LendingQB has announced its Enterprise Process Assessment (EPA) solution, an innovative new service that helps lenders understand and measure the impact of technology on their business. EPA provides lenders with an extensive breakdown of their operations, workflows and technologies to determine a strategy to reduce cost per loan and optimize enterprise-wide performance. The assessment is provided to interested lenders without any commitment or fees. The EPA is a holistic, in-depth analysis and discovery of a lender’s unique business workflow that dissects every step of the loan life cycle from the moment an originator engages with a borrower to when the loan is sold on the secondary market. Once the assessment is complete, a detailed report is produced that contains metrics on how to reduce the cost to originate loans by optimizing workflows and operational performance.
The EPA report provides insight into their business in a way that allows them to understand the degree in which a technology and process improvement plan can impact their performance. Ultimately, the report serves as a invaluable roadmap for lenders to evaluate technology more effectively and develop business strategies by establishing measurable goals.
“If after conducting the EPA, a lender should happen to engage with us, then we’re armed with the necessary information to configure and implement our platform to seamlessly connect their entire workflow,” said Binh Dang, president of LendingQB. “The sole purpose of our technology is to optimize operations, reduce cost per loan and increase employee productivity. But if it is determined that LendingQB isn’t a good fit for the lender, they can still utilize our EPA report internally for areas of improvement or even to evaluate another vendor. We’re completely okay with that. Put simply, the EPA is about the lender, not us and our technology platform.”