TREEV unveils new lending solution to more efficiently manage loan documents

International Journal of Micrographics & Optical Technology, 2003

TREEV has launched a "highly focused and customisable" lending application designed to capture and manage loan files throughout the lifetime of the customer relationship. The TREEV Lending Solution, aimed at improving efficiency and reducing operating expenses within financial services organizations (FSOs), offers functionality described as "unique to the lending process". Specific Lending Solution features include the ability to automatically capture and index loan information, manage missing, trailing, and expired documents, and retrieve all customer loan information with a single keystroke. Based on 17 years of experience in the financial services industry, TREEV has developed this browser-based solution to answer the specific operational requirements of FSOs, such as ensuring efficient management of the loan process, lowering operating expenses, reducing system maintenance, and minimizing non-compliance risks. Since 1986, TREEV has been a premier provider of software solutions and consulting services and has worked with over 1,500 financial organizations to transform paper-intensive operations into more efficient digital and automated processes.

The Lending Solution is designed to meet the loan document management needs for FSOs of any size. UnitedTrust, a $3 billion dollar commercial bank headquartered in Bridgewater, NJ, is an early adopter of the TREEV Lending Solution. According to Dirk Graham, loan operations manager at UnitedTrust, "The Lending Solution will enable us to clear exceptions faster, more easily capture loan documents, and provide instant access to needed loan information. All of this should result in lower overall operating costs, reduced risk, and improved data integrity."

Jim Hansen, senior vice president and chief information officer at Home State Bank, a $375 million bank in Loveland, Colorado, pointed out, "With a legacy system that did not meet our needs in the past, we were very selective when looking for a replacement system. We chose TREEV because they understand the financial services market. We chose the Lending Solution because it's equipped with unique features that greatly simplify our lending function." Hansen summarized, "While executive management understood the benefits of imaging, it was imperative that we had `buy-in' from our loan personnel. The TREEV Lending Solution is designed for lenders, and they love it. We saw immediate benefits like process improvement and more informed decision making."

Charles Brett, senior program director at META Group, confirmed, "There is no doubt that businesses can benefit from the conveniences offered by imaging applications. But, solutions that are tailored to meet unique line of business requirements can provide a faster return on investment than most generic imaging systems."

David E. MacWhorter, president and chief executive officer of TREEV, stated, "With more than 1,500 financial services customers nationwide, we have an invaluable resource for product and usability research. By involving our customers in the early stages of the solution development process, we have the ability to understand financial service organizations' day-to-day business problems and develop solutions to specifically address those challenges. Our Lending Solution is a direct result of this approach." MacWhorter added, "While the TREEV Lending Solution provides obvious benefits such as increased document quality, reduced risk, and improved customer service, the efficiencies of the effective management of loan documents are equally impressive. By eliminating the need to maintain paper files in the loan processing center, the savings in storage space costs alone can be substantial for FSOs."

TREEV Lending Solution Features:

Automates the tracking of expired, missing, and trailing documents through ad-hoc searching or the use of scheduled reports that can be distributed automatically to designated recipients.

Loan document export provides the ability to export folders and documents to CD or DVD.

Browser-based client eliminates the need to install software at client workstations and branch locations.

Multiple capture options enable financial institutions to capture loan documents at the point-of-origin using branch capture, fax, ICR, and/or OCR. Data is immediately accessible from remote locations once the information has been committed to the system.

Automates document recognition and indexing utilizes OMR and bar-coded coversheets and eliminates the need for manual indexing. Restricts access to qualified users to enable administrators to provide access to loan information based on a user's job function.

System auditing allows administrators to track user activity and detect security violations.

Single customer view of loan information enables loan personnel to retrieve customer data using a common index value. Users can then view all loans and loan documents associated with a specific customer. Enterprise licensing allows financial institutions to implement the Lending Solution to all qualified users and multiple locations.