Epic River integrates with Finastra LaserPro to accelerate loan closing process
Partnership to help community banks and credit unions streamline loan closing documentation processes, enhance digital borrower experience
FORT COLLINS, COLO (March 26, 2024) — Epic River, a lending-as-a-service platform provider that aims to provide a premium customer experience to every community bank and credit union in the country, today announced its integration with Finastra’s LaserPro loan documentation system. The partnership significantly streamlines the loan closing documentation process and supports consumer, commercial and real estate loan types.
Financial institutions leveraging Epic River’s platform to collect borrower information will now be able to automatically send data to LaserPro to generate loan documentation. This minimizes manual data entry into the LaserPro system by digitally transferring information, ensuring accuracy and eliminating the risk of missing or mistyped data. Additionally, the generated loan closing documentation is instantly available for e-signature through the Epic River platform.
“Today’s financial institutions face an increasingly competitive landscape with consumers looking for solutions that can deliver agility, innovation and convenience. Finastra’s LaserPro was designed with the scalability and regulatory assurance our customers need to enhance performance while ensuring compliance across the lending lifecycle,” said Cheryl Anderson, Senior Director of Product Management at Finastra. “This integration with Epic River positions our lenders to remain competitive as we strive to provide technology that redefines the traditional, labor-intensive lending processes and offers a superior borrowing experience.”
Many community banks and credit unions still rely on paper or email-based loan processes, leading to a higher risk of errors and limited operational flexibility. This manual approach often causes significant delays and requires excessive back-and-forth communication between the loan processing team, lenders and the applicant. The Epic River platform solves these issues by accurately collecting application information, guaranteeing correct signature placement and securely uploading supporting documentation.
Jeff Grobaski, CEO and Founder of Epic River, said, “Epic River’s collaboration with a leading provider like Finastra serves as a pivotal partnership that creates greater value for the lending ecosystem. Integrating our platforms optimizes the process and eliminates unnecessary re-keying of data, manual hand-offs and mistakes that prolong the loan lifecycle and inconvenience borrowers. The result is a seamlessly connected experience that instead ensures a smooth borrower experience and an efficient loan processing workflow.”
Epic River’s innovative software and service solutions are designed to digitize and automate the entirety of the lending lifecycle for community banks and credit unions, small businesses, healthcare providers and patients. From trusted online identity verification to loan application and closing, the comprehensive digital product suite securely manages every step of the loan process.
About Epic River
Epic River is a lending-as-a-service platform provider serving community banks, credit unions, small businesses, healthcare providers and patients. The platform delivers online applications, electronic signing, and remote ID verification and notarization, facilitating a seamless end-to-end lending process. Epic River also helps its partners find and capture new loan volume through patient lending, green energy loans and point of sale financing opportunities.
Click here to learn more about Epic River or follow them on LinkedIn and Twitter.
About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital, and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world’s top 50 banks.
