S-Drive along with Salesforce offers a secure and process-driven loan document management system for banks. S-Drive brings a simple and compliant mortgage document management system for lenders.

Keep reading if you are interested in assuring shorter application/ agreement processes and optimal spending on risk-proof document management with easy tracking, and full control.

Banks and Credit Unions have many documents that need to be retained for personal lines and loans and credit cards. A robust document management system and retention policies are needed to organize and secure documents.  After all, documents might include sensitive customer information. 

Banks must store lending agreements and ensure that proper documentation is kept and recorded for each credit application received. Mortgage companies have to store applicant documents. Banks and mortgage companies can be fined for non-compliance in the application process. Reg Z, HOEPA, and TILA are all designed to ensure electronic records management and the implementation of appropriate retention policies.