31% of Financial Institutions Desperately Need a More Automated System to Close More Loans

PUEBLO, Colo. - June 10, 2015 - PRLog -- A recent survey by the document management software company AccuSystems reveals that the document workflow process continues to be a significant pain point for financial institutions. Many institutions indicated that automation improvements would increase the number of loans they close.

The AccuSystems study included 95 community banks, representing over $30 billion in combined assets. The study showed that exception automation (cumulatively 60% of responses) seems to be an area for many institutions to build efficiency and increase the rate of closed loans.

With regard to banks still relying on paper documents, speed concerns (26%) and bottlenecks (26%) were common challenges, in addition to visibility issues (23%) and data loss (23%).

“The study shows that there is still a lot of room for improvement for banks,” says Alan Wooldridge, Co-President of AccuSystems, LLC. “Each day we discover new clients who want to get more from their technology. Financial institutions can increase efficiency by implementing a more comprehensive system, such as AccuAccount.”

To download the full report, visit: http://go.accusystem.com/bank-workflow/.

To schedule an interview with AccuSystems, please contact Alan Wooldridge, Co-President, by dialing (800) 950-2550 or visit http://www.accusystem.com.