Eliminate manual input of customer data and adopt smarter processes to reduce the cost of lending.
smarter document management
Eliminate manual input and paper files with powerful document management features.
Decipher Documents features an intuitive Microsoft Word Add-In to adds special fields to document templates. This feature facilitates automatic pre-filling of document templates with prospect information, internal information, underwriter notes, operations information, and more. Eliminate repetitive manual typing so your team can focus on revenue-building activities.
Go Paperless with Decipher’s built-in E-signature solution. Track all documents sent from Decipher. Send to single or multiple electronic signature recipients and benefit from intelligent routing to allow lenders to select multiple recipients all in one step even if receiving separate documents. Receive alerts as soon as documents are signed and execute them directly within Decipher.
Decipher Documents allows embedding of document templates directly into digital applications and customer portals to facilitate quick close. Documents automatically pre-fill borrower information to reduce manual work so your team can get back to prospects in minutes not days. Documents are tracked directly within each deal or loan package.
Automatically generate your Credit Memo and Client Summary, consolidating data from loan fields, collateral, and internal Decipher sections and pre-filling the information directly into your credit memo template. Reduce the time it takes to communicate the details of commercial loan analysis and speed up lending decisions.
Store all document templates in Decipher’s Document Manager for use by all of your teams. Store them in groups for one-click sending to automate sales, onboarding, closings, and more. Store all documents in connection with applications categorized by content within Decipher so all your documents are in one place.
Choosing a Feasible Loan Document Management Software
The loan processing system involves a lot of complex steps that are the reasons behind delay in loan origination. Even with a smart loan origination system, lenders struggle with document processing. Figuring out whether the applicant is providing complete and true information is difficult and time consuming. Manual inputs of customer data can also be full of errors. Therefore, adoption of loan document management software becomes necessary. Nowadays, smart software applications are available for the credit team to manage the documents in a systematic way. If your software is productive, it will accelerate the loan origination process with error-free calculations. While choosing software, you have to consider some important factors. Below are important features:
How to choose a smart loan document management system
- Search for a software that has automatic prefill features for document completion. Whether it is internal information, operational information, underwriter notes or anything else, manual writing repetition should be eliminated to ease and speed up the process of form filling.
- Is the software capable of pre-filling documents? This feature helps speed up closing by prefilling borrower information. Also, the risk of human error during manual workflow is high so automation in document management is key.
- E-signature is also a crucial feature to expect in a loan document software system. Your document management should be paperless which is only possible if a built-in e-signature solution is available.
- The software must be capable of generating automatic credit memo and client summary. Automating client documentation for presentation to your credit committee drastically reduces the communication time and accelerates the lending process.
How to choose a feasible software solution
- Always go for a reputable software company that has a good track record of providing feasible solutions for lenders.
- It is ideal if the software has customization features according to the client requirements.
- The software provider should be committed to maintaining high security levels for customer data. From personal information to bank account details, a lot of sensitive data need robust security.
- Automated loan document management systems can encounter different types of technical issues. Document templates may need to be changed or maintained as well. In order to maintain a seamless workflow, client support should be available via email and ideally via a chat system.
This is some useful information to help you in choosing the feasible loan document management software.