The In-Between Tech Title Companies Need Now

2023 · 3 min read

The large transaction management platforms in use in the title industry today have fallen short. Companies in this space can no longer count on their primary technology vendor to provide a solution that will help them become more efficient during a downturn.

Title companies of all sizes, but particularly medium- to large-sized firms, need a way to perfect the automation on the front end of their transactions. In our conversations, this was the part of the process that the core transaction processing systems fell short most often. This is the low-hanging fruit that can offer an efficiency lift to the enterprise with the least investment in the smallest amount of time.

The solution title companies need now
Our Rapid Order solution makes it easy to reliably extract data from complex documents and integrate data with existing tools and workflows. Areal.ai, a no-code automation platform for the lending ecosystem focused directly on the Mortgage and Title Industries. Our technology offers incremental automation that fills the gaps in the title company TPS and delivers the efficiency title companies are seeking now.

Areal.ai is a turnkey solution with industry specific document understanding, data extraction and workflow features that enables businesses in the lending verticals to eliminate the need for manual document processing, accelerate their response times and exponentially scale their business capacity.

In just two short years since we launched the company, Areal is in full production with 2 of the top 10 mortgage and title companies in the US as well as 3 of the largest regional agencies and several regional

Our clients, made up mostly of title companies that have been dissatisfied with the performance of existing legacy software at the front of the process, achieve faster and more accurate document classification, often processing documents in less than 5 seconds.

Our goal was to create a no-code software tool that could provide end to end document automation and integration in order to save our clients resources, time and money as they work through the filing process. We have achieved that goal.

Our clients no longer need to position humans at the center of all title workflows. People are no longer required to understand documents, collect the data on forms, compare it and make decisions. Our AI can now do all of this, faster and more accurately than human workers. The few exceptions that do fall out of automation can be handled by a fraction of the team required in the past.

Our AI-powered automation was built specifically to avoid the deal killers listed in this paper and to deliver all of the required functionality spelled out above. It offers:

  • 1300+ document types supported out of the box
  • Native integrations with the industry’s top 3rd party vendors
  • 90-99% accuracy with evidence for document processing
  • SOC2 Certification
  • End-to-end use cases automated for title companies
  • MISMO-based data standards throughout
  • Easy no-code training to bring your own documents into the system
  • One-click model launch to production when accuracy hits the goal

So far, our software has processed millions of pages and has achieved ALTA’s endorsement as a customer, as well as our institutional venture capital funding.

With AREAL.ai’s Rapid Order solution, users can produce seamless title and escrow order entry within seconds. Users can also utilize AREAL.ai’s Rapid Settlement for Escrow Document solution to automatically verify large document sets, including an analysis of the completeness of buyer, seller, lender and notary documents all at once.

If you’re working to ensure continued profitability and looking for a way to reduce friction, add efficiency, save time and money and improve overall customer satisfaction, you need to learn more. Call us today to schedule a demo at a time and of a duration that fits your schedule. To find out more about why we built this solution, Download our White Paper.

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