Loan Operations
Loan Operations
Our financial services cover the entire loan processing journey, from back-end activities like opening and managing customer applications to front-facing customer support.
Boosting Productivity, Accuracy, and Results for a Better Customer Experience
A wealth of competitors ranging from fintech startups to large tech firms have entered the lending and loan servicing market, setting customer expectations for a faster, simpler lending experience.
Whether your focus is consumer lending, mortgage processing services, credit services or auto loans, exceptional customer service is vital to maintaining a competitive edge.
But all too often, an inefficient, manual structure for handling application volumes, collecting necessary documentation, and verifying customer backgrounds during a loan’s processing stage leads to errors and delays that frustrate potential borrowers and chip away at your bottom line. At the same time, turnover in the customer service industry has surged to historic levels since the pandemic, impacting consistency and performance.
Enter Promantis loan processing outsourcing solutions:
As former industry operators – not career consultants – we know how to solve the challenges financial services organizations face, honed by our unique perspective as experienced advisors and hands-on BPO providers. We bring together the operational strategy, process transformation, and nearshore service delivery models needed to make your loan processing operations faster, scalable, streamlined, cost-effective, and productive:
- Transform your customer experience. Promantis combines robust service-level agreements (SLAs), the latest technologies, continuous training, and an optimized operating model to maximize performance. We are focused on delivering a faster response and timely, accurate information that enhances customer satisfaction and trust.
- Save time and resources with advanced technologies. In addition to process improvements, we bring the business and technical knowledge to optimize your loan processing operations with critical technology like automation, AI, machine learning, and analytics – streamlining workflows, automating tedious activities like document processing, delivering real-time insights that enable proactive decision-making, and more. Additionally, we can customize cutting-edge generative AI solutions that create more personalized interactions or help human agents effectively answer unexpected questions on the spot.
- Reduce turnover. With strong and proven recruiting, onboarding, and retention practices, we keep attrition below industry average at our nearshore delivery center’s – ensuring consistent performance. For example, we offer faster career progression opportunities than any captive shared services center.
- Mitigate risk. Our outsourced loan processors have deep experience navigating the stringent security and compliance requirements surrounding the financial services industry. Promantis delivers the tools, safeguards, and processes to help you migrate your loan processing operations with confidence.
Today’s borrowers demand speed and accessibility during the lending experience. Promantis’ loan processing service bring together the people, tools, and processes to meet changing customer behaviors and regulatory expectations head on.
Note: Improving operational excellence is a top priority for 67% of surveyed banking and finance leaders.
Loan Processing Services: Partnering with Promantis delivers instant access to best practices and the latest technologies to speed and streamline your loan processing operations, unlocking greater efficiency and productivity. We drive customer obsession with excellent service quality that permeates all loan processing steps, from initial application through completion.
Our services, operated from a secure “clean room” environment, include:
Loan Processing:
- Opening and processing a customer's loan application to completion.
- Reviewing loan applications for completeness and requesting additional information.
- Researching and evaluating a customer’s financial history and documents, including bank statements, pay stubs, award letters, credit history, and more
- Verifying application details and identifying discrepancies
- Accessing and reviewing various data sources at the federal, state, and local levels to identify prior criminal history and financial crimes risk
- Calculating and validating income for underwriting submission
- Collaborating with underwriters to process loans quickly, providing timely turnaround of customer applications and background verification requests
Customer Service:
- Achieving best-in-class customer service by meeting or exceeding customer experience KPIs like First Call Resolution and Customer Satisfaction Survey results
- Building relationships with prospective and existing customers
- Supporting multichannel communication methods, including phone, email, and chat
- Providing timely, accurate answers to customer questions about loan products, application requirements, approval processes, loan acceptance and denial, and more
- Providing application status updates
- Serving as the voice of your customers, identifying and suggesting improvements for process bottlenecks and inefficiencies