Accelerating decisions and cutting costs per loan, OnBase empowers consumer lenders to acquire, retain and service an increased volume of loans. With all loan information – from paper or electronic sources – instantly available in a secure central repository, consumer lenders are able to provide quick responses to customers and dealers.
The enhanced service helps retain customers while increasing the opportunity for referrals. Loan officers are also better informed to provide alternative or additional product recommendations. With instant access to real-time information, decisions are quick, informed, well-documented and processed correctly. By decreasing their dependency on paper, OnBase also helps lenders reduce operating costs and increase profit margins.
With OnBase, consumer lenders:
- Increase the close percentage of indirect loans by providing quicker responses to dealers
- Ensure seamless integrations between consumer loan origination software and documents
- Increase customer satisfaction by providing immediate answers to inquiries
- Mitigate risk with greater compliance and fraud detection
OnBase empowers lenders to decrease risks as they improve legal and regulatory compliance with automatic document histories, audit trails and records management. Information can also be cross-referenced, enabling loan officers to compare information more easily and detect inconsistencies, which may be an indicator of fraud.
With electronic document workflow, lenders use rules-based processing for reviews and approvals. Timers and notifications alert users when loans need follow-up to renew, collect or capitaliee on previous sales. Workflows are easy to create and manage and don’t require custom coding, so employees can create them without relying on the IT department.