Largest Efficiency Opportunity for Community Banks – Automating Credit Review and Renewal of Business Loans Under $250k

89% of C&I business loans held by community banks, banks under $10 Billion, are under $250,000 according to FDIC. 

Most financial institutions monitor, risk-rate and schedule portfolio reviews for these loans just as they would for loans over $1MM.  Officers and relationship manager contact the customer for financial and other information for renewals and review.  Data is captured in spreadsheets and shared.  Credit officers complete financial and collateral analysis.  Compliance information is documented.  These loans follow workflow processes designed for much larger and more complex loans.  The result is a highly inefficient process for what is truly required for these loans and a unwieldly customer experience.

Sound and compliant automation today allows a stream-lined and efficient process.  Our Automated Lending EXperience (ALEX) provides sound credit monitoring and underwriting in monitoring and renewing these loans.  Monitoring reports are automatically generated with exceptions and action recommendations.  Reviews and renewals are completed with digital automation.  And best of all, the customer experience is greatly enhanced with automated notifications, simplified processes and a great experience through e-sign.  As Mike Moore of Pennian Bank pointed out, “The simplified and sound process of ALEX is greatly simplified over the workflow required for our larger and more complex loans.”

Learn more about our Automated Lending EXperience for credit monitoring and loan renewals at RCGILTNER.