Reduce costs
Reduce costs by processing and funding more loans per staff resource to expand profitability, improving quality and scalability
Digital solutions
Digital Auto Lending solution
Accelerate auto loan funding with smart automation
InSight DXP
Outdated manual processes slow your progress
Document verification, data entry, dealer communication—all done via manual processes—drive up overhead costs, consuming time, and resources. Delays during document review, validation, decision-making, and transportation prolong turnaround times, impact relationships with customers and auto dealers, and reduce overall efficiency.
- 9-15%
Jump in operating profits with automated banking processes
Source - 30-40%
Hours saved with AI-based extraction techniques
Source - 52%
Reported in 2022 that more than 5% of their digital budgets went to AI
Source
Deliver an automation advantage unlocking speed and precision for faster funds and happier auto dealers
Why choose Iron Mountain Digital Auto Lending solution
Auto financers are increasingly in need of automated and integrated funding processes that streamline their work with auto dealers, third-party systems, and internal bank loan systems. Digital processes using intelligent document processing (IDP) are attractive for their ability to assist in managing compliance risk by providing accurate, auditable records and processes.
A modern digital process can help you:
Reduce cycle time
Improve efficiency with a seamless process that reduces loan funding cycle time while increasing loan visibility and eliminating redundant steps
Process more accurately
Process more accurate loans while effectively managing risk to protect profit margins and improve the bank/dealer experience
The evidence is in the outcome
A large North American bank chose Iron Mountain’s managed services to handle document ingestion, data extraction and storage of incoming auto loans. We handle 600k - 1M loans annually, helping resolve compliance issues and improving time to revenue by 4x.
A top 5 credit union hired Iron Mountain to handle the back office processing of all its mortgage back office activities. Handling over 2M monthly documents, we intake daily documents, classify images, extract and validate data, handle exception management and deliver images via application programming interfaces.
Source: Internal documentation from work with Iron Mountain customers. Results may vary.
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PremiumWhitepaper
Iron Mountain InSight Improves Financial Services Organizations’ Information Management For Operational Efficiencies, Cost Savings, And Business Benefits
Iron Mountain InSight is an information management
and content services platform that supports digital
transformation and modernization efforts at financial
services organizations.
January 10, 2024
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