Iron Mountain rolls out Digital Auto Lending solution

Iron Mountain’s Digital Auto Lending solution introduces technology to automate the receipt and review of loan documents, replacing legacy manual practices. Car financiers who manually process auto loans with many incoming documents are exposed to higher operational costs, expanded funding cycle times, and processing errors.

Banks want to fund transactions as quickly as possible and reduce their costs. The solution takes content, whether structured or unstructured, from the dealer, ingests it, standardizes it and normalizes it. Then, the structured data is sent electronically to the bank to accelerate the funding process.

The Digital Auto Lending solution, built on InSight DXP, uses intelligent document processing, allowing lenders to “seamlessly receive, process, and distribute both physical and digital information from dealers into bank platforms.”

You can read the full Q&A on Auto Finance News.