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Requirement
The advent of the web has reinvented the way mortgage companies process loan application information and how they offer their products to consumers. The mortgage industry business processes involves loan processing, loan applicant’s credit verification and interacting with other industries to validate the loan applicant’s data. Each loan application is processed through a series of steps. The client’s business requirements were to automate this application process. Solution
Infobahn’s Consultant handled the development of workflows for the system. When a new loan is applied for, a new workflow is created to handle the loan, and this workflow will initiate tasks into the mortgage staff's work items, which will then initiate the loans and will trigger JMS messages, to interact with the necessary governmental agencies, on the loan applicant’s background. Workflows along with some integration management tools allowed loans to flow through defined business and federal rules, while at the same time integrating the systems with third parties to collaborate on loan application data verification and validation
Benefit
Infobahn’s solution improved performance and productivity while cutting costs. Additionally, loan applicants could apply and view the progress of their loan online.
Technology
Infobahn’s solution improved performance and productivity while cutting costs. Additionally, loan applicants could apply and view the progress of their loan online.
Technology/Methodology
TIBCO BPM (TIBCO InConcert Workflow server and TIBCO Integration Manager) |
