USE CASES FOR AUTOMATION THROUGHOUT THE LOAN PROCESS
Automation is a buzz word that is frequently used in the financial services industry these days. But what does it really mean for your business, and how far can you take automation through your credit origination process?
Early on, it’s easy to see how automation can impact customer management. In our webinar hosted by The Coleman Report, 56% of the audience stated their greatest challenge was “the manual collection of data and subsequent back and forth with the client.” By providing your clients with a digitized method of submitting their financial information, you can avoid manual work and data inaccuracies. This benefit alone can save you time.
Automated financial spreading and tools like optical character recognition and machine learning methodologies can drastically reduce the time required for risk assessment. Seamless integrations between your credit origination and customer relationship management systems or other internal platforms lead to better overall data integrity and governance. Combining all these tools in one platform ultimately allows for an accurate and complete view of your portfolio.
Automation is not just a buzz word, but a powerful concept that, when pursued effectively, can transform your organization and save you time and money.
In “Maximize Efficiency: How Automation Can Improve Your Loan Origination Process,” we take a detailed look at automation use cases throughout six stages of the lending process.
Download the paper here and you’ll also receive access to our complementary webinar replay.
Assistant Director, Engagement Manager