Case Study: BMO Harris Bank achieves streamlined, highly accurate loan processing with Fiserv LoanComplete

LoanComplete™ Brings New Efficiency to Loan Processing at a Leading Bank

Bmo Harris Bank, a leading U.S. financial institution, was originating a high volume of home loans but struggled to board closed loans correctly into its mortgage servicing software, creating extra work, lost documentation and compliance risk. To solve this, the bank engaged its long-time technology partner Fiserv and implemented LoanComplete to streamline workflows and ensure accurate data movement.

Fiserv’s LoanComplete provided end-to-end life-of-loan monitoring, intelligent document classification and automated data extraction, enabling Bmo Harris Bank to electronically classify 98% of mortgage documents and transfer 96% of data elements accurately into the servicing platform. The solution raised automated processing from ~77% toward over 90%, expanded active QC coverage from 10% to 100% without adding staff, and delivered reporting that simplified compliance audits — all delivered and supported by Fiserv.

Bmo Harris Bank

Anthony Pyatt

Lead Technology Officer