Combining the core lending business process with mobile applications and analytics, the new system offers every aspect of the loan application process in real-time, including applying online, uploading documents, acting on inquiries and monitoring loan approval status.
Ideal for smartphone or tablet devices, the new secure integrated managed services platform will allow customers to apply for and quickly close a mortgage loan, in context of their busy lives, how when and where they desire from any mobile device.
IBM financial services sector general manager Eric Ray said, "By partnering with IBM, lenders can out-maneuver the competition with a rich digital customer experience that gives borrowers the self service and transparency they desire."
In a situation, where mortgage lenders will have to administer application data and documents, provide suitable loan products and close loans swiftly, the IBM Digital Loan Platform automatically aggregated and indexed application forms to ensure consistency for efficient underwriting.
This capability is beneficial for both borrowers and lenders as it significantly compressed cycle times, reduce origination costs, lessen errors, and compliance enforcement.
