Success Story

Success Story:
VirtuSpect Transforms Property Inspections

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At a Glance

This success story showcases how VirtuSpect's intelligent property inspection platform transformed the loan origination process for Celtic Bank, their first major banking customer. As a leading SaaS solution provider for digital inspection management, VirtuSpect helped Celtic Bank overcome traditional inspection challenges and achieve significant improvements in their operational efficiency.

Now processing more than 100 inspections per month

Inspections that previously took days are now routinely completed in < 1 hour.

Significant increase in employee and customer satisfaction

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About VirtuSpect

VirtuSpect provides a cutting-edge SaaS platform for digital property and asset inspections, powered by Axon Ivy’s process automation technology.

Designed for banks, financial services, and other industries, VirtuSpect enables organizations to streamline their inspection processes through an automated, scalable, and AI-driven approach to meet enterprise-level demands.

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Challenges in Loan Origination & Property Inspections

In the fast-paced financial services sector, Celtic Bank faced significant bottlenecks in its loan origination process due to traditional property inspection procedures. As VirtuSpect’s first major banking client, these challenges were representative of the entire industry:

Manual inspection methods could no longer keep up with the demands of modern lending processes.

The requirement for third-party inspections at every inspection site caused delays and significantly increased operational costs.

These traditional processes no longer met customer expectations for fast, digital-first services, prompting Celtic Bank to adopt a transparent, digital solution with VirtuSpect.

Lack of standardization across inspection procedures

Inefficient communication through email-based processes

Time-intensive manual workflows requiring
physical presence

Complex integration requirements with existing systems

Heavy reliance on costly external inspectors

Difficulty adapting to different industries and unique client requirements

"Partnering with Axon Ivy has been fundamental to VirtuSpect's success, equipping us to deliver exceptional service while meeting the rigorous demands of the banking vertical market."

Tim Harris

CEO VirtuSpect

VirtuSpect & Axon Ivy Solution: Digitalizing Inspection Processes

By leveraging Axon Ivy’s powerful process automation platform, VirtuSpect achieved key improvements:

Customized User Experiences

Axon Ivy’s flexibility enables us to tailor the inspection experience to each customer and to adapt smoothly to different industries, including banking, insurance, healthcare, and government.

AI-Powered Insights & Smart Workflows

The platform leverages AI to create executive summaries of inspection reports, providing management with actionable insights and helping them to make better, faster decisions.

Scalability and Operational Efficiency

VirtuSpect’s customers benefit from Axon Ivy’s scalable architecture, which supports high inspection volumes while minimizing communication bottlenecks. There is also reduced reliance on email-based processes, and streamlined “human-in-the-loop” operations.

Flexible Workflow Management

Axon Ivy’s workflow system allows our customers to manage different types of inspections with ease. Loan applicants perform virtual inspections leveraging an integrated 3rd party app for image authentication and precise geolocation to ensure data integrity. This virtual, self-service approach significantly reduces the costs associated with assigning third-party inspectors for routine inspections. For cases requiring external review, inspections are seamlessly assigned to third-party inspectors, ensuring a smooth, adaptable process.

Integration with 3rd Party Systems and Enterprise Systems

VirtuSpect integrates with a payment provider service and a virtual inspection tool, ensuring seamless payment processing and effective self-inspection handling. Axon Ivy’s capabilities allow for smooth integration with these systems to deliver a solution that fits naturally into our customers' existing workflows, with the flexibility to orchestrate with client’s enterprise systems.

Success Story: VirtuSpect Transforms Property Inspections