Many organizations are stuck in a state of digitization purgatory. Although they’ve moved away from paper forms, their processes still rely on PDF forms, manual routing through email, and spreadsheets. This may seem efficient, but it’s not a step towards digitalization or true digital transformation.

Ever wonder how some businesses seem to adapt and thrive in a rapidly changing world?
The answer: No-code/low-code tools like Nintex.

Imagine a workflow encompassing form building, automated routing, document generation, RPA interactions with legacy systems, and even eSignatures — all managed under one platform!

In this blog, we’ll explore how businesses can automate business loan applications using Nintex. We’ll explore the step-by-step process, its benefits, and the solutions it provides to streamline the loan application journey.

Empowering Everyone to Automate: The Power of Nintex Process Manager

Process experts understand that mapping your business processes is the first step to automating them. This ensures everyone in the organization clearly understands processes and surfaces the best people to automate them. However, employees in the best position to document and automate the daily processes may not have the technical knowledge to create and manage their own workflows.

To combat these issues, organizations should look to implement a solution that’s both intelligent and intuitive. An ideal solution should be able to:

• Optimize complicated processes
  Look for a tool that can handle the complexities of business loan applications, including routing tasks, data validation, and integrations with external systems.
• Empower everyone
  Ensure the platform is user-friendly enough that employees across the organization, regardless of technical background, can identify, edit, and evolve their business processes.

Nintex Process Manager fits the bill perfectly. It empowers employees to take ownership of documenting the process.

Ditch the Dead-End of PDFs

One of the biggest roadblocks to digital transformation is the continued reliance on PDF forms. While they may seem like a step up from paper, the data trapped within them remains inaccessible and unusable. This creates a dead end for automation and hinders real-time insights.

Nintex offers a powerful solution: the PDF to Form converter. This intuitive tool empowers you to escape the limitations of PDFs effortlessly. Upload your existing PDF loan application form, and Nintex intelligently extracts the data structure.

Here’s where the magic happens: Nintex’s drag-and-drop form builder takes the extracted data and presents it in a user-friendly interface. Regardless of technical expertise, this allows anyone in your organization to build and maintain a dynamic online form. Data from loan applications becomes readily accessible, enabling real-time reporting, improved decision-making, and smoother loan processing workflows.

Automate the Chaos: Eliminate Manual Routing with Nintex Workflows

Manual routing of loan applications through email and spreadsheets is a recipe for inefficiency. It creates bottlenecks, delays decision-making, and hinders overall processing speed.

Nintex empowers you to break free from this chaos with intelligent workflow automation. Imagine a system automatically routing loan applications to the appropriate team or individual based on pre-defined business rules. This could involve loan amount, industry type, or specific borrower criteria.

Here’s how Nintex streamlines the process:

• Intelligent routing
  Define clear business rules to automate task assignments. Loan applications are automatically routed to the relevant team member or department, ensuring the right person handles the application at the right time.
• Faster decision-making
  By eliminating delays caused by manual routing, Nintex workflows expedite the decision-making process. Loan applications are reviewed and approved faster, leading to quicker turnaround times for borrowers.
• Increased processing volume:
  Automation frees up your team from tedious routing tasks. This allows them to focus on higher-value activities, resulting in a significant increase in the number of applications processed per day.

The secret weapon? Nintex Automation Cloud. This powerful platform features a user-friendly drag-and-drop interface. Regardless of technical background, anyone in your organization can build and manage automated workflows. No more relying on IT for complex configurations — Nintex empowers your team to take ownership of automation, fostering agility and a culture of continuous improvement.

Replacing manual routing with intelligent Nintex workflows will unlock new efficiency and speed within your loan application process. This translates to happier borrowers, a competitive edge in the market, and a significant boost to your bottom line.

Effortless Document Generation and eSignatures

Many loan application processes still rely on manual document generation and chasing signatures. This creates delays, wastes paper, and hinders the overall borrower experience. But what if you could automate document generation and eSignatures with just a few clicks?

Introducing Nintex DocGen: your key to effortless document creation.

It empowers you to leverage pre-built templates and dynamic data tags. Insert these tags wherever you need loan application data to populate automatically.

Here’s how Nintex DocGen streamlines the process:

• Automated document generation
  Nintex DocGen automatically pulls data from your loan application system and populates it into your pre-designed templates. This eliminates errors and ensures every document is accurate and consistent.
• Seamless eSignature integration: Nintex offers two options for eSignatures:
  • Built-in eSignature tool
    Nintex eSign provides a robust eSignature solution directly within the Nintex platform. Borrowers can easily review and sign documents electronically, eliminating the need for third-party tools.
  • Integration with external eSignature providers
    For organizations already using tools like DocuSign or Adobe, Nintex offers pre-built connectors for seamless integration. You can easily add an eSignature step to your workflow, leveraging the familiar interface of your preferred provider.
• Improved borrower experience
  By automating document generation and eSignatures, Nintex empowers you to deliver a faster, more convenient experience for borrowers. They can review and sign documents electronically in minutes, leading to higher satisfaction.

By leveraging Nintex DocGen and eSignature options (built-in or integrated), you’ll eliminate manual tasks, streamline document workflows, and create a more borrower-centric loan application experience. This translates to increased efficiency, reduced costs, and a competitive advantage in today’s fast-paced lending environment.

Conquering Legacy Hurdles: The Power of Nintex RPA in Loan Applications

Many organizations struggle with legacy systems that prevent them from automating the loan application process. These on-premise systems often lack modern APIs, forcing manual data entry and task completion. But what if you could leverage intelligent bots to bridge the gap and automate even these manual interactions?

Introducing Nintex RPA: A secret weapon for conquering legacy system challenges.
Nintex RPA empowers you to build attended and unattended Robotic Process Automation (RPA) bots. These virtual assistants can be trained to handle repetitive tasks within your loan application process, freeing up your team’s valuable time.

Here’s how Nintex RPA streamlines legacy system integration:

• Effortless bot creation
  Nintex RPA boasts a user-friendly interface that allows anyone in your organization to build and train bots regardless of technical expertise. No coding is required!
• 24/7 Unattended Automation
  Unattended bots can run continuously, 24/7, tackling repetitive tasks like data entry or system updates without human intervention. This ensures tasks are completed efficiently.
• Attended Automation for Human-in-the-Loop Tasks
  Attended bots work alongside your team, automating specific steps within a task while prompting human input for decisions or approvals. This creates a seamless collaboration between human and machine intelligence.
• Seamless Integration with Nintex Automation Cloud
  Nintex RPA integrates perfectly with Nintex Automation Cloud. This allows you to orchestrate a complete automation journey for your loan application process.

Visit Nintex Gallery to try this process!

Watch this video for a quick use-case walkthrough: