Popular Bank embraces Collateral360 ® to optimize CRE lending operations. Popular Bank relied on an archaic and time-consuming appraisal process, making it challenging to efficiently execute on their CRE lending strategy and remain competitive. Collateral360 provides Popular Bank with a single platform to perform comprehensive due diligence,, ensuring each loan is managed to credit and risk policy. • Optimized workflows: Collateral360 offers a single platform for financial institutions to communicate and collaborate. • Efficient processes: Streamlined workflows means your team is working as efficiently as possible. • Fast ROI: Comprehensive and dynamic training ensures your team is up and running as quickly as possible. PROBLEM SOLUTION BENEFITS (800) 624-0470 [email protected] © LightBox, 2020. All Rights Reserved. Rev. 04/20 Success Story About LightBox Through the delivery of market-leading workflow, data and GIS capabilities, LightBox enables the success of over 100,000 CRE brokers and investors, 1,100 banks and lenders, 2,000 appraisal firms, 5,000 environmental consulting and engineering firms as well as thousands of home builders, land developers, government agencies, and energy companies. To learn how LightBox can enable your success, visit www.lightboxre.com. With more than 50 branch locations, Popular Bank has been dedicated to its customers and communities for over 120 years. Bank Vice President and Property Appraisal Analyst Fred McDonald shares why the Bank now relies on Collateral360. Proactively optimize your workflow When McDonald joined Popular Bank in 2015, the bank was using outdated workflows, so he decided to onboard Collateral360 to optimize business practices. “Popular Bank’s Corporate Credit Risk Department is very proactive on technology and, with Collateral360, we see it as a very effective tool,” McDonald said. “In our industry we must constantly reinvent ourselves and leverage whatever automation we can, and LightBox is constantly trying to figure out how best to serve the appraisal community.” Save Time and Manpower McDonald said that boost in output is the direct result of the increased efficiency made possible by Collateral360. “The way I measure it is, if all of the account officers weren’t doing the inputs into the system and they were sending me emails, then I’d have to take those emails, copy and paste, send it to the appraisers, and then get the email back,” he said. “For us, that’s probably 50-75% of time savings, and we’ve probably saved hiring at least two full-time employees.” Quick onboarding for faster ROI Collateral360 onboarding is fast and thorough to ensure your team starts experiencing ROI quickly. “Never before in my experience with implementing technology have we been able to get completely up and running in under six months,” said McDonald. “We were able to do it in basically 60 days after purchase.” Popular Bank now averages 75 deals per month since implementing Collateral360

Success Story - LightBox · Proactively optimize your workflow When McDonald joined Popular Bank in 2015, the bank was using outdated workflows, so he decided to onboard Collateral360

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Page 1: Success Story - LightBox · Proactively optimize your workflow When McDonald joined Popular Bank in 2015, the bank was using outdated workflows, so he decided to onboard Collateral360

Popular Bank embraces Collateral360® to optimize CRE lending operations.

Popular Bank relied on an archaic and time-consuming appraisal process, making it challenging to efficiently execute on their CRE lending strategy and remain competitive.

Collateral360 provides Popular Bank with a single platform to perform comprehensive due diligence,, ensuring each loan is managed to credit and risk policy.

• Optimized workflows: Collateral360 offers a single platform for financial institutions to communicate and collaborate.

• Efficient processes: Streamlined workflows means your team is working as efficiently as possible.

• Fast ROI: Comprehensive and dynamic training ensures your team is up and running as quickly as possible.

PROBLEM

SOLUTION

BENEFITS

(800) 624-0470 [email protected]

Success Story

About LightBoxThrough the delivery of market-leading workflow, data and GIS capabilities, LightBox enables the success of over 100,000 CRE brokers and investors, 1,100 banks and lenders, 2,000 appraisal firms, 5,000 environmental consulting and engineering firms as well as thousands of home builders, land developers, government agencies, and energy companies. To learn how LightBox can enable your success, visit www.lightboxre.com.

With more than 50 branch locations, Popular Bank has been dedicated to its customers and communities for over 120 years. Bank Vice President and Property Appraisal Analyst Fred McDonald shares why the Bank now relies on Collateral360.

Proactively optimize your workflow

When McDonald joined Popular Bank in 2015, the bank was using outdated workflows, so he decided to onboard Collateral360 to optimize business practices.

“Popular Bank’s Corporate Credit Risk Department is very proactive on technology and, with Collateral360, we see it as a very effective tool,” McDonald said. “In our industry we must constantly reinvent ourselves and leverage whatever automation we can, and LightBox is constantly trying to figure out how best to serve the appraisal community.”

Save Time and Manpower

McDonald said that boost in output is the direct result of the increased efficiency made possible by Collateral360.

“The way I measure it is, if all of the account officers weren’t doing the inputs into the system and they were sending me emails, then I’d have to take those emails, copy and paste, send it to the appraisers, and then get the email back,” he said. “For us, that’s probably 50-75% of time savings, and we’ve probably saved hiring at least two full-time employees.”

Quick onboarding for faster ROI

Collateral360 onboarding is fast and thorough to ensure your team starts experiencing ROI quickly.

“Never before in my experience with implementing technology have we been able to get completely up and running in under six months,” said McDonald. “We were able to do it in basically 60 days after purchase.”

Popular Bank now averages 75 deals per month since implementing Collateral360