Financial Organization Automates Its Loan Review Process
United Acceptance Inc. (UAI) is a financial organization, founded in 1991, that provides capital and servicing solutions to automobile dealerships that have a “buy here, pay here” operation, finance companies, and independent finance companies. UAI has achieved major labor savings, eliminated a three-month processing backlog, improved corporate decision-making, and positioned itself for growth by automating its loan review process with a scanning and document capture solution from ibml.
The Challenge
UAI processes two types of loans:
- Pre-funded loans: loans that UAI must review for potential purchase
- Post-funded loans: loans that have been purchased
UAI was challenged by the review of pre-funded loans that it was considering purchasing from “buy here, pay here” automobile dealerships.
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