Although most commercial lenders have implemented document imaging solutions as part of the post-closing process, only a few lenders use imaging as an integral part of the origination process.
Managing documents is difficult in commercial loan origination because the lending process requires many documents created by different parties to the transaction over a period of weeks.
Bringing enterprise content management (ECM) into the commercial loan origination process eliminates paper at the point of entry and provides shared access to documents regardless of location.
Although stand-alone ECM has value for commercial loan origination, banks gain maximum value by tightly integrating ECM tools with loan origination and servicing systems.
Vendors offer specialized ECM solutions tailored to lending processes, reducing the effort required for configuration and customization.
ECM vendors have begun to partner with commercial loan origination system (LOS) vendors, providing out-of-the-box integration.
(0 items)
