All-digital mortgage company accelerates claim processing with a state-of-the-art platform Forte Group

All-digital mortgage company

Enhanced InsurTech app drives 3x sales growth
in just two years

Taking your business online is a challenge, and the mortgage industry isn’t the most digital-friendly to begin with. But an Illinois-based mortgage originator has overcome struggles traditionally associated with online loan applications and was on its path to digital transformation.
Founded in 2001 as an Illinois-based mortgage originator, the Company operated across 13 states and expanded into the wholesale channel in 2008. In 2017, the Company announced a strategic hiatus due to the oversaturated lending market and slipping lending standards. Today, the Company switched to a technology-driven model and is back with a custom and fully-owned robust document processing CRM system.

A custom and
fully-owned robust document processing CRM system

Client:
An online mortgage originator

Industry:
Financial services

Project duration:
September 2019 — ongoing

Technology and Platforms:
React/Redux (thunk middleware), “Fuse” React Template Cypress E2E Tests, .Net Core, EF Core, SQL Azure, Azure Functions, Azure Service Bus

Background

  • The crux of the matter was the inability to accept and process complex borrowers’ data, and track the application journey to the bank and back to the claimant.
  • The business-essential operations were scattered all over multiple add-ons that clogged workflows both ways.
  • The third-party SaaS system the brand adopted earlier to collect and process claims was no longer cost-effective and didn’t satisfy the growing business needs.
  • The second hurdle involved a lack of concise UI and coherent architecture in the legacy solution, making it functionally inconsistent.
  • The product’s leadership team communicated their vision of the desired product based on what their experience with the previous system lacked.
  • Forte Group assembled a team of software development professionals with cross-disciplinary skills to collaborate and put forward a plan to design the solution’s infrastructure.

Results achieved

  • The speed of processing a single claim has increased by 20% thanks to redesigned system architecture and fixed UI inconsistencies.
  • The JavaScript-powered server-side rendering accelerated server response and cut maintenance costs thanks to a fully-owned solution.
  • Forte development team created a tool for storing, managing and editing legal documents on the Company’s internal portal, making document handling partially automated
  • Platform users can now add custom fields, edit their contents and assign various asset types, bonds, and ownership from a single dashboard.
  • Forte Group integrated a number of lead generation and sales automation tools into the platform for uninterrupted and streamlined client management.
  • Loan borrowers can benefit from the aggregator search to browse mortgage proposals from thousands of vendors and find the most suitable offers.

Business challenges:

Cover the demand for both B2B
and B2C domains

Bring together local and national-wide brokers and individuals seeking loan application assistance

To enable broker partners and loan originators to operate efficiently on the platform in a fully customizable workspace

Featured-based challenges:

Accept and process complex borrowers’ data, and track the application journey to the bank and back to the claimant within a short time frame

Cut application processing time by streamlining borrowers’ data validation with a robust document management system and optimized submission forms

Provide top-notch user experience in both customer-facing and admin-facing interfaces

Unclog workflows both ways for business-essential operations that are scattered all over multiple add-ons

Eliminate resource-intensive dependencies on third-party applications and integrations, empowering the company to fully own the solution

“Given the team’s rapid expansion since last year and the immense trust the company put into Forte Group’s engineering, we’ve been able to build a product that is competitive and of great quality. We were not only focusing on the technical side of the project, but also designed the solution to be customer-first and maintainable”.

Maksim Paseniuk
Team Lead at Forte Group

Solution highlights

A more intuitive and more error-proof process of applying from the customer-facing point of view.

A single admin panel with unified access to data like pending loans, claims, bank-claimant communication, and analytics.

Effective in-platform asset management for the loan approvals to arrive on time.

The legacy code restructuration allows the implementation of new features and ensures greater system stability.

The JavaScript-powered server-side rendering was introduced for the faster server response and minimal regular maintenance.

Custom fields, editable contents with various asset types, bonds and ownership from a single dashboard, available to platform vendors.

A full-fledged corporate portal connected to a CRM with document management software built from scratch, using an advanced cutting-edge technology stack.

A tool with a concise UI for storing, managing and editing legal documents on the platform’s internal portal, making document handling partially automated.

The system’s verification of users’ initial input using technologies such as machine learning and character recognition to highlight inconsistencies and typos before the application is submitted.

The integration of several lead generation and sales automation tools into the platform, enabling uninterrupted and streamlined client management.

Case study benchmarks

The speed of processing a single
claim has increased by 20%

Smart document processing
automated a few processing steps

Reliable and more maintainable
customer-facing website

Maintenance costs
cut by 28%

Ramp up your business capabilities with Forte Group

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