|By Business Wire||
|October 19, 2016 09:03 AM EDT|
Synechron, Inc., a global consulting and technology innovator in the financial services industry, and Paradatec, a global leader for freeform document classification and data extraction, today announced a strategic partnership and licensing agreement that will dramatically reduce costs and increase productivity for mortgage originators and servicers through more accurate document automation.
Mortgage Bankers Association has forecast that the purchase originations and refinance originations will total $1.31 trillion in 2017, and with document management costs forming a huge part of every mortgage originated, any increase in straight through processing of documents will reduce the burden on the industry as a whole. With the industry’s highest optical character recognition (OCR) rates, Synechron found Paradatec was uniquely qualified to address the mortgage industry’s paper processing challenge. Its ability to read structured, semi-structured and unstructured documents within milliseconds per page and at the same time provides up to 80% automation/labor savings and addresses the mounting need for processing cost reduction of the mortgage industry. Through this partnership, Synechron will work to implement Paradatec’s software and to rethink broader digital operations to achieve economies of scale.
“Mortgage servicers and lenders are looking for reliable ways to automate their systems that have become increasingly expensive to operate,” said Zia Bhutta, Co-Founder and COO of Synechron. “Many of the OCR tools that are available in the market today claim to handle unstructured documents, but Paradatec’s superior technology and focus on mortgages enables them to offer the highest rates of automation and accuracy. Paradatec’s automated processing and neural networking approach to OCR, can dramatically reduce costs, minimize risk and optimize operations to significantly improve mortgage servicing. This technology will be an important first building block to becoming a digital business.”
“Synechron’s deep understanding of the mortgage industry and the changing technology landscape makes them a perfect partner for Paradatec,” said Mark Tinkham, Dir. Business Alliances at Paradatec. “With continued pressure from regulators on lenders, most recently with TRID rules, we know that there is a serious need in the market to find solutions that can quickly adapt and do so accurately.”
Synechron is a global consulting and technology organization providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Based in New York, the company has 16 offices around the globe, with over 6,000 employees producing over $350M in annual revenue. For more information on the company please visit the website or our LinkedIn community.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Mar. 1, 2017 03:30 PM EST Reads: 2,058
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Mar. 1, 2017 03:30 PM EST Reads: 2,257
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Mar. 1, 2017 03:15 PM EST Reads: 2,923
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you ...
Mar. 1, 2017 03:15 PM EST Reads: 452
SYS-CON Events announced today that TMC has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo and Big Data at Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY, , and the 21st International Cloud Expo, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Global buyers rely on TMC’s content-driven marketplaces to make purchase decisions and navigate markets. Learn how we can he...
Mar. 1, 2017 03:15 PM EST Reads: 394
Artificial Intelligence has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Javits Center in New York, June 6-8, will find fresh new content in a new track called Cognitive Computing | Artificial Intelligence, Machine Learning, Deep Learning. Cloud Expo is still accepting submissions for this new track, so please visit www.cloudcomputingexpo.com for the latest information. 2...
Mar. 1, 2017 03:15 PM EST Reads: 304
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
Mar. 1, 2017 03:15 PM EST Reads: 6,681
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
Mar. 1, 2017 03:00 PM EST Reads: 6,343
SYS-CON Events announced today that Addteq will exhibit at SYS-CON's DevOps Summit at Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Addteq specializes in creating innovative solutions to solve business processes through the use of DevOps automation. Addteq was founded on the firm belief that automation is essential for successful software releases. Addteq's products and services are centered around the fundamental approach of understanding the p...
Mar. 1, 2017 02:45 PM EST Reads: 110
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Mar. 1, 2017 02:45 PM EST Reads: 2,220
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
Mar. 1, 2017 02:45 PM EST Reads: 1,030
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Mar. 1, 2017 02:30 PM EST Reads: 1,974
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 1, 2017 02:30 PM EST Reads: 517
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning inf...
Mar. 1, 2017 02:28 PM EST Reads: 131
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Mar. 1, 2017 02:15 PM EST Reads: 2,799