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How To Reduce Lending Costs and Risks with Electronic Signature Process Management

Despite efforts over the past decades to streamline lending processes, banks still rely on paper for the execution of customer-facing business transactions, such as loan and mortgage origination. This not only prevents banks from fully automating their processes and gaining transparency and control of their transactions. It produces billions of dollars of potentially defective assets that can result in loan losses and hefty regulatory fines. While investments in people and technology have been made to improve post-transaction audit and quality assurance, the risk of improperly executed business transactions remains extremely high.

This article discusses how lenders can reduce the errors, costs and risks of loan processing by moving to straight-through-processing with the help of an electronic signature process management system. Lenders will learn how electronic signature process management can be used to eliminate errors by enforcing proper execution and signature rules, while maximizing operational efficiency and customer satisfaction across all sales and service channels.