Agent Loan Notices
Banks must maintain up-to-date information on their outstanding loans in their internal financial systems (such as Loan IQ). This process requires efficient classification and information extraction from loan notices submitted from other banks. Identifying the loan notice type and entering relevant data into Loan IQ is a repetitive, resource-intensive task with cyclical volume. Errors and inefficiencies lead to bottlenecks for customers.
WorkFusion improves turnaround time and accuracy for processing agent loan notices. The process includes extracting loan data from scanned faxes and updating Loan IQ.