Point-of-sale (POS) solutions company Floify announced on Tuesday its launch of Dynamic AI, a new capability that shifts the mortgage application process by moving document collection and AI-driven data extraction to the very beginning of the process.

Instead of filling out long questionnaires, borrowers can upload documents such as pay stubs, W-2s and identification. The system’s AI extracts and verifies the data, prepopulating applications with confirmed information.

The new tool dovetails with Floify’s March launch of Dynamic Apps, a feature that lets lenders customize loan applications based on loan type.

Floify says the feature cuts down on manual data entry details ⇒

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