ILINX workflows drive credit union's indirect lending evolution.
A credit union realized its outdated system slowed its ability to approve and fund indirect loans – costing it auto dealer business and impeding growth overall. Three associates spent 100% of their time separating, scanning, and manually indexing loan documents. Once information was onboarded, the company’s aged, unreliable, and unsupportable workflow tool hindered important lending operations, including reporting.
The credit union streamlined its indirect lending processes with cloud-hosted ILINX Capture and Intelligent Workflow. The fully-supported SaaS solution automates document intake, eliminating the need for manual handling. Information is routed through highly-effective workflows that support review, approval, and fund distribution. The ILINX solution flags bottlenecks and sends notifications to prompt speedy resolution.
ILINX efficiency supports the credit union’s $90M per month asset stream, allowing it to process loans faster without increasing staff. Labor-intensive manual processing has been replaced with exceptions processing, allowing the company to make determinations and fund loans quickly. ILINX analytics enables real-time reporting and actionable insights that ultimately make the credit union more competitive in its market.