~Partnership to help community banks and credit unions streamline loan closing documentation processes, enhance digital borrower experience~
FORT COLLINS, Colo., Mar. 26, 2024 – Epic River, a lending-as-a-service platform provider that aims to provide a premium customer experience to every community bank and credit union in the country, today announced its integration with Finastra’s LaserPro loan documentation system. The partnership significantly streamlines the loan closing documentation process and supports consumer, commercial and real estate loan types.
Financial institutions leveraging Epic River’s platform to collect borrower information will now be able to automatically send data to LaserPro to generate loan documentation. This minimizes manual data entry into the LaserPro system by digitally transferring information, ensuring accuracy and eliminating the risk of missing or mistyped data. Additionally, the generated loan closing documentation is instantly available for e-signature through the Epic River platform.
“Today’s financial institutions face an increasingly competitive landscape with consumers looking for solutions that can deliver agility, innovation and convenience. Finastra’s LaserPro was designed with the scalability and regulatory assurance our customers need to enhance performance while ensuring compliance across the lending lifecycle,” said Cheryl Anderson, Senior Director of Product Management at Finastra. “This integration with Epic River positions our lenders to remain competitive as we strive to provide technology that redefines the traditional, labor-intensive lending processes and offers a superior borrowing experience.”
Many community banks and credit unions still rely on paper or email-based loan processes, leading to a higher risk of errors and limited operational flexibility. This manual approach often causes significant delays and requires excessive back-and-forth communication between the loan processing team, lenders and the applicant. The Epic River platform solves these issues by accurately collecting application information, guaranteeing correct signature placement and securely uploading supporting documentation.
Jeff Grobaski, CEO and Founder of Epic River, said, “Epic River’s collaboration with a leading provider like Finastra serves as a pivotal partnership that creates greater value for the lending ecosystem. Integrating our platforms optimizes the process and eliminates unnecessary re-keying of data, manual hand-offs and mistakes that prolong the loan lifecycle and inconvenience borrowers. The result is a seamlessly connected experience that instead ensures a smooth borrower experience and an efficient loan processing workflow."
Epic River’s innovative software and service solutions are designed to digitize and automate the entirety of the lending lifecycle for community banks and credit unions, small businesses, healthcare providers and patients. From trusted online identity verification to loan application and closing, the comprehensive digital product suite securely manages every step of the loan process.
About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital, and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world's top 50 banks.
About Epic River
Founded in 2005, Epic River is a lending-as-a-service platform provider that connects banks and credit unions with healthcare providers to streamline patient payments. By facilitating patient financing services, Epic River enables banks and credit unions to forge and strengthen valuable relationships within their local healthcare market. The company’s patient lending technology empowers community financial institutions to generate high-quality, low-risk loans, mitigates medical bill non-payment risks for healthcare providers and grants affordable payment options to patients in need.