Fintech company launches AI-powered post-closing tech

by Candyd Mendoza03 Feb 2021

Fintech company Avanze Tech Labs has launched an AI-powered SaaS software that automates and expedites the post-close process.

“Post-closing has been an ignored sector in the digital mortgage evolution, and we saw an opportunity to better serve the industry,” Avanze Tech Labs president and CEO Auvese Pasha said. “With STACX we are using AI in the most intelligent way to expedite loan processing and increase confidence in quality assurance, making the life of the post-closing user easier and enabling the business to operate with speed and agility.”

The post-closing tool, called STACX, utilizes artificial intelligence, optical character recognition, and machine learning to eliminate the manual work of mortgage processing and labor-intensive quality assurance checks – streamlining the process in minutes. STACX also enables clients to create custom workflows and automated compliance checklists to streamline communication.

Avanze claims that its technology can reduce costly errors by improving compliance and increase operations’ bandwidth. STACX also has no onboarding fees or annual contracts. Clients pay as they process loans and launch STACX in no time.

“Our system is constantly learning, so our clients can continue to save time and effort as we improve using their feedback,” Pasha said. “STACX has a built-in QC framework for review of the final product providing real-time results, organizing and classifying loan documents in seconds.”