Four Technology Solutions Impacting Lending Operations Today
A modern lending experience carefully
considers all aspects of the workflow. Every member touchpoint is a critical
part of the credit union’s engagement strategy and directly impacts the member
experience, which is why optimizing your operations is so important.
Optimization streamlines every step to ensure staff can maximize their time with the member and manage volume at its highest capacity. It adds lifts throughout the workflow to increase efficiencies, elevate the member experience, and enhance the quality of your lending program.
Here are four considerations for lending optimization:
1) Leverage automation. Lending is a complicated part of your credit union’s operations. It requires the right technology to increase efficiency and keep workflows moving. Automation simplifies time-sensitive parts of the origination process and maximizes member engagement.
Consider low-code configurability. It empowers staff to adjust workflows and scale easily with minimal IT or engineering support. Staff can create custom workflows with rules, tasks, and stipulations to reflect the credit union’s business processes. These workflows can also be used to assign tasks based on set roles, which makes for a smoother lending process. Workflows allow cross-departmental collaboration, as multiple team members can view the loan application simultaneously.
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