These principles are easy to understand yet exceedingly difficult to implement. While implementing a new system (or endeavoring upon a transformation), business can’t be disrupted. This is the challenge for any lending organization that must dedicate time to mining new prospects, managing a live portfolio, and architecting their next steps to stay in front of their competitors. With the right team, a defined vision, and necessary support in place, you can pivot your organization and begin realizing your goals.
Using the Right Solutions Bring About the Best Results
Digitizing the loan process transforms organizations. Rulesware has a wealth of experience working with financial institutions to bring about real change with its LoanExpediter solution, which enables you to digitally manage the collection of appropriate loan content and streamline the associated loan fulfillment processes.
LoanExpediter supplements your existing loan origination and servicing systems, communicating with them through every step of the fulfillment process. The solution reduces complexity and duplication, as well as manual processing and communication and can ingest information from the 30+ documents that may be required for a loan and index and classify them based on your requirements.
It’s more than a document management system. With guided processing, the solution enables compliant production for every loan. It enables more timely and accurate quality control for Second Line of Defense activities with embedded intelligence and supports exception handling for audit review.
LoanExpediter™ offers automated routing, tracking and notifications for rapid data verification, loan review, and approvals, and the electronic checklists facilitate audit and compliance requirements.
Don’t be one that falls into the 70% of failures category. Begin your digital transformation journey with a solid plan and the right solution that will help bring your vision to life.
Author: Brent Baiotto, Executive VP at Integrated Holistic Services and business transformation leader who has led multiple business transformation initiatives for major financial service organizations.