#USA #New York #AI Automation #Heron Data #TFS Financial

Revolutionizing Broker Desk Operations with AI

In an age where efficiency is king, Heron Data is setting new standards for the finance industry. The recent partnership with TFS Financial marks a significant milestone, enabling rapid automation of broker desk operations through its advanced artificial intelligence (AI) solution. This innovative collaboration not only streamlines workflows but also speeds up credit decision processes, bringing a wave of transformation to how brokers and lenders operate in a document-heavy environment.

The Challenge: Overwhelmed by Manual Tasks

TFS Financial's broker desk was previously bogged down by routine, time-consuming tasks. With thousands of finance applications to process each month, the team grappled with extensive manual inputs and repetitive data management. The workflow included copying and pasting decision information from emails into their CRM, uploading files, and managing a cluttered inbox — all of which hampered productivity. Specifically, employees spent approximately five minutes per decision, dealing with about 200 decisions per day, totaling over 4,000 decisions per month. The sum of these administrative duties rendered the equivalent workload of two full-time employees dedicated solely to tedious tasks instead of focusing on strategic customer engagement.

The Solution: Embracing Heron’s AI Technology

Recognizing the pressing need to mitigate manual work, TFS Financial turned to Heron Data. The objective was clear: enhance their operational efficiency and improve customer turnaround time. The integration of Heron’s AI-driven document-processing platform has allowed TFS to automate their decision-making process end-to-end. Here's how it works:

• - Intelligent Ingestion: Decisions received from lenders via email are automatically ingested into Heron's system.
• - Classification and Matching: Heron intelligently classifies and matches the documents with the corresponding applications.
• - Direct Uploads: Decision details and supporting documents are seamlessly uploaded into TFS’s system without requiring manual input.
• - Instant Notifications: As decisions are processed, results are instantly routed to the designated brokers, allowing for real-time updates on approvals, declines, or additional conditions.
• - Exception Handling: Only edge cases require human intervention, which significantly minimizes the time spent on low-value tasks.

Achievements: Transforming Operations and Enhancing Engagement

Since implementing Heron's solution, TFS Financial has witnessed remarkable results:

• - 4,000 Decisions Automated: This monthly achievement is equivalent to eliminating the workload of two full-time employees.
• - Faster Turnaround for Customers: The streamlined processes have resulted in near-real-time decision responses, enhancing customer satisfaction.
• - Organized Workflows: A cleaner, organized inbox and operations allow staff to focus on strategic responsibilities instead of administrative burdens.
• - Increased Employee Engagement: With manual tasks minimized, employees can now concentrate on proactive, high-value activities that foster client relationships and revenue generation.

Conclusion: A Game-Changer for Brokers

The partnership between Heron Data and TFS Financial underscores the importance of speed and accuracy in finance. By automating tedious workflows, brokers can shift their focus back to what truly matters — nurturing lender relationships and delivering exceptional customer service. The benefits of this collaboration are profound, not only providing a more agile operational framework but also enhancing overall employee morale. As they continue rolling out Heron’s technologies across their lender network, TFS Financial is poised to redefine industry standards.

Heron Data’s pioneering efforts are setting a new benchmark, and it is just the beginning of a promising trajectory towards optimizing financial operations across the board.