Summary
mavQ intelliSuite is a product that enables credit unions and banks to increase lead capture rates, streamline loan review process, enhance service delivery of loans, engage with customers and improve visibility for stakeholders through the loan process.
Challenges
- Document Collection: SBA Loans, 504 Loans, Community Finances Loans, Mortgages and other loan types often have complex review steps. Document collection at different stages of the process becomes difficult to coordinate and manage, resulting in potential borrowers existing in the process.
- Loan Servicing: After a loan is approved, it can be difficult to ensure that annual financial statements, insurance documents, and income documents are submitted to ensure loan compliance.
- Loan Processing: Loan processing requires actions and approvals at various stages. Quickly and efficiently tracking these stages can become difficult, resulting in low conversion rates.
Outcome
Customers using our Solution experience a 66% reduction in document requests and reviews, experience a 25% increase in Lead Conversion Rate, and a 20% increase in compliance during servicing.
66%
Reduced Document Workload
Customers see a 66% reduction in document requests and reviews, easing operational burden.
25%
Higher Lead Conversions
Institutions experience a 25% increase in lead conversion rates with improved workflows.
20%
Improved Compliance
Institutions achieve a 20% increase in compliance during servicing.
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