Credit union execs: “Park a bot” on all of the document processing needed to close loans Automation for closing residential loans is defined as using the latest digital automation technology (such as robotic process automation or RPA, or artificial intelligence or AI) to speed throughput of document processing, while reducing human-induced errors and improving member …
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Most workers in the business world believe that reconciliations are a routine task that only accountants deal with as part of their jobs. However, in the credit union industry, financial and operational reconciliations are a way of life for operations staff throughout the organization. Routine reconciliation tasks are often perceived as required drudgery and the …
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Save 500 to 7,000 hours/year processing indirect loans Automation for indirect loans is defined as using modern digital technology, such as robotic process automation (RPA) and/or artificial intelligence (AI) to process inbound loan applications to a credit union from non-credit union members—typically those at a car dealership who need financing for their vehicle purchases. At …
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RPA credit union bots can eliminate 500 to 2,000 hours of manual labor, every year Updating flood information for real-estate loans is a flood of work for any credit union. Every day, it involves a ton of manual, sit-at-the-computer labor. It requires that your credit union’s Business Analysts pull lots of data from lots of …
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