In this blog I want to go over how Nintex can help streamline and automate the loan origination use case. 

Using Nintex Automation Cloud, we can bring together the loan process into one application that can handle the initial loan application, necessary internal approvals, generation of the loan documentation for the applicant to sign and updates to statuses and send notifications as the process progresses to keep everyone up to date on this application.

A fully customizable and externally available form makes it easy to collect the necessary information from the loan applicant then send this information through the necessary approval steps. 

With Nintex Automation Clouds advanced logic, the workflow can handle complex branching logic needed to determine who needs to approve the submission based on type of loan, loan amount, etc.  Reminders and escalations can also be built into the approval tasks within the workflow to make sure that any SLA’s for the timing of processing loan applications can be met. If necessary, we can even send a task to initial applicant to gather more information.  The application status can be updated in the necessary line of business systems using the built in connectors/Xtensions or RPA bots to communicate the progress of the application.

Using document generation within the workflow the loan documentation can be created and using the built in connectors for esign tools the documents can also be sent to the applicant for e-signature. Once signed the notifications can be sent to all the appropriate parties and the signed document can be saved into the necessary line of business systems to make sure all the necessary account data is kept up to date.

This workflow template has been publish in the Nintex Gallery, to import into you Nintex Automation Cloud Environment Click Here