Automating Loan Origination for a Mid-Sized Bank
Client Overview: A regional bank was struggling with a slow, manual
loan application process that took an average of 15 days, leading to high drop-off
rates. The process involved manually extracting data from various documents, running
credit checks in a separate system, and compiling reports by hand.
Our Solution: We implemented an Intelligent Document Processing
(IDP) solution to extract data from application forms and supporting documents. This
was integrated with an RPA bot that automatically entered the data into the core
banking system, initiated credit checks via an API, and generated a preliminary risk
assessment report for the loan officer.
Key Challenges:
- High volume of unstructured documents (PDFs, scans).
- Multiple disconnected legacy systems.
- Strict compliance and data security requirements.
- Need for human oversight at key decision points.
Positive Outcomes:
80%
Reduction in Processing Time
99.7%
Data Entry Accuracy
45%
Increase in Application Throughput
"The automation
solution from Developers.dev transformed our lending operations. We're now faster,
more accurate, and our loan officers can focus on building customer relationships."
- Alex Royce, VP of Operations