July 9, 2004
Voice2Form Announces Voice Recognition System to Speed Up Mortgage Application Process
ORLANDO, Fla. – July 9, 2004 – Voice2Form Systems Corp. announced today the availability of its new, patented voice recognition system VoiceForm™ for mortgage companies and lenders that wish to speed up the loan application process and offer their customers better and more efficient customer service. Voice2Form's president and CEO, Ken Barash, was awarded US Patent No. 6,738,740 B1 on May 18, 2004 and makes the announcement this week at the Florida Association of Mortgage Brokers' Annual Convention in Orlando .
VoiceForm captures a caller's loan application information, converts the information to text and automatically and instantly generates a form that is exported into a third-party loan processing system for approval. The caller is given a personal identification number (PIN) at the inception of the call that allows them to come back into the system at any time in the future to continue their loan application process or apply for a new loan or line of credit without having to start from scratch. VoiceForm can reduce the time needed for a sales agent or loan processor to complete the data, thereby significantly reducing errors and the time required for the application process. In addition to providing a system for voice transactions, VoiceForm also serves as a lead generation tool, as it captures the caller's name, address and telephone number whether or not the call was completed.
Voice2Form has signed an agreement with NetByTel, an industry leader in telephone self-service solutions, to develop, deploy and service the voice recognition systems for Voice2Form's clients. As a managed service provider, NetByTel can get the new voice recognition systems up and running quickly and at a fraction of the cost of in-house speech solutions. Clients can immediately begin saving time and money as they allow VoiceForm to handle the repetitive loan application calls and allow their live agents to deal with more complex issues and true revenue-generating calls.
“The mortgage industry has benefited greatly from automated loan application processes, such as the Internet, but that still leaves out the 70% of U.S. households that do not currently have Internet access and the customers that are uncomfortable giving their personal information online,” said Ken Barash, president and CEO of Voice2Form Systems Corp. “VoiceForm opens the door to a much broader base of customers, yet still allows the lender to save time and money using speech automation. Plus, it provides a 24/7 telephone option that might not otherwise have been available.”
VoiceForm also allows applications to be completed in any language, including Spanish, French, and more and will transcribe the data into English before generating the form. Callers can also “opt out” of the automated system to speak directly to a live agent, if available. “Our goal is to make the caller's experience as pleasant and efficient as possible,” added Barash. “With VoiceForm, mortgage companies, lenders and borrowers can take advantage of the state-of-the-art customer service that speeds up the entire loan process and saves them money at the same time.”
ABOUT Voice2Form SYSTEMS, CORP.
Based in Boca Raton , Florida , Voice2Form's VoiceForm™ technology is a voice recognition system for interactively gathering information to generate a document, form or application. Ken Barash, Voice2Form's president and CEO, was awarded US Patent No. 6,738,740 B1 issued May 18, 2004 that applies to both commercial and any governmental agency (federal, state, local) that requires an individual or business to complete forms, such as credit investigation documents, school applications, professional applications, (i.e., bar application, etc.), governmental forms (immigration/visa forms, income tax returns, etc.). VoiceForm's unique system provides the caller with a unique personal identification number so he or she can call back and finish the application or document at any time without having to start from scratch.
Mr. Barash, who has more than 40 years experience in the mortgage industry, is a technologist at heart who in 1986 successfully launched the first mobile automated loan origination, processing and underwriting software system.
For additional information, goto www.Voice2Formsystemscorp.com or call Ken Barash at 561-756-1055.