Fix the Broken Processes in Commercial Lending with Holistic Automation

The commercial lending business has witnessed significant growth in recent years. The increasing demand for commercial loans has posed challenges for credit unions and commercial banking institutions to keep up. One of the primary reasons for the slack in underperformance of commercial lending can be attributed to the broken processes in many US banks. The disjointed workflows result in high operating costs, making banks less competitive and vulnerable to competition from alternative lenders with streamlined processes and faster loan approval times for borrowers.

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Why broken processes can be a deterrent in growth of commercial lending process

• Dependency on physical documents instead of proven automation
• Manual intervention & paper documents cutting into profitability and efficiency

Primary reasons for the broken processes

• Lack of innovative technology is spelling doom for financial institutions
• Commercial lenders miss out on opportunities to optimize customer experience with legacy systems

The right commercial lending software can fix broken loan management

• Document Management and Integration are key to optimizing loan processing
• Commercial Loan Software provides risk management and external checks to 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 Commercial Lending Solution

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