Client Spotlight: Guild Mortgage

MaryBeth Folger News

Founded in 1960, Guild Mortgage has grown from a single office to become one of the largest and most trusted independent mortgage lenders in the United States. In 2019, the company set a record total loan volume of $21.71 billion, up 32.3% from 2018. Servicing also grew to $49.43 billion for the year. Guild services more than 237,000 loans and has correspondent banking relationships with credit unions and community banks in 43 states and services loans in 47 states. The lender credits its astonishing growth on its experienced people, entrepreneurial culture, focus on creativity and innovation, and commitment to customer service.
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Ask a Mortgage Process Automation Expert – Part 3

MaryBeth Folger News

Origination costs have been on the rise over the last few years. According to the Mortgage Bankers Association, the combination of increasing regulations and manual efforts to ensure compliance has resulted in U.S. mortgage origination costs that are three times higher than they were a decade ago. RPA can dramatically reduce the need for human intervention in loan processing so that employees can focus more on thought work or interfacing with customers.

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Simplifying Enrollment with RPA

MaryBeth Folger News

The annual enrollment period (AEP) has a significant impact on yearly revenue for healthcare payers, but it can also tax an organization’s workforce substantially. During the annual enrollment period payers are hit with an influx of new enrollments to be processed. AEP runs for 6 weeks per year and billions of dollars’ worth of choices are made over this short time period. These choices directly impact the health and well-being of the millions of Americans signing up for benefits, so it is imperative that payers have the capacity to handle enrollment volume.

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How RPA is Transforming Finance and Accounting

MaryBeth Folger News

Finance and accounting (F&A) processes, by their very nature, are complex and dependent on accuracy, which can create a burden on the department when relying on human labor. According to the McKinsey Global Institute, Robotic process automation, or RPA, is estimated to have a global potential of 44% in F&A. RPA is an ideal solution for F&A processes that increases productivity, prevents delays when dealing with accounts, and reduces inventory turnover. Automation can reduce or even eliminate the issues caused by human labor, offering organizational benefits like increased accuracy, reduced cycle time, and greater regulatory compliance.

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Applying RPA in Digital Transformation Initiatives

MaryBeth Folger News

In today’s digitally-focused age of business, tech buyers are more motivated than ever to invest in software to help them achieve digital transformation. Many companies were prompted to begin or accelerate digital transformation initiatives this year as the impact of COVID-19 amplified the inefficiencies within their business. It became harder to ignore the negative impact of legacy or disconnected business systems that echo throughout an organization in the form of dysfunctional processes, disparate data silos, and lengthy cycle times. Robotic process automation, or RPA, can act as a functional layer across business systems old and new to facilitate cross-platform communication. …

What is Hyperautomation?

MaryBeth Folger News

Hyperautomation brings together robotic process automation (RPA), machine learning (ML), and AI to drive end-to-end process automation, as well as AI-based decision making. The term “hyperautomation” was coined by Gartner in its October 2019 article, Gartner’s Top 10 Strategic Technology Trends for 2020. However, industry analysts may use different terms for the same concept: Forrester refers to it as “digital process automation,” and IDC (International Data Corporation) uses the all-encompassing term “intelligent process automation.” How is hyperautomation different from RPA? RPA can be used to tackle a wide range of processes, but the software has limitations. RPA robots cannot be programmed …

Ellie Mae Open House Podcast with HPA

MaryBeth Folger News

In this podcast, hear from Eric Kujala, Product Marketing Director, ICE Mortgage Technology, and Nolan Johnson, Sales Engineer at HPA, as they discuss how the mortgage industry is harnessing the power of robotic process automation (RPA) and Artificial Intelligence (AI) today and the key things to consider when evaluating RPA for your business. Ellie Mae Open House PodcastGet peace of mind in the unknown with RPA and AI.Listen now!More of a reader than a listener? Check out a summary of the podcast below, minus all of Nolan’s antics. What is RPA? RPA is simply training robots on how to perform …

Client Spotlight: Kern Health Systems

MaryBeth Folger News

Kern Health Systems Manages Rapid Growth with HPA’s RPA-as-a-Service Robotic Process Automation (RPA) is an ideal solution for the unique challenges facing many payers in the U.S. For Kern Health Systems (KHS), RPA was just what the health plan needed to keep up with rapid growth, both in claims volume and member services. KHS serves primarily low-income Medicaid members in California, and its broad provider network includes hospitals, facilities, primary care doctors, and specialists. KHS is dedicated to improving healthcare for its members through an integrated managed healthcare delivery system. In 2015, KHS migrated from a legacy system to TriZetto’s …

The Rise of the Citizen Developer

MaryBeth Folger News

In recent years, Robotic Process Automation (RPA) software providers have prioritized “low-code” and “no-code” robot development solutions. The intent behind the no-code craze, aside from selling more licenses, is to enable citizen development. The concept of citizen development is simple: make the platform so easy to use that non-technical users could develop their own robots. While employee empowerment is great, is it right for your RPA initiative? Low-code/no-code: hype or reality? In-house RPA programs have historically been built by experienced personnel dedicated to the program, which typically consists of process analysts, business analysts, and developers. Analysts to aide in process …