Vaultedge Mortgage Automation vs Paradatec
Choose Vaultedge to make things easy for you and your team
Used by the
Leading companies
What is Paradatec?
Paradatec is a provider of AI-based mortgage document automation that delivers document indexing and data extraction for mortgage originators, servicers, BPO companies, and due diligence firms.
Comparison
Vaultedge vs Paradatec
Compare
Vaultedge
Paradatec
Vaultedge uses AI, ML, and OCR to automate, extract, and index documents accurately from a loan package making the underwriter's and Loan Processor’s job less cumbersome and pushing for a better Return on Investment (ROI).
Paradatec leverages a hybrid of AI, machine learning (ML), and robotics to produce pristine loan data that eliminates most manual effort, reduces costs, increases turnaround, and improves compliance.
Popularity
3 of the 10 largest U.S. banks and 4 of the 10 largest servicers use Paradatec’s product for loan processing.
3 out of the top 10 financial institutions use Vaultedge Mortgage Automation for loan processing.
Availability
Vaultedge is an official Microsoft Azure Marketplace and Ellie Mae Marketplace partner.
Paradatec doesn’t have any known marketplace partnerships.
Capabilities
Vaultedge automatically classifies 500+ mortgage document types and extracts 2000+ fields with a 99% accuracy & identifies exceptions so that users can focus only on handling exceptions.
Vaultedge cannot redact personal information from sensitive documents. It extracts only relevant information.
Vaultedge cannot redact personal information from sensitive documents. It extracts only relevant information.
Paradatec automates loan processing by accurately identifying more than 750 unique documents in the typical loan file and capturing over 8,500 data elements.
Paradatec automatically finds and removes personally identifiable information (“PII”) in sensitive documents.
Paradatec automatically finds and removes personally identifiable information (“PII”) in sensitive documents.
Integrations
Vaultedge is an official Encompass integration partner and is compatible with Black Knight Empower, Wipro NetOxygen, Black Knight MSP
Paradatec has no officially known integration with any leading LOS.
Income Analysis
Vaultedge Income Analyzer assesses income for W2 and self-employed borrowers and reads through pay stubs, W-2s, bank statements, and tax documents.
Paradatec extracts relevant data from pay stubs, W-2s, bank statements, and tax documents. It doesn’t analyze income.
Price
Vaultedge pricing starts at a one-time set-up fee of $15,000 & usage cost of $15 per loan file processed.
Paradatec doesn’t reveal its setup fee on its website. You can contact them for the price breakup.
Vaultedge uses AI, ML, and OCR to automate, extract, and index documents accurately from a loan package making the underwriter's and Loan Processor’s job less cumbersome and pushing for a better Return on Investment (ROI).
Popularity
3 out of the top 10 financial institutions use Vaultedge Mortgage Automation for loan processing.
Availability
Vaultedge is an official Microsoft Azure Marketplace and Ellie Mae Marketplace partner.
Capabilities
Vaultedge automatically classifies 500+ mortgage document types and extracts 2000+ fields with a 99% accuracy & identifies exceptions so that users can focus only on handling exceptions.Vaultedge cannot redact personal information from sensitive documents. It extracts only relevant information.
Integrations
Vaultedge is an official Encompass integration partner and is compatible with Black Knight Empower, Wipro NetOxygen, Black Knight MSP
Income Analysis
Vaultedge Income Analyzer assesses income for W2 and self-employed borrowers and reads through pay stubs, W-2s, bank statements, and tax documents.
Price
Vaultedge pricing starts at a one-time set-up fee of $15,000 & usage cost of $15 per loan file processed.
Paradatec leverages a hybrid of AI, machine learning (ML), and robotics to produce pristine loan data that eliminates most manual effort, reduces costs, increases turnaround, and improves compliance.
Popularity
3 of the 10 largest U.S. banks and 4 of the 10 largest servicers use Paradatec’s product for loan processing.
Availability
Paradatec doesn’t have any known marketplace partnerships.
Capabilities
Paradatec automates loan processing by accurately identifying more than 750 unique documents in the typical loan file and capturing over 8,500 data elements.
Paradatec automatically finds and removes personally identifiable information (“PII”) in sensitive documents.
Paradatec automatically finds and removes personally identifiable information (“PII”) in sensitive documents.
Integrations
Paradatec has no officially known integration with any leading LOS.
Income Analysis
Paradatec extracts relevant data from pay stubs, W-2s, bank statements, and tax documents. It doesn’t analyze income.
Price
Paradatec doesn’t reveal its setup fee on its website. You can contact them for the price breakup.
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What clients say about us
" We used Vaultedge to automate the indexing of loan documents that we receive from all our lender partners, amounting to more than a million documents every month. This enabled us to move 70% of people from Document Recognition to other processes."
Michael Kittyle
CIO, BSI Financial Services
" Vaultedge automatically indexes our Mortgage documents and extracts 300 data fields from them, enabling us to save 80% of Post Close Audit process time. Vaultedge is helping us improve our Time to Close and Cost to Close metrics."
SVP, Record Services
Top Mortgage Servicer
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