DigiFirst for Loan Application Processing

The Challenge: Complex, costly loan application processing
Crown Solution: Digital automation for lenders
Business Benefits: Streamlined operations, reduced costs

The Challenge

Loan processing is typically a paper-based, highly regulated environment, creating significant challenges for lending agencies wanting to optimize operations and reduce costs. You’re likely faced with:

Extensive physical paper storage requirements
Talented resources devoting unnecessary time to administrative tasks
Loan processing that is painfully slow, impacting costs and customer satisfaction

Crown Solution

Crown DigiFirst Loan Extension (LEX) provides an additional layer of capability beyond Crown DigiFirst—the industrial-strength business process automation solution for EMC Documentum clients. LEX is designed to serve the unique needs of lending institutions. The solution allows companies to effectively and efficiently meet their requirements for record processing according to government regulation, industry standards, and corporate policies. LEX includes an integration framework for interfacing with lending information services such as flood determination, credit checks, title searches, and more, according to the Mortgage Industry Standards Maintenance Organization (MISMO) guidelines.

DigiFirst and LEX automate your paper-based, highly-regulated processes, such as claims processing, loan automation, application processing, and much more. Preconfigured, condensed workflows called “quickflows” are flexible yet robust, allowing for more precise business modeling than traditional workflows. Digifirst combines the quickflows with best-of-breed imaging, business rules, and business process management, resulting in a complete digital automation solution.

Business Benefits

With DigiFirst, you can achieve more than just productivity gains. You can:

Reduce physical storage by eliminating paper
Improve customer satisfaction through quick turnaround
Free skilled knowledge workers from tedious administrative tasks
See as much as a 300-percent gain in process yield
Reduce compliance risk with tight, auditable processes
Secure content in your EMC Documentum repository

Need more information? Contact us at info@crownpartners.com or sign up for a DigiFirst Loan Extension demo.