Wolters Kluwer brings SaaS workflow to loans processing
04 October 2017 | 2370 views | 0
Source: Wolters Kluwer
Wolters Kluwer today announced the release of CASH Workflow, a SaaS-based commercial lending workflow solution, that helps lenders more efficiently originate loans by converting back office paper processes into a digital workflow.
Through CASH Workflow users can create custom worklflows that match their existing commercial loan origination process or begin anew.
“One of the biggest pain points in commercial lending is the inability to cost efficiently scale these lines of business,” said David O’Connell, Senior Analyst, Wholesale Banking at Aite Group. “Compounding this is the perception in the industry that shifting from a paper-based origination process to an automated one will create project complexity. Attractive about CASH Workflow is its DIY functionality for creating process automation that reduces existing paper-based workflow bottlenecks.”
CASH Workflow makes it easy for lenders to build a mirror of their commercial lending workflow or setup a new process with its drag-and-drop configuration tool. The tool uses an easy to understand visual interface to chart the process and facilitate the build out from application to close. Once configured, CASH Workflow provides a consolidated workspace and delivers automated activity alerts to loan officers to take action, as needed.
“Our commercial lending process had become complex with a mix of software and manual processes reducing our efficiency,” said Teresa Freborg, Director, Member Business Services at Northwest Community Credit Union. “CASH Workflow has given us the ability to formalize our process, find improvements and time savings, and avoid critical errors.”
Commercial lending workflows vary by financial institution but one constant remains - complexity. Another way CASH Workflow works hard to simplify and drive efficiency across the origination process is through responsive design and SaaS-based connectivity. Lenders can securely and easily access CASH Workflow from a variety of Internet connected devices, from tablets to smartphones, on the go with seamless adaptation across screen sizes. These capabilities give loan officers the flexibility to keep the origination process moving without being at their desks.
“With the commercial market remaining competitive, lenders that implement a workflow solution will find themselves at a significant advantage to better serve their clients and grow their business,” said Samir Agarwal, Vice President and Segment Leader of Community Banks & Credit Unions at Wolters Kluwer. “CASH Workflow is the logical extension of our CASH Suite modules, bringing them together into a single dashboard to help lenders better serve their clients and grow their business through better pipeline visibility.”