ING Bank Mortgage Loan Application Process Efficient and Easy to Use

"ING has achieved tremendous operational benefits from the solution implemented by ImageSource®. As the users have transitioned and adopted the system, improved productivity metrics have been substantial."

– Brian Parker, Chief Information Officer, ING Bank

ING Bank (Australia) Ltd is part of the Netherlands based ING Group and is one of the world’s largest banking and financial services companies.  In 2003, ING Bank made it a priority to reduce the gap between mortgage loan application and settlement time. Additionally, they saw a need to provide staff with the mechanism to track the status of loans at any stage in their processing. The bank’s goal was to make the mortgage loan application process easy and efficient for the prospective buyer and the agent. Automated workflow routing achieves this goal by triggering work events, such as correspondence, to its independent agents and internal staff.

Case Summary
In order to improve the mortgage loan application process, ING Bank implemented an Enterprise Content Management (ECM) infrastructure. The solution integrates a fax server with a document archive and retrieval system. Combined with a workflow system, the ECM solution facilitates loan approval tracking and provides advanced work management capabilities.

The ImageSource Solution
Initially, ImageSource worked with ING to develop the following key objectives:
› Reduce processing times between branch locations and operations center
› Improve cycle time
› Lower unit costs
› Provide greater scalability
› Ensure leading service levels

The solution, designed and integrated by ImageSource, utilizes Oracle|Stellent®
Image Process Management (IPM) for content storage, retrieval and workflow. Kofax® Ascent Capture, used for image scanning and data validation was seamlessly integrated with IPM by utilizing the ImageSource ILINX Release Script. The ImageSource ILINX Import Agent provides a custom integration with Captaris RightFax to automate inbound fax requirements. Once a fax is received by RightFax, ILINX Import Agent pulls the folder through Kofax Ascent Capture, where it is indexed, segmented and QC’d. The superior functionality of ILINX Import Agent is also used for the routing and processing of Word documents. A macro looks for specific fields in a Word document, such as a customer name or loan number, and automatically uses that data in renaming the document when it is saved to a directory. Import Agent monitors the index values in the document name and releases it to Ascent Capture with pre-filled index fields. A scanning station was implemented, where documents are scanned, indexed and turned into images. IPM has been configured to manage and archive incoming fax streams, scanned email documents and internally generated documents during the loan approval process. This complex workflow system captures forms and data collected, and automatically routes them as a consolidated work package to the appropriate person.

The Bottom Line
Enterprise fax server infrastructure has streamlined inbound document processing, eliminating paper for ING Bank. Hard copy documents are now managed by a dependable and function-rich imaging infrastructure. ING’s integrated document archive and retrieval system manages and archives fax streams, emails and any documents received in the mail room. It is supplemented by a workflow system that facilitates loan approval tracking and provides advanced work management capabilities. In addition, the integrated technology is capable of automatically capturing and indexing internally generated Microsoft office documents. ING Bank and ImageSource partnered to create a solution that has improved cycle times and lowered the labor costs associated with loan approval. Additional processing benefits have been derived from OCR through the use of bar codes and cover sheets on incoming loan applications received via fax and the mailroom. Because ING has anticipated large growth due to refinancing activities, ImageSource designed and implemented the platform to support scalability. This will reduce ongoing capital expenditures as transaction volumes grow and system expansion is required.