Citizens State Bank picks Lendsmart for mortgage solutions upgrade

Citizens State Bank picks Lendsmart for mortgage solutions upgrade
Written by Publishing Team

Wisconsin-based Citizens State Bank has chosen digital lending platform Lendsmart to upgrade its mortgage and digital lending capabilities.

Lendsmart technology will allow the bank to process more loans

Citizens State Bank will implement Lendsmart’s proprietary AI technology that allows customers to autocomplete mortgage application items, validate data in real time to provide instant approvals and bring all parties together on a single platform.

“Our centralized platform reduces loan creation processing time and saves operational costs to benefit both lender and borrower,” says Lendsmart CEO and Founder, AK Patel.

Lendsmart says its technology digitizes up to 70% of home lending and purchases, automates manual tasks, improves accuracy, reduces lender risk, and lowers construction and operating costs.

Citizens State Bank says the upgrade will allow it to process a larger loan volume and reduce waiting times for its customers to a few weeks.

Founded in 1904, Citizens State Bank is a privately owned community bank focused on commercial and personal banking products.

Sean Tyler, Citizens State Bank’s senior vice president and chief credit officer, says Lendsmart’s technology will allow the bank to keep pace with rapid technological changes in the banking industry.

Tyler adds: “Lendsmart will allow us to offer a more efficient process with one comprehensive platform that brings together what was previously a disjointed process.”

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