Content services provider for the financial services industry, Hyland, recently launched a new solution to assist lenders with better automating the lending process, OnBase Loan Document Tracking. This platform connects information from disparate systems and provides lenders with greater visibility and control by creating a single application that manages the documentation requirements involved in the entire lending life cycle.
OnBase Loan Document Tracking helps lenders provide a positive customer experience by delivering a full view of required information and documents, ensuring that organizations stay compliant with industry regulations. With this solution, lenders gain digital access to all loan-related information from a central location, enabling loan processors with the correct information at the right time throughout the loan cycle to provide higher-level service to loan applicants and close loans faster.
In a press statement, director of financial services and insurance sales at Hyland, Steve Comer said, “the solution, which was built in collaboration with existing OnBase customers, tracks the different documents needed for multiple loan types. By initiating the tracking process from the moment of application and consolidating the information into a single system, employees gain a complete view of prospect pipeline and the active loan lifecycle to run real-time reports and gain greater knowledge of the entire health of the lending portfolio.”
Once the loan process begins, automatic notifications track which documents are received, missing, or expired, which helps lenders with their compliance efforts.
Comer continued, stating, “by proactively notifying the lender of required or missing documents, Hyland’s Loan Document Tracking solution helps ensure compliance throughout the loan lifecycle, informing loan officers what information needs collecting.”
To read Hyland’s full press release, click here.
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