Commercial Lending

The purpose of this sample is to manage the review and approval process for commercial loan applications made to a financial institution. It enables a loan application to take different “approval paths” based on the size of the loan. The “Approval” decision task is directed to the position in the organization who has the required signing authority to deal with the size of the loan requested. The documentation related to the application is managed based on access permissions  and tracked by workflow so the real-time status of the application is known.

The key benefits of using this workflow include: clear accountability and audit trail of review and approval steps, shorter review and approval cycle but using automated workflow to expedite the process instead of a paper-based system, and using a database to pre-populate key information in digital correspondence to improve accuracy and eliminate re-entry of information. 
 
Business Benefits

• Easy to use – graphical interface enables users to click on tasks to execute them
• Efficient – “single point entry of information” eliminates re-keying and resulting errors
• Provides easy monitoring of progress
• Flexible – the size of the loan application determines the review path
• Accountability – each task is assigned and the results captured
• Integrated – can utilize multiple Microsoft applications