Is your loan origination streamlined?
Based on your business policies the digital Loan Origination System can be a straight through processor or have manual checks in between. However, it should support your business workflow totally and not make you switch multiple systems or windows for processing. Check the following to map the effectiveness of your Loan Origination Software
- The loan origination workflow per product matches the business requirement.
- Fast and convenient loan application and disbursement through paperless application mode.
- Multi-channel ready to get loan applications online or through agents or your sales while ensuring a seamless borrower experience.
- User level authorisation and data access with easy navigation
- Reduced manual efforts and human errors with automated verification and decisions.
- Status filters and queues to have a quick summary of statuses.
- Integration with data providers to enrich borrower data.
- Digital KYC, fraud check and financial reports to keep all enriched data within the application.
- Digital repository of all the documents, consents and application data at one place
- Automated offer generation with role based permission to edit for alignment with customer expectations.
- Digital contract generation, esignatures to reduce physical hard copies.
- Easy reports and analytics with individualized dashboard for business health monitoring and decision making.