With more than 250 billion in assets and 2,000 loans processed daily at its 3,000+ branches, this top 10 US bank was challenged with reducing the number of processing errors. Despite having completely automated its back-office operations with automated workflows and imaging, the loans were still being executed using pen and paper resulting in unintended errors and a series of ancillary problems and risks.
In a new case study by ESRA member Silanis, a senior level executive from the bank describes how they moved to paperless loan processing using e-signatures and the benefits they’ve seen to-date, including:
|90% reduction in processing errors|
|50% reduction in future risk exposure|
|80% of document handling costs eliminated|
|Redeployment of 95,000 personnel hours per year|
|Improved customer experience and banker experience|
|Compliance requirements exceeded|
Download the case study (PDF).