Cloud Loan Processing is ‘Game Changer’: Print Preview
- The software smoothes out what was fragmented loan processing system.
- The system is especially helpful on SBA loans.
- Northwest FCU said process efficiencies have improved by as much as 20%.
Time is money, and entrepreneurs never seem to have enough of both.
The nCino system is designed to continuously monitor all of the process steps and they are moving forward. For example, if a process is not completed in the expected time frame, the system automatically sends an email alert to the next process step that the loan is not being handled in the expected time frame. That prompts the loan officer to make a phone or email inquiry to find out what the holdup is without leaving his desk and looking for something or someone.
“We saw the nCino solution as a way to pull everything together to track loans, have the loans routed to the right people and then have an audit trail that enables you to track where those decisions were made and who made them,” said Northington.