Revolutionizing Homeownership with Rocket Logic – Synopsis: A Collaboration with Rocket Mortgage and AWS

This post is co-written with Josh Zook and Alex Hamilton from Rocket Mortgage.

Rocket Mortgage, America’s largest retail mortgage lender, has introduced a groundbreaking AI tool built on AWS called Rocket Logic – Synopsis. This innovative solution has completely transformed client interactions and operational efficiency through the use of Amazon Transcribe Call Analytics, Amazon Comprehend, and Amazon Bedrock. By leveraging Rocket Logic – Synopsis, Rocket Mortgage has achieved remarkable results, including automating post-call interaction wrap-ups, resulting in a projected 40,000 team hours saved annually, and a 10% increase in first-call resolutions, saving 20,000 hours annually. Additionally, 70% of servicing clients now choose to self-serve over Gen AI-powered mediums like IVR. Rocket’s strategic approach of “start small, launch and learn, scale fast”, combined with AWS enablement, has proven to be highly effective, allowing them to deploy 30,000 servicing calls in just 10 days and subsequently scale operations four times greater and banking six times greater.

Opportunities for Innovation

Rocket Mortgage services over 2.6 million clients, with 65 million voice interactions and 147 million voice minutes across banking, operations, and servicing. Focusing on three key personas—clients, client advocates, and business leaders—Rocket aims to enhance experiences across the board. Recognizing that clients value their time and benefit from hyper-personalized support, Rocket has tapped into the insight that 81% of consumers prefer self-service options. By offering enhanced self-service tools, Rocket is poised to provide faster resolution times, greater client autonomy, and a more satisfying overall experience.

This transformation also benefits client advocates and business leaders by streamlining processes and providing valuable insights for driving significant improvements in client satisfaction and operational efficiency.

Strategic Requirements

To further enhance client interactions, Rocket has identified key strategic requirements for their solution. These include sentiment analysis, automation, AI integration, data security, compliance, and scalability. These requirements ensure that the solution can handle the demands of their extensive client base and provide actionable insights to enhance client experiences.

Solution Overview

Rocket partnered with AWS to deploy the AWS Contact Center Intelligence (CCI) solution Post-Call Analytics, branded internally as Rocket Logic – Synopsis. This solution uses AI technologies to transcribe and analyze client calls, extracting valuable insights such as sentiment, call drivers, and client preferences. By leveraging services like Amazon Transcribe Call Analytics, Amazon Comprehend, and Amazon Bedrock, Rocket has significantly enhanced client interactions and operational efficiency.

Rocket’s “start small, launch and learn” approach, combined with AWS technologies, allowed for rapid development and deployment, enabling the team to achieve a time-to-market of just 10 days. This agile methodology facilitated exploration and innovation, resulting in a solution that is both innovative and practical.

Achieving Excellence

The implementation of Rocket Logic – Synopsis has yielded remarkable results for Rocket, including efficiency gains, enhanced client experiences, increased first-call resolutions, proactive client solutions, and rapid scalability. These achievements demonstrate the transformative power of technology in creating more efficient, responsive, and personalized client experiences.

Roadmap

Looking ahead, Rocket plans to continue enhancing Rocket Logic – Synopsis by utilizing data gathered from call transcripts to further improve predictive analytics, omnichannel integration, client preference tracking, and enhanced personalization.

Conclusion

The collaboration between Rocket Mortgage and AWS has revolutionized the homeownership process, integrating advanced AI solutions into client interactions. Rocket Logic – Synopsis enhances operational efficiency significantly and improves the client experience. As Rocket continues to innovate and expand its AI capabilities, they remain committed to providing personalized, efficient, and seamless homeownership experiences for their clients.