PDFFacilitating Paperless Loans
Solutions for Paperless Lending
In an effort to remain competitive and compliant, improve customer service and reduce costs, a growing number of financial organizations are now using paperless lending technology to secure loans for their customers.
Although using loan origination software (LOS) results in a more efficient means of completing a loan application, many LOS systems are limited in their ability to offer a truly end-to-end paperless solution.
As a result, most Banks must print out completed loan documents from the LOS and then follow tedious manual approval processes. Completed applications are then filed in hard copy, taking up valuable storage space and are not easy to access across multiple locations. Over time, these paper files may be duplicated, misfiled or lost, leaving businesses exposed and at risk in the event of an audit or disaster.
Doxim Loan Origination System (LOS) Manager
Doxim LOS Manager is a cost effective application that integrates with existing LOS technology, helping make your end-to-end lending process paperless.
Once a loan application is completed in the LOS, Doxim LOS Manager takes the file and uploads the loan documents to Doxim Enterprise Content Manager (ECM), a secure, centralized, web based archive.
Doxim easyCapture then provides the document imaging capabilities needed to capture non-LOS originated documents such as proof of employment, and third party appraisals, for upload and inclusion in the loan file in Doxim ECM. It can also be used to capture and upload existing physical loan documents, liberating the storage space they occupy for other uses.
DOXIM LOS Manager enables organizations to:
Improve document access by:
- Providing secure, online access to loan files across branches through Doxim ECM
- Electronically tracking and storing customer application forms including non LOS originated documents such as proof of employment.
Improve customer service by:
- Reducing response times to customer inquiries
- Providing authorized staff with access to customer loan documents across multiple branches
Reduce operating costs by:
- Eliminating the need for expensive physical storage space
- Reducing incidents of misplaced/misfiled hard copy loan documents
- Decreasing paper usage and handling
- Eliminating courier costs and associated delays
Improve regulatory compliance by:
- Reducing exposure during audits by ensuring access to complete files
- Employing disaster recovery and business continuity strategies
Find Out More
Read a Doxim Paperless Lending brochure
Read the Top 10 Reasons Why Paperless Loans Makes Sense
Find out more about Doxim easyCapture
Find out more about Doxim ECM
