We had the opportunity to work with a Fortune 1000 company’s commercial loan business unit to help build a custom portal to streamline the onboarding of borrowers and sharing of documents between loan officers, borrowers, brokers, and attorneys.
By leveraging Box, a Cloud Content Management platform, and AWS, we were able to improve turnaround times for loan processing and provide a means of loan document collaboration with the best possible user experience.
Solution Overview
Customers now have a new way to engage with the company by collaborating on the documents related to their mortgages.
Customer On-Boarding
With our custom user interface and white-labeled experience, customers are onboarded efficiently and effectively into the branded portal with enhanced user experience.
The Loan administrators can seamlessly create and invite customers to the onboarding portal. Box along with AWS Cognito integrations was used for this seamless integration of the system as it provides a secure and easy way for administrators to access without compromising security.
Loan Document collaboration
Before documents were shared via e-mail and it is difficult to keep track of multiple documents if you are an individual that is handling more than one mortgage at a time. They will also get e-mail notifications of when files are uploaded to their managed mortgages.
With the new solution, Customers and agents are provided end-to-end digitized loan experience. Customers can submit documents and collaborate with their loan officers using Box platform features such as sharing, commenting, and assigning tasks –reducing overall turnaround time.
Flexibility to Loan officers
By transferring content to Box, internal users of the commercial lending group can take advantage of Box’s user experience through Box Drive, Box mobile app, and easy website navigation for content viewing and management. This all comes with Box and they are constantly improving their features and usability.
Overall, the commercial lending department has more control over their customers’ experience, and this allows for a more enhanced, branded experience.
General Architecture
In addition to Box Platform services, we utilized services from Amazon Web Services (AWS) and modern JavaScript frameworks to build the solution. For the custom portal and the user management system, we used ReactJS and NodeJS and had an EC2 instance host the applications.
AWS Cognito provided us out of the box user authentication and validation, and it provides a built-in user interface to speed up the development process. External customers are provided with user accounts to authenticate themselves with to access content that is available to them from Box.
Conclusion
While this solution and its architecture are highly performant, we are going to go one step further. We are working on a revised version of this application that can be leveraged by any organization that needs to streamline the onboarding of the new customers and the collaboration of documents with the customers. To achieve maximum scalability and flexibility for minimum cost, the new version of the application will leverage serverless architecture utilizing Amazon Web Services. We will dive deeper into the features and the serverless architecture of the revised application in the next blog.
