Jersey City, NJ, April 13, 2022 – GRM Information Management, a leader in enterprise content management, has recently implemented a new solution for Hanmi Bank to automate and optimize their loan document management processes. Hanmi Bank, which boasts thirty-five branches and eight loan production offices across the country, is already recognizing the efficiencies and cost savings enabled by the cloud-based Loan Document Lifecycle Management software.
“We’re really pleased to be working with Hanmi Bank,” says Jay Crider, GRM Vice President, Sales. “This solution is well-suited to an organization like Hanmi that processes a high volume of loans and is always seeking ways to improve and streamline its processes.”
Given that loan departments create and process a high volume of different types of documents on a daily basis and often have a lack of standardization in systems, file naming, archiving and general business practices, an environment can be created where identifying and accessing documents is difficult. As the GRM solution integrates easily with existing banking systems, it is imminently capable of addressing this challenge and serving as a digital, central repository for all loan documents.
In addition to receiving data and documents from existing systems, the GRM solution also includes high-volume digital conversion of paper documents and a host of tools such as workflow automation and e-signature that effectively minimize an organization’s reliance on paper. Driving paper out of the process is one of the primary benefits of the solution. And, whether digital-native or newly digitized, all documents can be auto-indexed and filed automatically, dramatically reducing human resource demands and errors that are the result of manual processes.
With a central repository established, use of paper minimized and standardized folder structures implemented, preparing for and responding to audits is dramatically simplified. All necessary documents are easily identified and compiled. And once all audit requests are prepared, auditors can be granted online access to the limited set of documents for review.
“Adopting the GRM solution has enabled our loan production and credit administration teams to meet the rigorous demands of the document management process, as well as improving the efficiency of loan audits. This initiative is a key part of Hanmi’s digital transformation and has made the entire loan process less time consuming and more productive,” said Navneeth Naidu, Chief Technology Officer of Hanmi Bank.
GRM Information Management is a leading provider of document storage services and information management systems. GRM’s robust, cloud-based content services platform serves as the centerpiece of the digital solutions that GRM provides its clients. Serving a diverse base of industries such as healthcare, government, legal, finance and human resources, GRM delivers its clients services such as digital conversion, advanced data capture solutions, document management systems, workflow automation, legacy data archiving, compliance and governance, business process management and advanced analytics capabilities, as well as a full suite of document storage, scanning and physical records management services.
GRM maintains offices in 14 major metros across the U.S., including Atlanta, Austin, Baltimore, Boston, Chicago, Dallas, Houston, Indianapolis, Los Angeles, Miami, New Jersey/New York, Philadelphia, San Francisco and Washington, D.C. GRM also has facilities in Lima, Peru; Rio de Janeiro, Sao Paulo, Brazil; and Bogota, Medellin and Cali, Colombia. For more information, visit GRM Information Management.
GRM Information Management
Phone: 201-798-7100 x637