DoxTek recently secured a project to help Celtic Bank streamline their Loan Underwriting Process. Celtic Bank is a nationwide lender and leading provider of SBA and USDA loans, SBA 7 (a) loans, secured business loans, small business loans, real estate and construction loans. They were recognized by the Small Business Administration (“SBA”) as SBA Lender of the Year for 2005, 2006, 2007, 2009 and 2010.
Celtic Bank is well known for their flexible loan approval process and their ability to have individual underwriters present a client’s loan directly to the banks loan approval committee.
In an effort to continue providing the quick turn around and superior customer service they are known for, Celtic Bank needed a way to help manager the volumes of paper required for a complete loan packet. By leveraging the Kofax Capture software already used by the bank, and adding the workflow and business process capabilities of the Hyland/OnBase software product, DoxTek was able to design a solution to this problem. The new system allows for emails received directly from the field to be routed to the underwriting team for immediate processing. Additional trailing documents sent to individual underwriters can be easily added to the loan approval packet directly from their Outlook email program. Once closed loan information is communicated to the banks ICORE360 core processing system along with all documents associated with a particular loan packet.
Reports and notifications are also provided to help managers and executives identify key metrics and gain greater visibility into the entire process.