Loan Origination is one of the core processes of financial firms to streamline their loan processing cycle.  An automated loan origination solution allows the lending organizations to close more qualified loans faster with improved operational efficiency. It virtually eliminates the tedious sorting of both paper and electronic files and dramatically minimizes the costly manual data entry.

A well-tuned loan origination process can affect the firms in many positive ways. With the dynamic market conditions & ever changing regulatory compliances, a robust intuitive technology for retail lending has translated into a need.  Advancing technology and changing customer preferences are driving significant changes in interactions. Firms need to continuously adapt and increasingly adopt technology to simplify lending to enhance reach and foster customer loyalty.

Often the manual processing of loans challenges lenders, creating spiraling labor costs and backlogs of files preventing loans from closing on schedule. This translates into loss of business to competition. For this reason, many financial institutions are automating their lending processes, covering the entire loan life cycle – from loan origination through loan application process, risk assessment, decision-making, monitoring, and management control of approved loans.

Benefits of  an automated loan processing system

• Provide a better user experience to improve the speed and accuracy of loan applications
• Process a larger number of loan applications with existing resources
• Eliminate sources of human error for faster, better-quality evaluation decisions
• Establish predictable, repeatable, and auditable processes that support compliance
• Reduce delays and costs associated with paper processes
• Analyze process and loan performance with the goal of continually improving efficiency and profitability

Insight Consultants Loan Origination Solution

Insight Consultant’s, end-to-end loan origination solution offer a multitude of solution accelerators, which ensure faster reaction to complex market solutions. We successfully developed an end-to-end loan origination system for a financial sector start-up. Client was looking  a scalable, fully automated and integrated loan origination system in place in the shortest time. While there were scores of software products catering to businesses like this, they were all piecemeal and disparate. We developed a customized, cloud hosted, web based, highly configurable, cross platform loan origination system that helped our client set new standards of speed and cost efficiency in the sector.  

Benefits of our solution

• Highly customizable
• User friendly interface
• Highly configurable admin section
• Fully automated decision engine
• Integrated to 3 major credit bureaus
• Extensive configurable dashboard
• Integrated with recommended -third party services
• Integrated with doc prep system
• Provides automatic and manual notification system
• Automate the entirety of lending disclosure process
• Provides a platform to help banks meet their SLAs on loan origination process

Our solution is entirely scalable and can be deployed in your existing system for meeting compliance requirements in a rapidly changing environment. It supports decisions across the entire retail lending life -cycle by automating origination and decisioning workflows, assesses credit risks, calculating pricing and manages the integration with third party data providers. Insight’s LOS architecture consists of highly parallelized, rules-driven mini workflows, interwoven with a Document Management System to specific activities in the business workflow. It has a rich interactive interface with real-time reporting dashboards, which provide instant data across regions, branches, divisions, and organizations.

Contact Us to  know  more about our loan origination solutions.