The loan business is very paper intensive and requires exchange of huge amount of documents with multiple parties involved. Old fashioned manual loan processing system involved delivering documents via courier, fax or email and storing digitalized copies on a network shared drive which implied an inefficient way of document management for a number of reasons:

• Access to documents by multiple users at the same time was not possible;
• Lack of version control as users created “shadow” file systems to compensate for lack of multiple user access;
• Distribution of paper documents was time consuming and cost inefficient;
• No backups of documents.

The aim was to create a system that would resolve existing problems and support storing documents and managing its lifecycle according to inherited business processes.

The Solution:

An electronic document management system was designed to resolve business problems by providing controlled multiple user access, version control, and instantaneous distribution of documents, as well as reliable electronic backups.

Luxoft built highly available and scalable solution called that meets ambitious goals set by the bank. The application is currently used in different geographical locations (Asia/Pacific, Europe, and North America) with over 1000 registered users. There are about 300 000 documents stored in the system which supports following functions:

• Ability to import/export documents from/to various sources    
• Document management – version control, editing, viewing, and deletion
• User permission management
• Global document repository for Loan Ops division
• 4-Eyes Document Approval Process
• Flat-File Integration with LS2 system
• Support of Loan Operations document capture process
• Email function integration
• My Portfolio logic    
• Advanced Search for documents and deals
• Quick and easy access to frequently used folders and documents
• New business workflow