Traditional loan origination systems are riddled with disjointed loan processes. Local financial institutions are forced to settle for multiple 3rd party systems in order to complete all their lending needs. The time it takes to process files, sign documents, pull credit reports, upload account information to the core, and coordinate all other pieces of the workflow adds up quickly. Even if the long-term benefits of an integrated platform are promising, switching over can be a daunting challenge for financial institutions who have limited resources. Uphauling an entire credit department is extremely difficult, time-consuming, and increases the risk of exposing sensitive customer data.
By accepting the status quo, local financial institutions are hurting their bottom lines, and ultimately, customer satisfaction. With disjointed systems, lenders are faced with immense operational inefficiencies. Learning a separate set of logins, rules, and capabilities for different lending processes is frustrating and labor-intensive. Underwriters without a centralized, digital system have poor visibility into their customers’ data and become prone to human error from repetitive data entry. To top it off, accurate reporting and analytics is diminished. Consequently, this buildup of wasted energy causes delays in responding to customer inquiries which weakens your brand’s reputation.
Consolidating 3rd party systems into one immediately optimizes underwriting and operational efficiency. With rising customer expectations for prompt responses, financial institutions are quickly moving towards technological innovation and cutting edge lending solutions. In order to stay competitive with Big Banks and FinTechs in the ever-changing digital era, financial institutions must invest in technology.
Help your team work better together with MK Decision’s Dashboard. Whether you’re at the office, in the field, or on the go, access our secure banking portal from any device. Collaborating during the underwriting process is important, so modernize your back-end lending workflows so nothing gets lost in the shuffle. Our centralized, cloud-based platform empowers your financial institution, with just the click of a button. Ditch manual logins and repetitive data entry in favor of MK’s integrations with your preferred credit bureau and core processor that offer end-to-end data flow. Our intuitive system has multi-tab functionality to streamline your lending experience. Dashboard closes the gap between you and your customers since the whole team can view loan queues in real-time to provide top-notch customer service. Save precious time and get back to building fruitful relationships with your community.
Free yourself from the limitations of segmented 3rd party loan processes and unify your operations. Our intelligent lending solution is built for growth, today and tomorrow, to help your financial institution continue to thrive. Interested in learning more about how Dashboard can support your workflows? Contact sales to streamline your lending operations.