Case Study: Sturgis Bank & Trust Company accelerates loan processing with OnBoard from Passageways

How Sturgis Bank & Trust Company Used OnBoard to Accelerate Loan Processing and Reduce Meeting Time by 75% —Even While Social Distancing

Sturgis Bank & Trust Company, a commercial bank with a large loan pipeline, needed a faster way to process more than 100 loans each week while also shifting to virtual operations during social distancing. The bank’s traditional, paper-based approval process required physical signatures and too many manual handoffs, creating delays for loan officers and committee members.

Passageways’ OnBoard platform gave Sturgis Bank & Trust Company real-time loan approval workflows from anywhere, with uploaded applications, instant notifications, faster Q&A, and automated approval alerts. As a result, loan processing accelerated, funds were dispersed faster, and committee meeting time dropped by 75% from two hours to about 30 minutes.

Sturgis Bank & Trust Company

Jason Hyska

Senior Vice President, Retail Lending