Sageworks Online Loan Application

To effectively compete in the current market and grow the loan portfolio, banks and credit unions must expedite their processes to get back to customers quickly, and they need internal procedures that scale to allow the institution to grow. Sageworks Online Loan Application turns the institution's website into a digital branch that is efficient for lending staff and allows borrowers to complete applications at their convenience online.

Transcript

1. 1 P O R T F O L I O R I S K C R E D I T R I S K Your Website Online Application Back Office • Credit Report Access • Probability of Default • Loan Pricing • Document Library • Workflow • Quick Credit / Auto Decisioning • Credit Analysis • Risk Rating • Loan Pricing • Loan Administration • Client Portal • Electronic Tax Return Reader • ALLL (Current GAAP and Future GAAP) • Accounting for Purchased Loans • ALLL Forecasting • Stress Testing • ALLL Benchmarks • Bank Info Performance Required Documents 1) Business borrower completes application online, using the Electronic Tax Return Reader to auto-fill much of the application 2) Completed application feeds into the Sageworks Lending Platform for decisioning 3) Data flows throughout the life of the loan in Sageworks L E N D I N G Profile Questions Loan Application Pipeline (Internal View) Online Loan Application.
2. 2 CHALLENGES FACING INSTITUTIONS • Not having a true loan origination system that links the front office with the back office • Issues stemming from a home-grown, “jerry-rigged” loan origination system • Chasing down clients for updated documentation at the time of annual review and renewal • Increased appetite from millennial borrowers and other demographics for online services • Difficulty managing and tracking the loan application pipeline • Loan officers spending too much time on manual data entry Online Loan Application.