Generic IDP solutions vs mortgage specific IDP solutions?

What do you get from intelligent document processing (IPD) solutions that are specially designed for the mortgage industry or should you go for generic IDPs that can be configured for Mortgage.

Well there is no simple answer to that. Both have significant benefits and both have drawbacks.

Let’s start with the Mortgage specific IDPs.

  1. Mortgage specific IDPs are IDPs that were designed for mortgage process. This ensures absolute compliances to the industry’s rules & regulations.
  2. Mortgage specific IDPs will also be tuned towards the types & formats of documents that would be processed this ensures a very high degree of accuracy in processing these documents. If there is a change in the format then mortgage specific IDPs would be the first to adapt to those changes.
  3. Mortgage specific IDPs would be compliant with all the systems that are present in a mortgage institution IT landscape. Mortgage land
  4. Mortgage specific IDPs would have specific features that are specific for mortgage processes either at document processing state of before or after that. This increases the value that the system brings.
  5. The Ui/Ux of mortgage specific IDPs are created keeping in mind the unique aspects of the mortgage process that leads to better throughputs and higher productivity

Let’s look at some of the pros of generic IDPs


  1. Generic IDPs have a wider range of documents that they can process. This is primarily because they address multiple industries and hence cater to more diverse document sets. However what is interesting to note is that does this flexibility benefit you. IF ypu are in invoice processing then the ability to process multiple invoice formats makes sense. However, does this matter in the mortgage space?
  2. Generic IDPs have a configurable process map for their IDPs. This is required so that the IDP complies with the processes of the customer within the limits of the configurations. After all configurations would lead to 80% compliance to a mortgage institution’s bespoke processes.
  3. Generic IDPs have a higher development team and so can get you the latest technologies. This is something that is useful in some cases but as with everything, moderation & prudence is key.

So along with this lets factor in another aspect. What benefits does a vendor offer. Does the vendor have timely updates or does the vendor have other products that are useful.

As with everything, everyone is unique and so is their needs. Do factor in the above points when you decide on a IDP

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