Fast, Secure Home Loan Processing with LendingLink and Box
Location: Frisco, TX
Industry: Financial Services
Use Case: Loan document collaboration, management, and workflow
WorldLink is a systems integration and custom application development organization with deep financial services expertise. In today’s world of digital transformation, WorldLink leads financial services providers and other enterprise companies through their unique innovation and transformation journey.
Across industries, consumers today demand instant access to the content they need, as well as an immediate response to service requests. In the financial services industry, homebuyers are no different. Gone are the days of scheduling an appointment with a banker to apply for and receive a new home loan. In fact, many applicants find even a website experience too cumbersome and prefer the speed and convenience of a mobile application. Regardless of how content is shared during the lending process, it is critical that content processes remain highly secure. Such processes cannot be compromised without significant consequences.
To meet the needs of modern lenders and their consumers, WorldLink has developed LendingLink, a mobile-first, consumer-first lending portal. Powered by Box Platform, LendingLink is a highly secure, compliant loan origination solution that is easy to use and offers dynamic analytics and reporting capabilities.
For consumers, the LendingLink application user experience is simple and streamlined. LendingLink walks the loan applicant through the entire mortgage origination process, from application through processing and into underwriting. The app makes sure that consumers always know where they are in the loan process through an easy-to-use interface.
When it comes to content sharing and processing, the consumer experience is easy and secure. Loan applicants upload all necessary documentation to the system, either directly online or by taking a photograph of the paperwork using their mobile device. Signatures are captured electronically throughout the process using any of the digital signature integrations supported by Box Platform (including Adobe Sign and DocuSign).
On the business side, LendingLink provides lending institutions with real-time insights throughout each individual loan process, as well as across their loan portfolio. Loan officers and institution executives have full visibility of a loan’s status at any point in the process. A snapshot of how their business is doing is simply a click or tap away on any device, anywhere, anytime. In addition, notifications can be sent automatically via email or directly through the system’s integrated messaging component.
For both consumers and lenders, content security is of utmost concern. The financial services sector as a whole, and the mortgage industry in particular, is highly regulated with strict guidelines around data security and compliance. Many cloud-based technology platforms are unable to comply with the level of security required to handle highly sensitive financial data. Box, however, is FINRA and SEC compliant, allowing highly regulated industries such as financial services to securely store, access, and collaborate on content. Moreover, Box APIs make it painless to integrate third-part platforms that provide other functionality necessary for a digital loan origination solution (for example electronic signatures). Those same dynamic API’s also make it easy to host LendingLink in a lender’s preferred cloud infrastructure, such as Azure or AWS.
With LendingLink powered by Box, lenders can safely streamline their content processes and accelerate their loan cycles. In addition, lenders are more able to make important decisions quickly and accurately in order to better serve the needs of their consumers and their business.