Glossary entry
Lending automation
Using software to automate verification, decisioning, documents, and workflow so teams focus on exceptions.
Category
Lending technology
Definition
What gets automated
- Application capture and validation
- Identity, income, and bureau verification
- Policy execution and pricing
- Document generation and e-signature
- Operational workflow routing (queues, SLAs, approvals)
How to measure it
Common metrics include STP rate, time-to-decision, cost per application, and applications per FTE.
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