Glossary of Terms

Real-Time Capture

Definition

Real-Time Capture refers to the automated collection of borrower data as it is submitted, analyzed, and verified within seconds. This process eliminates manual data entry delays and ensures loan applications are processed faster and more efficiently.

Unlike traditional data collection methods, which rely on batch processing and manual verification, Real-Time Capture leverages AI and API integrations to instantly retrieve and validate borrower information.

Why is it important to SBA Lending

SBA loans require extensive documentation and verification, often leading to slow processing times and abandoned applications. Real-Time Capture solves these challenges by:
-Reducing application delays: Captures and processes borrower data instantly.
-Eliminating manual errors: Automates data entry to prevent mistakes and missing information.
-Enhancing borrower experience: Allows applicants to complete forms faster with fewer interruptions.
-Improving lender efficiency: Enables loan officers to make quicker, more informed decisions.

What role does Parlay Play

Parlay’s Real-Time Capture system helps community banks and credit unions:
-Integrate seamlessly with APIs: Pulls applicant data from tax records, financial reports, and credit bureaus instantly.
-Automate compliance checks: Ensures SBA loan applications meet regulatory standards in real time.
-Enhance loan readiness assessments: Provides instant feedback on missing or incorrect information.
-Reduce application abandonment – Speeds up the process, keeping borrowers engaged.

Real-Time Capture accelerates SBA loan processing, reducing errors and improving borrower experiences. Parlay’s AI-driven system ensures faster loan approvals, increased lender efficiency, and a seamless lending journey for small businesses.