Commercial loan servicing is a crucial aspect of lending services, which can impact the borrower’s experience and business outcomes. Loan servicing encompasses processes associated with collecting monthly payments, sending out statements, following up on defaults, collecting and paying taxes, handling delinquent accounts, maintaining documentation, etc. This blog post outlines some of the challenges concerning commercial …
Commercial loan origination is becoming increasingly competitive, with new-age players like neo-banks and FinTech companies permeating the market with reimagined borrowing experience that is faster and easier. To meet customers’ growing expectations and gain an edge over competitors, traditional banks and financial institutions need to automate their processes to improve the efficiency of originating commercial …
Streamlining the Commercial Loan Origination Process with Automation Read More »
Reconciliations are critical processes banks need to perform to check and ensure that the financial statement of a company matches with its balance sheet in terms of the opening cash balance, transactions, and closing balance. This “reconciling of records” aka reconciliations management is crucial to understanding the actual account balance (cash flow) vis-à-vis the data …
Transforming Reconciliations Management with Digital Knowledge Operations™ Read More »
Business process documentation is a vast and tedious activity every banking and financial institution needs to perform perpetually in line with their internal policy frameworks and regulatory mandates. Banks often need to maintain a dedicated staff or capacity for documenting the business processes diligently. At least a few hundred processes and sub-processes constitute front, middle, …
Today mortgage lenders face unprecedented challenges in this fast-paced and competitive marketplace. The need to streamline operations, optimize costs, and provide a seamless user experience has become more crucial than ever. As per McKinsey, digital transformation practices and enhanced customer experience result in about 20-30% customer satisfaction and up to 50% profits. Indeed, digital transformation …
Transform Mortgage Loan Origination with Intelligent Digital Solutions Read More »
The Mortgage sector is a fast-evolving and dynamic sector in the broad gamut of financial services industry. Lately, a substantial input of technologies has begun transforming mortgage operations, delivery, customer experience standards, and other vital aspects; and the evolution is gathering momentum. This situation offers vast growth opportunities for “tech-savvy” mortgage lenders despite challenges such …
Unleashing Growth for Mortgage Lenders with “Right- shoring” Read More »