A banking system at this level of automation entails fully automated processing of applications, credit decisions, and issuing for specific types of credit applications. However, human intervention is always needed to complete the end-to-end process, for example full end-to-end processing of mortgage applications.
At this Level 4 of loan automation, all five Cs of Credit are both researched and decided upon by the system. However, more complex products would still be driven by a loan officer. Not only the process but also the credit decision is automated to a large degree.
Identify products that have not been automated.
Determine the key challenges to automating these products
Implement a digital lending platform and decisioning tool that will automate these products