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Streamline and scale lending operations with AI and API-led integration

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Srini Rangaswamy
Principal Platform Solution Engineer, MuleSoft
Venkat Sharma
Principal Solution Engineer, MuleSoft


Today’s lenders face immense pressure from surging mortgage demand, massive small business relief programs, and razor-thin margins. Find out how APIs can help lenders streamline costly processes and accelerate the delivery of connected borrower experiences.

This demo focuses on how lenders can scale the loan origination process — from document upload to loan review and underwriting — with out-of-the-box connectors for a seamless integration.

Srini Rangaswamy (00:07):
Hey, my name is Srini Rangaswamy with the solution engineering team here at MuleSoft. In this demo, we'll show you how lenders can use MuleSoft's API-led approach to streamline and scale lending operations.

Srini Rangaswamy (00:19):
The story here focuses on the Paycheck Protection Program, which is a U.S. program offering government-backed forgivable loans to small businesses impacted by COVID-19. While this demo focuses on the U.S. program, it is applicable to UK's Bounce Back Loans, and Australia's SME Guarantee Scheme as well.

Srini Rangaswamy (00:37):
Our demo story begins after a small business owner, Rachel, submits her application for a PPP Loan. Now she must upload the supporting documents, like EIN letter and a W3 to Box, for review. Once uploaded, the documents are automatically synced with the Salesforce account record. This ensures the entire lending team has visibility into Rachel's data, and the loan officer, Max, can work on it right away.

Srini Rangaswamy (01:05):
Now to keep the underwriting team in the loop, IT implemented an API for GLYNT, an artificial intelligence solution that extracts the data from Rachel's documents to trigger an underwriting workflow within the bank's LOS (loan origination system).

Srini Rangaswamy (01:19):
There are no delays, clumsy handoffs, or data re-entry. Each system and step in the origination process is connected from document upload to loan officer review to underwriting. Thanks to the seamless integration between Box, Salesforce, GLYNT and the LOS, which is orchestrated using MuleSoft. Now let's briefly look at how this is built using our Anypoint Platform.

Srini Rangaswamy (01:45):
Here's the Anypoint Exchange, which has a pre-built API connectors for commonly used systems, like Box and Salesforce. And here are the 40 APIs, or the building blocks, used for creating this loan origination experience. This is the Salesforce account API, which uses the out-of-the-box connector to manage attachments.

Srini Rangaswamy (02:07):
Now let's look at the GLYNT API. This is a powerful API that translates a document into JSON object, while abstracting the underlying complexities of an AI solution. Now Cumulus Banks IT team can import these assets from Exchange into Anypoint Studio, and create an integration workflow with just a few clicks.

Srini Rangaswamy (02:28):
The bottom flow uses the Box API to get documents in near real-time, and then uses the Salesforce API to attach them to the account object. On the top, you see the documents from Salesforce are passed through the GLYNT solution, and the results are sent to their LOS system.

Srini Rangaswamy (02:45):
As you can see composing this workflow is as simple as downloading assets from Exchange, dragging and dropping them into a workflow in the studio. That's just the first part of the lending experience. Now I'm going to turn it over to Venkat, to show how after a few months later, the bank can efficiently process Rachel's application for loan forgiveness.

Venkat Sharma (03:06):
Hi Srini. Hi, my name is Venkat Sharma. I'm the principal solutions engineer within the channels and alliances here at MuleSoft. I'll walk you through the loan forgiveness process and PPP Framework. Now for the forgiveness part of the loan, Rachel begins the process of completing the application in the Cumulus Borrower Community. So she completes her borrower information, and then clicks "next" to upload her documents; supporting documents for SBA tax documents, insurance documents, [leaves 00:03:40] documents. She clicks next, and then finally she submits the application.

Venkat Sharma (03:45):
So under the covers is where eight of those MuleSoft APIs of the PPP Loan Forgiveness act. Actually, one of the APIs is the e-signature at attestation API. So this API, under the covers, captures Rachel's loan application information, and sends it to DocuSign for signature. So when I say send, Rachel will review the document and a request to sign that document from DocuSign. She completes that document by actually attesting this document.

Venkat Sharma (04:30):
As you can see here, it's populating the information. So there's all the information she entered. She will quickly do the initials. Here. And then she's going to actually sign this document, and then it's finished. Now, as you can see, the hardest part is about how to capture the event that the Rachel has completed her attestation, and submit Rachel's completed application and supporting documents to SBA.

Venkat Sharma (05:07):
You all know that how painful that was when uploading files or RPA-driven data entry, during origination process. But today Cumulus Bank has a better approach. So they are using MuleSoft PPP framework for integration, and then it has templates in our Exchange.

Venkat Sharma (05:26):
If you go to our Exchange, mulesoft.com, and Exchange and type in "SBA," you will see those templates, those supporting APIs for fulfilling that load submission process to SBA. So one of them is the connector that helps to translate the application requests to send to E-Tran.

Venkat Sharma (05:50):
So as you can see, submitting forgiveness requests is one of the APIs under the covers, which acts to send back application, or to SBA. And then the other API used for uploading those documents. But since Rachel has uploaded those documents, the MuleSoft APIs under the covers, take that document and submit to E-Tran, as you can see here. So let's click this and then see the response coming back with the confirmation that the documents has been submitted, as you can see here.

Venkat Sharma (06:27):
So these are some of the core capabilities, what MuleSoft provides, and this has really benefited Max, and his lending team at Cumulus Bank. So in conclusion, we can pay back Cumulus Bank IT directors, have accelerated development by streamlining her lending experience, by using and reusing a lot of those API's available out-of-the-box. Hope this is useful. Thank you.

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