Loan processing in the banking industry involves a series of manual steps and can be time-consuming. RPA (Robotic Process Automation) technology can be used to simplify the loan processing process by automating pre-qualification, application registration, processing, underwriting, credit check, quality check, and loan funding. RPA helps reduce paperwork and provides benefits such as enhanced product growth, better fraud detection, easier audit management, predictive revenue management, and faster customer experience.

1. Eliminating Paperwork with RPA in
Loan Processing
Hyperautomation Solutions... Not just a platform
Simplify Loan Process for Significant Customer
Engagement

2. What is Loan Processing in
Banking Industry?
On any give day, banking industry receive multiple loan application as
per their requirement like car, home, education and others through
multiple channels as mobile, online, and offline. In today’s era
customer expects quick and instant approval of loans and other
services.
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3. With high volume of loan requests received in
an organization, banking service staff
encumbered with challenges like:
• Data collection and integration into system
• Verifying documents collected for loan
processing
• Maintaining register balance
• Scanning through multiple data in different
formats
Challenges for Loan
Processing in Banking
As per Moody Report, 56% of bankers claim
that their biggest challenge when initiating the
loan process is manual data collection and
the back-and-forth with the applicant.
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4. How RPA Simplify Loan
Processing?
Loan processing involves a series of step that
requires manual execution and time. RPA
automate the steps involved in the loan
processing and free up human efforts. The
steps that can be automated are-
• Pre-qualification Process
• Loan Application Registration
• Application Processing
• Underwriting Process
• Credit Check
• Quality Check
• Loan Funding
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5. Why RPA to Reduce Paperwork
in Loan Processing?
As customer in the digital era expect seamless
and hassle free resolution, RPA is the technology
that can be adapted to offer faster loan approval .
With pre-defined workflow organizations can
simplify the process data extraction, integration
and also mimic the human activity and reduce the
paper work.
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6. Benefits of RPA in
Loan Processing
From record management to processing loan funds, RPA
can be leveraged to get a lot more benefits. With RPA in
loan processing banking organization can -
• Enhance Product Growth
• Better Fraud Detection
• Easier Audit Management
• Predictive Revenue Management
• Accelerate Customer Experience
Hyperautomation Solutions... Not just a platform

7. Hyperautomation Solutions... Not just a platform
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