Using Automation to Increase Loan Participation
Loan participation is not a new concept, but the way credit unions approach it is in need of an update. Currently loan participation is a slow process, rife with long and tedious loan documents that take time to compile and review. With automation touching nearly every aspect of financial services - and life in general - it’s time that loan participation gets a digital update, as well.
Loan participation is important for credit unions, it helps them split up a loan that might be too large for one institution or spread out a loan that might be too risky to take on alone. Regardless of the underlying reason, loan participation exists to help credit unions free up liquidity on their balance sheets so that they can t...