Intelligent Content Automation Software for Loan Processing Whitepaper
What's Inside
The financial services industry generates millions of application forms, contracts, client correspondence, customer documentation and other types of business content daily. As paper documents accumulate, manually maneuvering through the process becomes labor and time-intensive. Long term, this practice is unsustainable. An automated loan processing system can lighten the load for financial services professionals.
This white paper explains the steps and best practices to implement a solution that allows you to realize continuous advantages such as:
- Reduction in costs that would normally accrue due to the cost of paper, extra labor, storage, mailing and any necessary physical transportation.
- Condensed processing time, reducing the approval process so closing rates are quicker, giving the organization an advantage over the competition.
- Enhanced search and retrieval of important documents to increase productivity and allow employees to focus on more important tasks — like strengthening client relationships. This translates to repeat business. * Assured governance and compliance. Confidential information is safe, and an established records management policy ensures regulatory and industry compliance.
“In the past, when a loan document was received, it was printed and punched. Then an employee would have to find the right folder in a sea of filing cabinets. The new process takes roughly 45 seconds to complete. And searches based on metadata are completed within seconds.”
Shawn Carlson, Chief Information Officer, Tradition Capital Bank
The KnowledgeLake platform helps automate other processes such as:
Intelligent Financial Services
Manage financial documents in the cloud to reduce costs and drive new revenue.
We help organizations intelligently automate their most important document processes.