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Stearns Lending Digitizes Manual Processes, Improving Top and Bottom Lines Using TrackVia

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TrackVia Streamlined Post-Closing and Credit Risk Processes Without Extensive IT Support

DENVER (PRWEB) August 02, 2018

TrackVia™, the leading low-code workflow platform for operations, is helping Stearns Lending automate their manual processes, reduce their asset sales cycle times, and increase productivity in its post-closing processes resulting in an overall cost reduction per loan and improved purchasing power.

"TrackVia is a game changer," said Jodi Doyen, first vice president of loan servicing operations for Stearns. "We are now able to address operational risks before they become problematic. The speed and access to information has allowed us to make a positive impact to both our top and bottom line results."

Stearns needed a solution to their manual processes that relied heavily on the use of Microsoft® Excel and emails — creating a time-consuming, inefficient, and error-prone environment that prevented them from accurately tracking and reporting on intraday activities and deliverables. The manual processes led to inefficiencies that tied up valuable capital and caused key metrics like asset sales cycle times to suffer — impacting Stearns' bottom line.

"In mortgage lending, speed is everything," continued Doyen. "At Stearns, the methods we were using were slow and could no longer keep up with the acceleration of our business."

Stearns found they needed to digitize and automate a number of processes to sell loans more quickly and to improve the speed of their back office operations. Stearns needed a solution that would access real-time data, had the ability to execute work based on a standardized set of processes, and could quickly customize a solution around their unique post-closing needs without extensive IT resources.

"TrackVia has helped us centralize and streamline key post-closing and credit risk processes," said Joshua Yaklin, vice president of risk data and analytics for Stearns Lending. "The straightforward, drag and drop configuration allows for quick customization and refinements without the need for IT or programming."

Working with TrackVia, in a matter of five weeks, Stearns quickly and easily built custom applications to automate their processes, enable employees to create personalized task lists, and dynamically generate and view reports in real time. Furthermore, Stearns now tracks processes, data, and activity across post-closing, risk, compliance, and corporate functions down to the loan level across every stage in real time. Because it is a flexible, customizable platform, Stearns is now expanding its use of TrackVia across departments and use cases.

"Our central goal is to empower businesses to build intuitive, custom applications that help solve complex workflow processes," said Pete Khanna, CEO of TrackVia. "We are proud to help streamline Stearns Lending back office operations so they can focus more on their customers and growing their business."

To learn more about Stearns Lending's solution with TrackVia, read the case study (http://bit.ly/TV-StearnsCS).

About TrackVia:
TrackVia™, the low-code leading workflow platform for operations, helps companies build applications that improve on-time performance and reduce costs. TrackVia offers operations leaders the fastest and easiest way to build powerful applications that are business led and IT approved. Companies like Stearns Lending, Fifth Third Bank, and Dow Venture Capital, rely on TrackVia to digitize their operations. Learn more at: http://www.trackvia.com

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