Smart Automation for Retail Loan Processing

Loan processes from loan origination, processing and underwriting, to disbursement, servicing and closure are manual and discrete in nature. Retail lenders need to keep up with customer demands for faster loan processing and better service, increasingly regulated business environments, pressures to reduce operational expenditures and manage discrete workflows and systems.

Smart Automation helps banks achieve these objectives rapidly, with minimal intervention into existing systems. Smart automation tools work across the multiple applications and systems used for Loan processes, leveraging advances in application simulation, autonomics and machine learning to deliver value.


VirtusaPolaris Smart Automation Solutions enable financial institutions to transform their operations by leveraging Robotic Process Automation (RPA), Machine Learning and Workflow integration, to achieve cost savings and increased operational efficiency. Smart Automation is minimally invasive and achieves results rapidly.

The Smart Automation Retail Loan processing solution optimizes workflows and embeds intelligence in the entire loan processing cycle.

Intelligent Loan Origination:

Robotic Automation streamlines customer information capture and accelerates the application submission and review cycle

Optimized Loan Servicing:

Machine learning powered customer query response

Minimize manual touchpoints in loan disbursement, collections and closure using OCR/HCR and Robotics

Efficient Loan Closure:

Reduce cycle time Integrate loan closure systems and workflows

End 2 End Services:

VirtusaPolaris works with banks throughout the smart automation journey from building the business case, to implementation and deployment.

Solution Benefits

  • Streamlined Loan Origination: Accelerate processing time for loan applications by automating information delivery to the right people, processes and systems
  • Process Stability, Security and throughput: Utilization of virtual workers reduces errors, ensures customer information security and better throughput of integrated processes
  • Intelligent Customer Service: Customer agent time is reduced by up to 50% by embedding machine learning into customer service systems
  • Non Invasive with Rapid Deployment: Smart Automation Tools are built on top of existing systems , do not disrupt existing systems or processes , and can be deployed rapidly

Solution Differentiators

  • Predefined analysis of Loan Processing business functions for scope of automation within processes and potential efficiencies
  • Classification of processes as cognitive and non-cognitive
  • Work demo of certain loan processing functions to help you jump to a live pilot

Comprehensive Assessment Framework: The solution is supported by comprehensive consulting methodologies to conduct a suitability analysis and build a business case for loan processing automation, and formulate a roadmap for your automation initiative

Best of Breed Partners: VirtusaPolaris partners with cutting edge Automation Tools and Solution Accelerators to help clients achieve optimal time to market.