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.