Compare Vaultedge vs Gateless

Gateless, previously owned by Kodak Alaris and now owned by Guaranteed Rate is a mortgage document processing software. It uses a nascent vision-based AI technology, built originally for image processing, document extraction; classification.

Gateless and Vaultedge both uses AI for mortgage document processing. However, Gateless uses a nascent vision-based AI technology that is more appropriate for image processing. On the other hand, Vaultedge uses mature machine learning models & natural language processing to interpret documents just the way a human would. This means Vaultedge can handle both structured and unstructured data with much higher accuracy than an image processing-based technology.

Gateless claims to facilitate 100% elimination of key errors. However, it does not publish the accuracy of its automated document recognition and data extraction workflow. Vaultedge provides a 95% accuracy out of the box. The accuracy improves further as users review and correct the output. This is made possible by using artificial intelligence that learns from users’ actions.

Typical Gateless implementations last several months. Whereas, Vaultedge can be configured and used in production in days.

Gateless workflows are largely custom-built for each customer. However, they are completely focused on; pure-play lenders - loan processing & post-close QC teams. However, Vaultedge offers a simpler interface that is optimized for not just pure-play lenders but also for lenders with in-house servicing functions.

Gateless does not publish the number of document types &amp; data fields it handles.<br><br>On the other hand, Vaultedge automatically classifies 500+ documents and 2000+ fields from a loan file. More documents and fields are added on a continuous basis.

Gateless charges one time set up cost in the range of &nbsp;$30,000 - $50,000 &amp; usage cost in the range of $20 - $25 per loan file processed. However, there is a minimum commitment volume and no free trial.<br><br>Vaultedge charges a one-time setup fee of $15,000; a usage cost of $15 per loan file processed. Vaultedge does not require you to have any minimum commitment and also offers a free trial.