How Kind Lending implemented multiple automations and gained 400% ROI within three months of adopting Robocorp
The mortgage lending company is on track to 10x these monthly savings by the end of next year, thanks to Robocorp’s RPA technology.
Gen1 RPA tools like UiPath and Blue Prism had high startup costs and limited customization abilities. Despite an easy drag & drop interface, resolving roadblocks was time-consuming. Kind Lending sought an easy-to-use, open-source, developer-focused RPA technology and chose Robocorp's Gen2 Python-based intelligent automation solution
THE CLIENT
About Kind Lending
Kind Lending, a rapidly expanding mortgage banking startup based in Santa Ana, California, was founded in 2019. Their mission is to revolutionize the mortgage lending process by utilizing innovative technology and process efficiencies.
The company's team of skilled professionals is dedicated to simplifying the mortgage process for borrowers, providing top-notch service and resources. Kind Lending's diverse and talented Kind Ambassadors embody the organization's "People Before Profits" philosophy and drive its contemporary approach to mortgage banking.
"I anticipated a platform that would quickly turn automation concepts into products and provide reports on their effectiveness. Robocorp surpassed my expectations, offering extensive functionality through keywords and libraries, minimizing the need for custom coding."
Jacob Hightower
Automation Engineer, Kind Lending
THE PROBLEM
They needed a flexible and adaptable solution for staff to create their own automations
Kind Lending required a platform that could handle complex automation needs while remaining user-friendly for employees without software development training. Robocorp's platform empowered their team to easily build automations without the high licensing costs associated with other RPA vendors.
"Robocorp's support and dedication is fantastic! Even the CEO stepped in to assist, which is rare in many companies. The engineering and customer success teams are highly responsive, addressing and resolving complex issues quickly."
Jacob Hightower
Automation Engineer, Kind Lending
THE SOLUTION
Robocorp Checked All the Boxes
Robocorp's customizability, built-in reporting with logs and analytics, and cost-effective consumption-based pricing model were deciding factors for Kind Lending. The cloud-native Control Room orchestration solution offered seamless scalability, enabling rapid automation creation in line with business growth. Robocorp also provided the option to create self-hosted environments for data protection.
Kind Lending implemented both attended and unattended bots with Control Room, most of which run on-premises. The first automation helped the Capital Markets team determine the fair value of loans, reducing process time by 90%. Other automations, such as quality assurance processes and scheduled file transfers, have also been streamlined thanks to Robocorp's RPA technology.
Robocorp's support and security features, including adherence to OWASP principles and SOC 2 compliance, were crucial factors for Kind Lending.
"Robocorp greatly improved my workflow efficiency, enabling me to handle other tasks concurrently and substantially reducing overall processing time."
Howard Chu
Capital Markets Team, Kind Lending Wholesale Trader
The Results
Although still in the early stages of process automation, Kind Lending has already achieved $5,500 in monthly savings with Robocorp's Assistants and Unattended automations. They expect savings to reach $12,000 a month by the end of the year and $50,000 a month by the end of next year.
The flexibility and autonomy provided by Robocorp's platform have allowed Kind Lending to efficiently implement RPA projects and adapt to new integrations with ease.
90%
Reduction in process time
400%
ROI within three months
60 hrs
saved per month
Looking Ahead
Kind Lending is currently automating its HR employee data information system and has identified additional QA and ticketing system processes for automation. They plan to implement around 90 to 100 business process automations within their loan system in the next six months, with more being identified and backlogged.
Kind Lending's successful transformation and reinvention of the mortgage lending process is a testament to the power of Robocorp's intelligent automation platform.