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Why should you automate loan administration?

April 9, 2014
Read Time: 0 min

Many financial institutions have gotten by using their core system or a series of spreadsheets to manage tickler and covenant tracking as well as client communications. In today’s regulatory environment, however, banks and credit unions are being asked to minimize risk and standardize processes. An easy step with loan administration would be to consider automation.

Bankers using a centralized and automated loan administration solution reduce the number of exceptions and the amount of time required for loan administration, according to a recent survey of bankers using such a solution.

Among individuals who reported a time savings, the average showed that loan admin software has helped them spend 35 percent less time collecting and monitoring documents—which is now devoted to building new business for the bank or improving customer service. Also, over two-thirds of participants reported noticing at least some additional efficiency in their process since automating.

Loan Admin Efficiency

Beyond saving lost time and gaining efficiency, participants also reported a more favorable experience during their recent examinations. One banker explained they now “have a central place and report that shows all outstanding exceptions. In the past we could never seem to capture the full picture of where we stood with financial exceptions.”

To learn more about the benefits of automating your portfolio management process, download the whitepaper on Success with Automating Loan Administration.


See what Sageworks Loan Administration can do to reduce the amount of exceptions, and time spent, in your loan review process.

About the Author


Raleigh, N.C.-based Sageworks, a leading provider of lending, credit risk, and portfolio risk software that enables banks and credit unions to efficiently grow and improve the borrower experience, was founded in 1998. Using its platform, Sageworks analyzed over 11.5 million loans, aggregated the corresponding loan data, and created the largest

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About Abrigo

Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo's platform centralizes the institution's data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth.

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