A large-scale bank wanted to digitally transform its physical archive of original mortgage collateral documents. With manual handling, original documents were vulnerable to being lost or misﬁled due to human error, resulting in a ﬁnancial risk associated with not having the original collateral documents.
Investors considering purchasing mortgages often request a statistical sampling of original documents. When shipping documents for a statistical sampling request, the packages were vulnerable to being lost in transit or damaged. Also, with the documents out of the physical archive, the client could not access the documents for any other interested investor.
The client wanted to keep original documents physically archived while having a digital archive to serve as a backup, audit tool, and possible revenue stream for when investors purchase loans. The client wished to lower the amount of manual handling of the documents while also decreasing labor costs for manual processing.