Customer Onboarding System
for Loan Originator, Acumen Finance

As a loan originator, one of Acumen Finance’s main channel of business came through its Loan Application Form on its website.

With a multiple third-party system that wasn’t fully integrated, Acumen Finance faced these major drawbacks:

Partial Automation

Manual processes were still required to create credit documentation from the loan application data received.

Incomplete Data

Repeated contact with loan applicants over the phone were common as a result of incomplete data or documentation.

Avoidable Cost

Manual preparation of loan application documents incurred legal and credit specialist fees that could have been avoided.

Sluggish Turnaround

Due to the menial and complex process it took up to 5 days to process a single loan application.

However, they faced a major snag

With a multiple third-party system that was slow and dated, any failure of one application resulted in a breakdown of the entire system.

The solution was simple…

With an integrated cloud native ecosystem, we were able to amalgamate various functions into one single solution that is scalable, reliable, and most importantly, secure.

An amazing solution that’s easy on the pocket

With a fully customisable system that is scalable to their needs, they paid for only what they used, significantly reducing their cost.

“We are excited about the fact that we can assess commercial loans at lightning speed based on the automation and tech in the back-end!”
Nathan
CEO of Acumen Finance

How you can benefit with this system

Cost Reduction

Significantly reduce legal and credit specialist fees from the time saved with auto generated documents.

Execution Speed

What used to take 3 or 5 days is now reduced to 5 minutes or 4 hours depending on case complexity.

Data Accuracy

A robust data collection system eliminated incomplete application data and repeated back and forth communications.

Automation Efficiency

Automation enables a work force to focus on more critical, client-facing tasks than repeated and menial operations.

Litigation Support

Rest easy knowing that you have complete documentation and an audit log available, in the event that it is needed.

Increased Conversions

Close more clients when prospects know that the loan processing can be completed quickly within a day.

The loan application process

The sales process begins here with the loan application form.

Collect Data​

  • Borrower and guarantor details
  • Project description and parameters
  • Available securities to underline the loan 
  • Mandatory documentation

Generate Proposal

  • A.I. automatically generates an engagement letter
  • Dynamic terms and conditions
  • Obtain e-signature & consent

Generate Credit Paper

  • A.I. automatically generates a credit paper and sends it to the sourcing specialist and paralegal
  • File supporting documentation

Customer's Confirmation Email

Customers will immediately receive an automated confirmation email after a loan application form submission with the following PDF documents:

  • Loan Application Summary
  • Terms and Conditions

Successful Loan Application Email

A second email is sent concurrently to the principal with the following auto generated documents in its final format:

  • Loan Application Details
  • Loan Application Summary
  • Client’s Credit Summary
  • Terms & Conditions (DOC & PDF)

Contact us and let’s explore how we can 
do the same for your business.