Sageworks Lending Solution
Growing the loan portfolio
With Sageworks Lending Solution, the institution can grow revenue through digital channels, while analyzing and approving loans quickly based on automated templates and rules that guarantee consistency and thorough documentation.
- Book more loans and with a faster turnaround
- Avoid bottlenecks with data entry
- Eliminate manual errors and inconsistency
- Manage higher loan volume with existing staff
- Easily prepare for loan review, audits or exams
- Reduce workload placed on credit analysts
Hear from our clients
Book loans faster
Lenders at Union State Bank in Texas were using different methods for underwriting loans at each of its branches. With Sageworks Lending Solution officers were able to upload and verify numbers faster than ever.
“I can do three returns in the time it takes someone else to do one, which is a huge difference… It really gives us that step ahead of our competitors. It frees up time that loan officer would be spending on underwriting and allows them to get out there and meet with customers and build the portfolio.”
Union State Bank
Build a Scalable Origination Process
Chemung Canal Trust Company had aggressive loan-growth goals but many manual steps in the lending process. To allow the bank to scale, the institution invested in Sageworks.
“You always get the person that says, ‘It feels like a 4…’ [With Sageworks] we are more uniform, and we are embracing a process that follows through.”
Lucimar Foo Siam Escudero
Chemung Canal Trust Company
Build a better business borrower experience
Even as life seems to be modernizing with technologies to make things easier, faster and cheaper (Uber, Amazon, online banking, etc.), the world of the business borrower has not seen these improvements. Small business borrowers are frustrated by slow, paper-based application processes. To be competitive with alt-lenders and fintechs, banks and credit unions need to build a better business borrower experience.
- Easy to use digital loan application
- Configurable templates for faster turnaround
- Electronic Tax Return Reader
- Transparent and consistent pipeline reporting
- Accurate spreading and global analysis
- Real-time access to credit bureau scores and debt
- Standardized loan docs and boarding to the core
- Single platform for different loan types
- Central repository for borrower information
- Streamlined origination workflow through notifications and tracking
- Auto-decisioning for smaller exposure loans
Digitize loan origination
Many banks and credit unions are beginning to tap into an underutilized opportunity in small business lending. New technologies can make SMB lending more profitable, allowing these institutions to service their clients more often.
Challenges with spreadsheets in lending
As loan portfolios become larger, more diverse and complex, banks need to adapt their documentation process to keep pace with portfolio changes. Depending on spreadsheets for documentation and reporting can leave the bank vulnerable to significant risks, and it may make preparing for regulator visits more difficult.