Community banking loan origination has gotten more efficient thanks to the recent integration of TruStage Digital Signatures, which is powered by award-winning digital signature and remote notarization firm SIGNiX, and community banking loan origination platform Hawthorn River.
As a result of this integration, Hawthorn River customers can now access TruStage Digital Signatures right in their loan origination workflow, which could potentially save financial institutions thousands of hours each year.
Saving time on generating community bank loans could be critical for small businesses. In the 2024 Federal Deposit Insurance Corporation Small Business Lending Survey, more than half of large banks can approve a small, simple loan in one business day while when that percentage was combined with smaller, community banks, it dipped to 30 percent. Speed and ease of capital is crucial when people and businesses determine which bank to select.
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