Commercial Bank Reduces Loan Application Effort by 60% for Faster Service

Industry : Banking & Finance

Function : Accounting and Finance


60% reduction in manual data entry

60% reduction in manual data entry

Improved customer experience

Improved customer experience

Faster processing time

Faster processing time

Company Profile

Super-regional financial services company serving individuals, small businesses, commercial, and wealth management clients, operating in Midwest and Western United States.

Automation Case Study Snapshot:

  • Industry: Banking
  • Challenge: Manual Data Entry
  • Solution: Custom Automation
  • Outcome: Improved customer experience and faster service

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Challenge: Manual Document Processing

Our client provides lending solutions to small and medium-sized US enterprises. Their existing working capital and commercial loan origination process involved a high degree of manual document handling and data entry.

A bank relationship manager would meet with a customer to gather data, determine the loan type and outline the necessary documentation. Once all documentation was gathered and signed, the relationship manager manually scanned documents into the loan underwriting system. This approach was tedious and error-prone for the customer and the loan officer. Leadership sought a streamlined solution to reduce manual work and improve customer experience.

Solution: Customer Onboarding Automation

By reimagining the loan application process with the WonderBotz robot-way approach, the client transformed its lending business. Once the relationship manager determines the type of loan, the Customer Onboarding Automation creates and prepopulates a DocuSign envelope for all required documentation. After the customer completes and signs this envelope, the solution uses RPA and IBM DataCap to extract and confirm electronic data in DocuSign and customer’s documents. All information is entered into the Capitalstream CS10 loan underwriting platform.

The new process increased customer satisfaction, decreased loan processing time, and reduced manual data entry by 60%.