Power Automate for tedious tasks

If you have a tedious Paper-based data entry system, Microsoft Power Automate can help. Consider this example. The mortgage industry had a seismic shift over the last five to 10 years.

Mortgage brokers used to see a borrower in person to give them a loan. When you would meet, there would be an application with over 30 pages of paper to fill out. Often you would fill out the application in pen. Occasionally, you could type it out in advance.

After the application was signed, the broker needed to go back to the office, mail it, or fax it to the office. At this point, the assistant could then scan the entire application to email it to underwriting and start running their credit.

At this point, you might have to go back to them and ask them to fill out more information.

To streamline this system, a lot of banks like Bank of America, Citi, Chase, and Guaranteed Rate created easy to share digital forms borrowers can fill out online. You don’t need to meet your loan officer. Once a borrower fills out the application, all their info goes straight into the system.

The data is ready for underwriting automatically. Furthermore, the process becomes faster and more convenient.

You don’t have to be Bank of America or Citi though to create these automated processes. You could use Power Automate and some of the systems we’re going to show you.

In fact, the application we’re going to talk about, that demo, is going to show you how to create some of those forms for internal use, and then how to use that to automate that process.