One of the largest U.S. financial institutions partnered with Conduent to improve efficiency and quality in mortgage application processing. By leveraging Conduent’s proprietary optical character recognition technology, the institution streamlined operations and reduced reliance on manual work. The transformation cut mortgage processing costs by 67 percent, from $1.65 million to $540,000 annually, reduced staffing needs by 42 percent from 55 to 32 FTEs, and improved processing quality by 3.8 percent. These outcomes delivered more accurate, efficient, and cost-effective mortgage processing while saving the client over $1 million each year.

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