Commercial lending solutions that conquer inefficiencies

In Q4 2017, commercial lending investments totaled their highest full-year return since 2014
- Giliberto-Levy Monitor

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.

OnBase by Hyland streamlines loan origination and processing by giving commercial lenders the power to effortlessly scale processing, improve customer service and increase profit margins.

OnBase meets challenges head on

What starts as a 10-page application file can grow to include 100s 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.

How do OnBase commercial lending solutions help?

Paper is eliminated: Industry leading intelligent capture imports and digitizes documents, regardless of format. OnBase 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 OnBase’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: Previously 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 total visibility into 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.