How would your bank or credit union benefit if they were able to eliminate paper? Banks and other organizations in the financial services industry face many challenges as they try to move forward in the digital world. They are looking to update outdated technology, comply with federal regulations, and keep up with ever-growing consumer demands. Technology can help automate core business processes. See how Community Business Lenders (CBLC) was able to create a business that would have almost been impossible on paper.
CBLSC is an Iowa-based credit union that offers loans, underwriting, documenting, and closing services to their members. Managing a loan business utilizes a tremendous amount of paper, can become expensive and is very time-consuming. On average, loan packets are thousands of pages long and need to be distributed to multiple people across multiple states. Rather than miring their business in paper, CBLSC went looking for a solution that would allow them to run paper-free from the very beginning.
CBLSC worked with Imagetek, a Digitech Systems reseller, to implement PaperVision® Capture to scan loan documents into digital files and ImageSilo® to store the documents in the cloud. They credit the technology with helping them set up a business model that is so successful they are already branching out to other states. According to Ginger Heckman, Manager of Business Development, “I don’t know that we could do the business we do without ImageSilo. The physical aspect of trying to deliver what our partners need on paper would be impossible.”
Do you want to transform your organization into the digital world? Read on to see the benefits CBLSC was able to achieve.