Commercial lending software solutions
Accelerate response times, shorten cycle times and kick off your digital transformation
With the uptick in returns on commercial investments, commercial lending institutions could be seeing a higher volume of loan applications. Great news, right?
But the commercial lending industry as a whole is behind on process modernizations. Labor-intensive, paper-based processing that’s repeated across multiple business silos is the norm. Managing higher volumes of loan applications under these conditions requires more resources and additional headcount.
Hyland's commercial lending software streamlines loan origination and processing by giving commercial lenders the power to effortlessly scale processing, improve customer service and increase profit margins.
Hyland's commercial lending software solutions meet challenges head on
What starts as a 10-page application file can grow to include hundreds of pages of documents that must be gathered, stored and shared with various third parties.
With so much paper and a laundry list of manual tasks, including switching back and forth between internal and external information sources and rekeying data into spreadsheets, documents and stand-alone, third-party systems, the commercial loan life cycle is complex and error-prone.
Customer experiences suffer greatly when organizations have process bottlenecks. Hyland’s financial services platform for commercial lending gives organizations the agility they need to automate loan processes, stay ahead of digital transformation, meet compliance requirements and empower informed loan decisions every day.
Some key capabilities of commercial lending software include:
- End-to-end automation to streamline lending processes
- Comprehensive reporting for process transparency
- Defensible records management for efficient audits
- Customer communications management (CCM) to deliver swift, personalized customer experiences
How do Hyland's commercial lending software solutions help?
Paper is eliminated: Industry leading intelligent capture imports and digitizes documents, regardless of format. The solution accurately extracts information and securely stores it, reducing the risk of lost documentation and removing the need for physical storage.
Response times are accelerated: Imported documents are placed into virtual folders that store all content surrounding a particular business or loan. The folders are based on previous paper-based processes, making the solution's interface familiar and user-friendly for employees. With one access point for all commercial loan documentation, employees can provide faster responses to inquiries and better customer service.
Cycle time is shortened: Labor-intensive manual tasks can be converted into automated workflows that gather information and approvals from internal and external sources. Problems that arise are immediately flagged for review and users have a complete view of workflow status.
Document sharing is secure: Selected documents can be easily shared with third-party service providers and investors via the web and/or ShareBase by Hyland, a cloud-based sync and share. With restricted security access, these parties will only see documents specific to them. Lenders can extend this privilege to auditors and allow them to retrieve authorized documents, improving compliance and easing audits.