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10-04-2019, 04:45 PM #1
- Join Date
- May 2017
- Posts
- 123
CRM Tip of the Week - Why You Need an Automated Loan Management System
One of the characteristics of modern technology is that just about everything that can be automated, is being automated. From shopping to restaurants to CRM’s, automation is one of the most common changes to come to any business. And the various branches of alternative lending, funding and fintech are no exception.
An automated loan management system has a number of significant advantages over legacy lending systems. Using a modern cloud platform, these systems provide superior customer experiences, improved decisioning accuracy, and eliminate paper documents. It streamlines the entire process of originating, underwriting, and servicing Alternative Loans and Merchant Cash Advances, or whatever funding vertical you work in.
Replacing manual steps with automation, transforming paper into digital format, and gathering performance data on all aspects of your lending practice lets you:
- 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
Read the full article here
The CloudMyBiz Team
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