Valley Bank Partners with Vikar Technologies To Accelerate Loan Processing
Vikar Technologies (“Vikar”), a leading provider of Loan Lifecycle Management solutions announced today that Valley National Bank (Valley) has selected Vikar to automate their commercial loan onboarding process to improve cycle time, enhance data integrity and to reduce compliance risk.
The Vikar Loan Lifecycle Management solution greatly reduces the time it takes to onboard and service commercial loans by providing an end to end digital experience straight through to core banking systems. The Vikar solution eliminates re-keying of data, provides pre-configured business rules to eliminate errors, and provides a seamless experience for bank employees and clients.
“Valley strives to deliver the best, most efficient banking services to our customers. By working with Vikar, we are able to leverage a rules-driven engine and strong data aggregation capabilities to reduce processing time and improve accuracy for our commercial loan borrowers” said David Goldberg, Director of Loan Servicing for Valley National Bank.
“We are thrilled to have Valley as a client”, said Glenn Bolstad, CEO of Vikar. “Valley’s adoption of our solution for their loan servicing operations will greatly increase the amount of loans they can onboard and service without additional headcount. This will ultimately allow them to deliver great experiences for their customers while optimizing their efficiencies.”