IBM Corp. has launched a new comprehensive digital-loan processing platform that will allow borrowers to engage in every aspect of the loan application process: applying online, uploading documents, acting on inquiries and monitoring loan approval status — all from their smartphone or tablet device.
“We believe delivering a transformational customer experience will differentiate future mortgage leaders from the pack,” Eric Ray, IBM general manager, Financial Services Sector 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.”
With the new IBM Digital Loan Platform solution, application forms are automatically aggregated and indexed to ensure consistency for efficient underwriting. As a result, both borrowers and lenders benefit from significantly compressed cycle times, lower origination costs, reduction in errors, and compliance enforcement.
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