September 09, 2013

IBM has released a new digital loan processing platform, designed to allow banks to engage with borrowers in real-time during every aspect of the loan application process.

According to IBM, the platform integrates the core lending business process with mobile applications and analytics and allows borrowers to apply online, upload documents, act on inquiries and monitor loan approval status all from their smartphone or tablet device.

Leveraging the IBM Digital Loan Platform solution, application forms are automatically aggregated and indexed to ensure consistency for efficient underwriting, the company claimed. In addition, the solution offers deep social analytics to mine customer data.

[See Also: IBM Reaches Multibillion Dollar Outsourcing deal with UniCredit]

ABOUT THE AUTHOR
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...