Reduce cost per loan
ezbob’s award-winning solution leverages the latest automation technologies to help you reduce the need for manual processes, which in turn reduces the cost per loan application.
Harness the latest technology to cut costs
Technology is profoundly changing the way we live. Whether it’s Alexa responding to our voice commands or drones delivering our shopping, machine intelligence is on the rise. It’s also now impacting on loan origination, helping banks and other financial institutions to improve decision-making, fight fraud and, importantly, increase profitability.
Slow, manual tasks - like processing paper loan applications, feeding fax machines, and conducting face-to-face meetings - dramatically inflate costs. Automating these tasks with sophisticated AI decisioning technology and access to multiple data sources reduces your overheads and standardises processes, reducing the likelihood of human error.
With just the click of a button, advanced automated software systems give you a comprehensive overview of relevant documents and any next steps needed. Document collection, review and verification occurs 24/7, drastically shortening origination times, reducing staff overheads, and reducing the overall cost per loan. And the best tools in the market integrate with your existing technology to improve the quality and speed of information gathering.
A more profitable outlook
Small business lending is historically expensive. ezbob’s cloud-based technology, when combined with the abundance of data now available, can help you to drive down loan origination costs.
We can support your transition from paper-based processes to digital origination and servicing capabilities, reducing costs by up to 80% with full automation and cost-efficient access to client data.
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