How Commercial Loan Approval Works in AccuAccount

Did you know that AccuAccount offers an intuitive loan approval capability, practically eliminating the need for routing sheets?

With AccuApproval for AccuAccount, your bank or credit union can achieve a scalable workflow that aligns with your commercial lending process. It’s a great option for financial institutions looking to streamline loan routing and approval—but without the cost of a loan origination system (LOS) or customer relationship management (CRM) system.

Let’s take a closer look at how it works.

Quick Overview: AccuApproval

Included with our AccuAccount Enterprise plans, AccuApproval can be adapted to your lending, credit analysis, and underwriting needs. Once enabled, AccuApproval provides a predictable and trackable solution for moving applications through the approval process. Enhanced visibility, increased collaboration, system consolidation, and early document capture are just a few benefits. Watch our brief overview video to learn more:

Route Smarter (and with Less Paper)

Unlike paper routing sheets, AccuApproval is natively integrated into AccuAccount—Alogent’s imaging and tracking system that’s optimized for commercial lending. Adding a new application is quick and easy—even for non-technical users.
 

Routing to an analyst or another team takes just a few seconds. Assigned users are automatically notified, prompting them to take action.
 

Dashboards keep staff in the loop about active loan applications requiring review.
 

Timers help lenders, credit analysts, and management identify bottlenecks and avoid delays.
 

At any point during the approval process, staff can view the detailed history for an application.
 

Approving an application automatically notifies the lender and stops timers from tracking.
 

Upon an application’s approval, lending admin teams can be reminded to take action as part of the booking process. Converting an approved application to a booked loan preserves the application’s history in AccuAccount. That means less data entry and better insights for team members.

What about denied or withdrawn applications? AccuApproval can support these workflows, too.

Request a Demo of AccuApproval

AccuApproval offers a simple, powerful solution for streamlining your financial institution’s approval process. 

Request a demo to find out if AccuApproval is right for your needs

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