The lending industry is a fast-growing and competitive landscape still trying to recover from the 2008 economic meltdown. As a result, many non-bank institutions have joined the lending game. These marketplace lenders are looking for technology solutions to help them reduce operating costs while improving their competitive edge over traditional lending institutions.
What if your organization could improve by implementing a single system and improve the efficiency of the entire business?
Learn how you can take your organization to the next level with this blog article that is designed to help you understand the specific technology aids you can incorporate to streamline processes.
Stay competitive in this fast-moving industry and win new customers with ECMNOW!. With ECMNOW! you can automate manual processes, securely protect sensitive financial information, and start saving money today on things like processing expenses.
• Store documents in the cloud to enable secure 24/7/365 access to documents from anywhere on virtually any device.
• Automate manual processes by leveraging our award-winning patented Artificial Intelligence (AI) engine to classify and extract data from loan applications.
• Effortlessly cross-reference documents between line-of-business (LOB) applications and other external systems to expedite the loan process.
• Eliminate fraud with electronic processes and workflows that ensure internal security measures are applied and followed for every loan application.
• Securely manage data to ensure compliance with federal regulations such as the Home Mortgage Disclose Act (HMDA), Sarbanes-Oxley Act (SOX) of 2002, and the Dodd-Frank Act of 2010.
• Use retention locks to protect sensitive financial documents from premature or accidental deletion.
• Decrease costs by leveraging Robotic Process Automation (RPA) and Intelligent Automation (IA) to automate routine and complex business tasks.
• Write off the cost of our cloud solution, ImageSilo, and turn capital expenses into tax deductible operating expenses.
• Save money by eliminating hardware and IT costs.
“A major shift is taking place in how enterprises select their financial management applications. By 2020, 36% of enterprises will use the cloud to support more than half of their transactional systems of record.”
– Gartner, 2017
What Problems Can ECMNOW! Solve?
Intelligently Automate Processes
Are you tired of spending hours looking for missing loan application files? With ECMNOW! you can easily implement RPA, AI, and IA solutions to automatically digitize, manage, route, and store all your loan documents to improve productivity – increasing the efficiency of the entire organization with just one system.
Comply with Security Regulations
Are your files protected in accordance with federal regulations? Under HMDA and SOX, organizations that process loans are required to disclose how data is protected, shared, secured, and reported. With ECMNOW! document tracking is automatically applied making audits a breeze and saving you valuable time and money.
Improve Speed and Accuracy
Are you still manually processing loan applications? Eliminate time-wasting manual data entry and improve the accuracy of your data by leveraging our patented AI engine to intelligently automate your documents. PaperVision Forms Magic will classify and extract key information from virtually any document, ensuring your data is accurate – allowing you to focus on more important tasks.
Save Money by Moving to the Cloud
How much money are you spending on managing your information? Free yourself from hardware, software, and other IT related expenses by moving to the cloud. With ImageSilo, you can turn capital expenses into tax-deductible operating expenses. Plus, the system offers unlimited data storage and automatically adapts as your organization grows.
Enjoy Easy Setup
Need a system that is easy to setup and manage? With ImageSilo you can get up and running in a matter of days, not weeks. Access your information from any location, on virtually any device. Move to the cloud, improve productivity, and save the entire organization time and money.
Do you work with multiple systems? ECMNOW! comes with easy to use point-and-click integrations that make it easy for you to share information with line-of-business applications and other external systems, simplifying your records management and improving the efficiency of the whole organization.
“Thanks to ImageSilo, we are able to provide 24/7 access to loan files. The goal is to have files uploaded and indexed within 24 hours of a loan closing, allowing participants to review files from virtually any location.”
– Ginger Heckman, Manager of Business Development, Community Business Lenders
We want to show you how Microtek’s over 50 years of experience can help you and your lending organization improve, plus all of our work is guaranteed!
If you have any questions, would like any additional information, or would like a free and no obligation consultation and estimate, please don’t hesitate to call us at 314-872-3322 or 800-264-2808 and ask for Aaron Liess or Mark Sandheinrich, or email us at firstname.lastname@example.org. Thank you!