Nanonets

MARCH 26, 2023

Document processing and underwriting : Document processing and underwriting can be automated, reducing the time it takes to review and approve mortgage applications. Closing and post-closing processes : OCR technology can streamline closing and post-closing processes, such as document preparation and record-keeping.

Automation 52

Automation Process Underwriting Origination 52

Nanonets

APRIL 24, 2023

 The lender typically charges a loan origination fee, which is around 1% of the loan amount, to cover the cost of the work involved in the origination process. Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Origination 52

Origination Process Underwriting Automation 52

Nanonets

JANUARY 31, 2024

Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. Month-end reconciliation is the most important part of the month-end close process. It involves recording, reviewing, and reconciling records at the end of every month.

Best Practices 52

Best Practices Reconciliation Adjustments Correspondent 52

Nanonets

JUNE 18, 2024

It also helps prevent and detect theft and fraud earlier, assisting organizations to comply with financial regulations such as the Sarbanes-Oxley Act (SOX) , which mandates that publicly traded companies establish internal controls and procedures for financial reporting.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

Nanonets

JULY 24, 2023

Error Detection and Prevention: Through the process of reconciliation, errors such as incorrect calculations, omissions, duplications, and human errors can be promptly identified and rectified. This helps prevent the propagation of errors and ensures the integrity of financial data.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

JUNE 23, 2023

This process is known as the financial close. Balance sheet reconciliation is a crucial step in the financial close process, serving as a vital control mechanism for organizations. Fraud Detection Reconciling balance sheet accounts can help uncover fraudulent activities or irregularities.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

FEBRUARY 28, 2024

Fraud detection: It enables you to more effortlessly place fraud or any other problem with your books since it is simple to look through and comprehend. Inefficient Approval Workflows : Traditional processes often involve cumbersome approval chains that delay payments and complicate cash flow management.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52