Whitepaper: How lenders can simplify and accelerate underwriting using predictive data
- The underwriting process runs on data, which often means multiple manual steps for both lenders and borrowers.
- That process becomes easier and smarter when data is reimagined -- integrated, automated, and predictive.
Data, and lots of it, is at the core of the underwriting process. Lenders rely on multi-stage manual processes to make data easily accessible and usable — consequently making it anything but easy.
This often impacts the customer’s experience, too, sending them on a secondary journey to compile information and retrieve account receiveables reports, which then go through many human touch points until the data is finally usable for lenders to make calculated decisions.
Manual data processing, often relying on PDFs and Excel, is not only a troublesome workflow — it’s ineffective. Data stored in these files is static and outdated as soon as it’s saved, and tells lenders only about a business’ past performance. To understand the present — and future — lenders should utilize to user predictive analytics.
By automating the manual processes of integrating different accounting platforms, ForwardAI provides real time, forward looking data that puts power and time back in the hands of lenders.
Download the white paper for an in-depth understanding:
- Why current methods of reaching usable data are ineffective and negatively impact the customer journey
- Why user predictive analytics is the solution for understanding how a business’ performance in real time, and into the future
- How ForwardAI plans to improve the underwriting process for both lenders and loan applicants