Before, loan officers receive hundreds or even thousands of applications in a day, in addition to face-to-face interactions and queries, all these needs to be transacted or at least assisted. Because each document requires carefully tracking and reviewing, there could be some drawbacks on the application process—or worse, some documents could be misplaced and leads could look for other loan providers.
With Lgorithm Solutions’ technology and lending automation, you could process every applicant and their documents, resulting in more reliable results and higher quality.
Speed and Scalability
Because of increased efficiency and productivity, a lender’s document review and verification can happen within a day, shortening time frames. Depending on the size of lending companies, our solutions are highly scalable and could empower start-up lending companies and financial technology startups even with minimal manpower.