Community First Bank was initially attracted to Web -based loan automation as way to allow loan processing and reporting to escape the bottlenecks of spreadsheet town. The side benefits of automated and standardized cross sell and CRM have made its executives true believers.
"We initially just wanted to do a quick-and-dirty pipeline program," says Rita Hermann, vp of credit administration for the $560 million-asset Community First Bank in northern Arkansas. Instead, the bank deployed an enterprise-wide loan automation platform that not only tracks loans, but engenders a cross-departmental array of customer-facing, data-driven functions from a single system. "Management can click on a button and see what everyone is doing with a customer, rather than using email or a telephone to exchange information," Hermann says.