Credit application automation helps banks escape from the long, complicated process of clearing requests, thus accelerating the processing of applications and increasing the number of loans, i.e. launching a “loan pipeline”.
A solution may enable a bank to automatically check a prospective borrower’s credit history by automatically requesting data from the credit bureau. That way, you can immediately decline “dead” applications without wasting time evaluating them.
At the customer’s request, you can apply a decision-making scoring system to small loan applications.
Automating credit application processing both simplifies and accelerates the process, from receiving an application from prospective borrowers to disbursing credit to them, which can increase the number of successful loans – and thus increase profits as well.