Whitepaper: Disjointed Commercial Loan Origination in US Banks


Disjointed Commercial Loan Origination in US Banks

The commercial lending business has witnessed exceptional growth over the recent years. Given the burgeoning demand for commercial loans, credit unions and commercial banking institutions are struggling to keep pace with this growth. The primary cause that can be attributed to the poor performance of banks in lending is the disjointed lending process existing in a majority of the banks in the US. The disjointed workflows lead to high operating costs which renders banks less competitive and susceptible to challenges from alternate lenders who have streamlined processes and quicker loan approval times for borrowers.


Why broken processes are acting as a deterrent to growth in commercial lending

  • Dependency on paper documents instead of proven automation and lending software
  • Manual Intervention & paper documents cutting into profitability

Primary reasons for the broken processes

  • The Lack of Innovative technology is spelling doom for financial institutions
  • With antiquated systems, commercial lenders miss out on opportunities to optimize the customer experience

How having the right commercial lending software can fix broken loan management

  • Document Management and Integration are key to optimizing loan processing
  • Using Commercial Loan Software that can provide risk management and external checks can speed up onboarding and underwriting.

Essential functionalities for a commercial lending solution

  • One UI to track the closing, booking and disbursement of each loan application
  • Provide monitoring of special assets

Newgen’s Unified Platform for commercial lending

  • Able to service all lending products on a single platform
  • Provide loan portfolio monitoring with automated tracking built-in

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