By Alexandra Zendrian
Financial institutions will now be able to close loans faster, saving both time and money.
SIGNiX, a digital signature and remote online notarization company, is modernizing the loan origination process for mortgages, consumer loans, and commercial loans through its technology.
The Chattanooga, Tenn.-based company recently announced a new integration with Integra Software Systems that will expand its partnership with TruStage Compliance Solutions. Organizations that use Integra’s EPIC lending platform can now access digital signatures within their loan origination workflow. This is expected to result in faster document processing, create cost savings through reduced paperwork, and allow users to increase loan volume without needing to hire additional staff.
“This integration marks a significant advancement in efficiency,” SIGNiX CEO Jay Jumper said in a statement. “We’re giving financial institutions a more streamlined and secure approach to processing loans.”
SIGNiX also expects this improvement will help organizations mitigate regulatory risk by enhancing security and compliance.
The technology is expected to save users thousands of hours each year while speeding up the loan process. Currently, it typically takes between 30 and 60 days to close a mortgage. Commercial loans average around 45 days, while consumer loan closing times vary.
“This simplifies the lending process for mortgage, consumer, and commercial loan types while reducing the complexity of managing multiple technology vendors,” Integra Senior Vice President Michael Picker said in a statement.
The integration comes after SIGNiX announced in November that it was expanding its partnership with TruStage to help community banks and credit unions grow. This was part of an integration with Hawthorn River, a company that develops loan origination software for community banks.
“It’s not just about efficiency—it’s about transforming your institution’s ability to serve customers and drive growth while maintaining the highest standards of compliance and data protection,” Ronny Chapman, a member of SIGNiX’s Board of Directors, said in a statement.
SIGNiX is committed to data security. The company was recently named the winner of WealthManagement.com’s 2024 Industry Award for Cyber Security Technology Providers.
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