Despite advanced lending solutions, institutions still struggle with document management
For many years, institutions have been able to take advantage of advanced technology to streamline the lending process. Finastra LaserPro makes it possible to manage loan documentation across commercial, consumer and mortgage portfolios from a single platform. Unfortunately, reviewing and amending documents—whether manually or automatically generated—remains a resource-intensive and manual process.
LaserPro Conductor, designed to integrate seamlessly with LaserPro, radically streamlines the process between the production of document packages and the e‑signature, saving, and printing of finalized documents. Within Conductor’s cloud-hosted solution, documents can be made available to all stakeholders in a single location, mitigating the expense of dealing with multiple disparate systems. It thereby reduces errors, and moves transactions through the onboarding process significantly more quickly.
Addressing key documentation control and review requirements
Loan document editing and review must be improved; areas where institutions typically come up against problems include:
Multiple parties need to review and comment on the same document package: without a single system or source of truth, these reviews are hard to orchestrate.
Editing document packages among multiple people adds complexity: this can be remediated with a solution that provides all parties simultaneous access to the updated package.
Large-scale revisions: editing PDF documents while retaining the format and style of the original document needs to be straightforward and efficient.
Document comparisons and permissions: an accessible document comparison option enables easy review of changes made by all authorized editors.
Changing the eSign envelope: easily edit the eSign envelope before it reaches the eSign vendor.
Review progress through custom checklists: define a team checklist that tracks the loan package as it progresses through various roles.
LaserPro Conductor ties things together for an efficient and cost-effective document process
Conductor enables clients to experience a scalable software-as-a-service offering, powered by Microsoft Azure, which does not disrupt their current solution system. Conductor radically streamlines the process between the production of document packages and the e‑signature.
Multiple stakeholders can re‑order, add or remove the documents in the package, add additional signers and signature lines to documents in the package, add review comments associated with the document package, send the document package for e‑signature, and choose to print documents.
Transforming loan document control and review on a fully-digitized SaaS platform:
- Immediate accessibility: cloud-native features are available wherever users have an internet connection
- Enhanced user experience: review and editing in one system increase the visibility of loans across all users
- Lower risk: command and control over documents and document packages reduces the chance of errors
- Faster time to close: Replacing disconnected and error‑prone manual processes streamlines review and accelerates onboarding
Per an FDIC study, financial institutions that were high adopters of loan underwriting technologies earned a pre-tax ROA 21 basis points greater than low adopters, on average, and reported net income growth 7.7 percent higher.
Seamless integration to LaserPro
Conductor and LaserPro team up to create an intuitive, unified loan document management solution. LaserPro–the industry-leading comprehensive loan documentation system used across commercial, consumer, and mortgage applications–partners with Conductor to provide the flexibility, scalability, and reliability you need to grow your portfolios in today’s challenging marketplace.
Finastra’s end-to-end solution suite has you covered
Explore how LaserPro Conductor can elevate your onboarding process with the security of a fully-digital solution.