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In conventional lending environments, teams spend hours (if not days) manually keying in data from pay stubs, bank statements, proof of identity, and other supporting documents. Basic Automation (RPA, eSign , Simple Workflows) Key Traits : Rule-based dataentry, simple e-signature forms, limited data extractions, partial digitization.
The need for accurate dataentry, timely processing, and effective communication with borrowers adds to the complexity. Unlike traditional automation methods, IDP not only extracts text from documents but also understands the context and meaning, making it highly effective for complex data extraction and classification tasks.
Simply put, guided selling is the process of analyzing current and historical sales trends with the help of customer data and tailoring product recommendations to accelerate conversion rates. According to Gartner , 75% of B2B sales will be managed through AI and ML-driven selling solutions. ML also plays a role here.
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