You are at Level 0

Level 0 means no digital lending or automation capabilities

At Level 0 lending automation, IT systems may be in place for loan management or core banking, but no technology platform is in place for digital lending or lending process automation. Lending is an entirely manual process for information gathering and assessment.

The loan officer processes and the underwriter decides whether to grant a loan. The person in-charge takes responsibility for processing the loan application and must review the information, work across multiple systems, bring data together and communicate with the applicant.

Recommendations for Level 0

  1. Create new customer journeys for current and future states that includes the end user’s digital experience
  2. Implement a digital solution to enable your customers to file loan applications online including supporting documentation.
  3. The objective for Level 0 is complete digital onboarding and account opening online. The customer’s information is handed over to your lending team for manual processing.