Investing in automation to set the stage for a successful future
Everything SouthState does is organized around creating a better experience for their customers. A couple of years ago when the housing market was booming, they invested in the ICE Mortgage Analyzers鈩� and ICE Data & Document Automation鈩� to improve efficiency and handle large amounts of volume. Once the market cooled, SouthState saw these solutions as an opportunity to prepare for the future, achieve scalability with their existing workforce and gain quicker turn times.
Today, it takes SouthState an average of 15 days to close a loan, but one of their top near-term goals is to achieve a clear to close within 10 days. Currently, they鈥檙e hitting industry benchmarks and are closing loans faster than ever before. This is largely due to the Analyzers minimizing manual tasks and delivering an accurate review, so their processors can do their jobs faster and more efficiently. With the Analyzers, they鈥檝e seen an uptick in their speed to sell a loan, have never had a miscalculation and have created a better, more consistent borrower experience from beginning to end.