Loan Review Processing Challenges

automated loan review processing scanningFinancial organizations who provide loans and other capital and servicing solutions can often run into problems with processing and storing information. Scanning and manually classifying loan documents takes up a significant amount of time, resources, and leaves documents vulnerable to being misfiled or misplaced. Many organizations are switching to automated loan review processing with high speed document scanning for faster throughput, reduced handling and preparation, higher quality documents, and more. Learn more about high-speed document scanning services.

There are various challenges to manually managing and reviewing loan documents, such as document preparation, slow scanner throughput (with scanner operators having to refill the document feeders multiple times), software processing delays, limited workflow visibility that requires operators to perform a number of manual steps to determine the status of a document, and the risk of lost pages. Many financial organizations have a significant backlog of loans that still need to be processed due to this. This also puts a damper on customer service if an organization doesn’t have the information they need to answer a customer’s questions regarding payments right away.

High Speed Document Scanning for Loans

Many financial organizations are turning to high speed document scanning to automate the loan review process. Here are just a few reasons why:

  • high speed document scanning servicesHigh quality and efficient processing
  • Reduced document preparation costs
  • Allowance for scanning documents of varying thickness and size in a single pass
  • Intelligent document recognition classifies documents and extracts metadata automatically
  • Streamlined document preparation: No need to insert separator sheets between each document, since document classification automatically determines the start of a new document.
  • Faster scanning throughput: Multiple loan packages can be processed and automatically batched.
  • Reduced labor
  • Faster delivery of images
  • Better pricing model & license fee
  • No processing backlog: Loan documents can be scanned within 24 hours of purchase

For any additional questions, click here to view our document scanning FAQ.

Contact Us For High Speed Document Scanning

Southwest Solutions Group® is here to help with your high speed document scanning project. We will also scan, index, and upload a box of your records so you can try our services before you buy. For more information or to speak with a document scanning specialist, call us at 1-800-803-1083 or send us a message today.

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