A leading provider of Microsoft 365 customer engagement solutions, TrellisPoint, on April 8, 2020, announced the launch of Virtual Loan Assistant, a brand new product engineered for the commercial banking industry. Available on the web and mobile devices, this app aims at solving two major challenges associated with commercial lending: (1) collecting financial documents, (2) increasing the transparency quotient of the credit process across an organization.
“We know there’s a need in the banking industry for a product like ours. Many credit departments struggle with manual business processes, poor communication, and fragmented technology,” said Partner at TrellisPoint, Chris Finnecy. He added, lack of automation and availability of analytics makes an impact on time spent with clients, and hence the app will work on mitigating such issues.
Along with storing data in Microsoft’s secure cloud platform, the Virtual Loan Assistant tool complements systems like Fiserv, FIS, and Jack Henry.
New in the genre, following are the reasons that make Virtual Loan Assistant unique in the market from others:
- The tool sends automatic notifications to customers and third parties for the life of the loan
- Documents, correspondence, and requests are automatically tracked in the system with extra efforts
- The tool enables viewing of key data like records and status at a click of a button
- The tool offers role-based workflows and analytics to be easily viewable through the dashboard or can be imported from the system.
Jay Valerian, Solutions Consultant at TrellisPoint, said, the company is extremely excited to offer a high-value, Microsoft-based application to the industry that provides cost-effective licensing options and improves speed to market. He added, Virtual Loan Assistant, in several cases, can be implemented in less than eight weeks, as the technology is easily accepted by users, and most of them are already familiar with Outlook and other Office 365 apps.
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