As commercial lending volumes continue to increase, financial institutions are challenged to manage their loan pipelines profitably, as efficiently as possible. What many are finding, however, is that the traditional approach to commercial lending is riddled with process risk and opportunities for error – all of which can have a direct impact on an institution’s bottom line.
What are the potential consequences of process risk as it relates to commercial lending? Unaddressed inefficiencies in loan processing and origination, caused by a “touch twice” culture when it comes to facilitating commercial loan applications can breed an environment that is conducive to fraud and ripe for revenue loss.
ARGO’s Steve Nippak had the opportunity to share his insights into the very real problem of process risk in commercial mortgage lending in MortgageOrb, offering his take on how, by embracing automation, financial institutions can help mitigate -- and prevent -- process risk in their commercial lending departments.
Read the full article here.
To learn more about ARGO's Commercial Lending, and how it is helping institutions realize greater operational efficiencies and a reduction in process risk, download our Commercial Lending Solution Brief.