Loan Processing & UnderwritingPurpose
1.2. Ensure decisions (approval, declination, requests for additional info) are disseminated rapidly and documented for compliance and auditability through automation.
1.3. Automating this workflow reduces manual intervention, eliminates delays, minimizes human errors, and increases operational efficiency.
1.4. Automation ensures that borrowers and stakeholders receive highly relevant, timely, and compliant notifications regarding their loan status, improving customer experience.
Trigger Conditions
2.2. Decision status updated to Approved, Declined, or Needs More Information.
2.3. Manual override completed by a loan officer triggers automation.
2.4. Change detected in loan status field via API/webhook or batch update automates the workflow.
Platform Variants
• Feature/Setting: Workflow Rules / Process Builder — Automate decision notification on Opportunity or Custom Object status change.
3.2. DocuSign
• Feature/Setting: Connect API — Automated envelope routing and notification on workflow completion.
3.3. SendGrid
• Feature/Setting: Transactional Templates API — Automate emailing borrowers with decision results.
3.4. Twilio SMS
• Feature/Setting: Messaging API — Automate SMS alerts to applicants post-underwriting.
3.5. HubSpot
• Feature/Setting: Workflows — Automatedly send loan status emails and update contact records.
3.6. Slack
• Feature/Setting: Incoming Webhooks — Automated notifications to underwriting or loan processing channels.
3.7. Microsoft Teams
• Feature/Setting: Flow Connector — Automate posting underwriting results in selected Teams channels.
3.8. Gmail
• Feature/Setting: Gmail API — Automate sending decision notifications from credit union's domain.
3.9. Zapier
• Feature/Setting: Multi-step Zaps — Automate LOS-to-email/SMS workflows with conditional logic.
3.10. Mailgun
• Feature/Setting: Messages API — Automate robust, auditable email notifications.
3.11. Google Sheets
• Feature/Setting: App Script Triggers — Automated logging and batch notification triggers via Google automation.
3.12. Outlook/Office365
• Feature/Setting: Graph API — Automate notification emails and calendar scheduling for follow-ups.
3.13. Box
• Feature/Setting: Webhooks — Automate documentation of notifications and audit trails.
3.14. AWS Lambda
• Feature/Setting: EventBridge Integration — Automate serverless execution of notification logic on underwriting events.
3.15. Freshdesk
• Feature/Setting: Automations — Automated ticket creation when follow-up is needed.
3.16. Smartsheet
• Feature/Setting: Automation Rules — Automate status update notifications and logging.
3.17. Zendesk
• Feature/Setting: Triggers/Automations — Automated case creation for declined or escalated applications.
3.18. Adobe Sign
• Feature/Setting: Workflow Designer — Automating notarization and notification after underwriting status.
3.19. Workato
• Feature/Setting: Recipes — End-to-end integration and automating branching notifications.
3.20. Pipedrive
• Feature/Setting: Workflow Automation — Automated status update emails based on deal stage.
3.21. Intercom
• Feature/Setting: Custom Bots — Automated outbound loan decision messaging.
Benefits
4.2. Automatedly maintains audit trails for consumer compliance requirements.
4.3. Automates communications to both internal and external recipients, limiting missed or delayed updates.
4.4. Boosts member satisfaction and transparency through real-time, automated notifications.
4.5. Automates enterprise-level scalability, handling spikes in application volume without increased labor.
4.6. Reduces risk by automating compliance alerts and documentation for every notification sent.