Loan Origination System using Angular JS, Bootstrap, Spring Boot & MySQL
Indium supported the client in automating the workflows and improving the processing time of their loan origination system which handles around 7 million transactions of about 0.5 million customers which in turn helped the client in taking quick business decisions.
The client is a renowned US community bank that has been helping consumers and small businesses in California for almost a century.
The client’s old workflow processes were ineffective, costly, and time-consuming given the sheer number of transactions. The manual uploading and processing of work receipts for further decision-making resulted in a system that was incredibly ineffective and that allocated excessive resources to repetitive and automatable operations. The bank needed to update their loan origination system such that the manual procedure that was currently in place was abolished and the entire business process was streamlined to almost complete automation.