Streamlining Loan Origination process with ElectroNeek RPA

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    The positive impact of the Robotic Process Automation (RPA) can be seen regardless of the industry, and banking is not an exception.

    RPA has all the components needed to modernize the banking industry by enabling banks to complete back-end tasks more accurately and efficiently without completely overhauling existing operating systems. Let’s look at one of the examples that are usually associated with exhausting paperwork on top of the mountain of boxes linked to the stressful process of moving into a new place – yes, I’m talking about a mortgage.

    top-view photography of houses at daytime

    In this article, I want to explain how to ‘debug’ this long and stressful process of mortgage origination, save nerves for both you and a borrower, and upgrade your customer relationships by adding RPA tools to the equation. 

    What you need for a mortgage origination

    According to the Consumer Financial Protection Bureau, you’ll need (at least) all these documents to apply for a mortgage:

    Generally, the packet of documents per application consists of 700 pages of documentation. Manually analyzing loads of papers might take several weeks. Considering the risks of lost documents, costly data entry errors, and compliance violations, modern borrowers (and bank institutions) automate repetitive processes with documentation using RPA tools to eliminate all these problems before they arise.

    Transform out-of-date, paper-based traditional mortgage origination process with a solution that actively engages borrowers and lenders in a collaborative and transparent ecosystem. Not only will you originate, close, and service loans faster and with greater efficiency, but you’ll elevate your customers’ experience to a new level of long-term value.

    RPA increases efficiency without any change to existing IT infrastructure

    How RPA transforms the mortgage origination process:

    ElectroNeek RPA is the best software for the Loan Origination automation

    Overall, ElectroNeek RPA is capable of streamlining a loan origination process by allowing your employees work on analytical tasks while RPA bots deal with repetitive operations with documents. The best part is that electroNeek can do it all. ElectroNeek is an easy drag-and-drop solution that automates any business process described by an instruction without any mistakes. It swiftly executes complex cross-application workflows in desktop and SaaS applications, saving you time and money.

    The Next Step

    Make the entire process of mortgage origination faster and more accurate by introducing ElectroNeek RPA today.

    Streamline your workflow by automating data management processes with ElectroNeek. Use Orchestrator in the Automation Hub to schedule, launch or stop your programmed robots anytime it is needed. Allow your employees to concentrate on building relationships with clients, leaving routine business processes automated.