For BLX, the success of automating data sheet production demonstrated that other document- intensive processes could easily be automated as well. In particular, the company handles a large volume of Community Express loans that are often for dollar amounts of $50,000 or less. “Processing a loan requires a considerable investment in employee time,” says McGoff. “The more we automate our processes the better we can serve our customers, while keeping our costs in check.”
Applications for Community Express loans come directly from borrowers, who currently complete paper forms and return them for processing. The manual workflows can cause errors, with borrowers failing to submit all required information or entering the wrong information into form fields. As a result, BLX staff has to spend extra time following up with applicants to get the needed information.