heavily on email correspondence to collect regulatory required documents for loan origination. Correspondence between mortgage officers and brokers is often inefficient and unsecure. Further, documents received in this process do not have a streamlined workflow for efficient verification and processing. Kapti is designed to address these gaps.
“We have invested deeply in learning the loan origination process and its document-related data requirements and touchpoints. Using advanced machine learning technology, we are able to predict a document type, classify it, and extract key data elements for decision making” said Dariush Zomorrodi, Chief Innovation Officer at Blanc Labs. “Our goal is to minimize human error and fraud while maximizing decisioning speed and accuracy”.