Olympia Federal Savings has chosen Built Technologies to bring their construction loan administration to the digital age. Oly Fed is known for providing modern online banking and innovative lending programs, and is migrating their manual construction loan process to Built’s online platform for real-time collaboration, faster disbursements, risk mitigation and more efficient processing.
Oly Fed customers can apply for construction loans online and monitor the project inspection and draw process with a digital, consistent experience. They can request draws easily, schedule inspections with a few clicks, and see the key performance metrics of their loan with intelligent reporting. The technology is a win-win for customers and Oly Fed staff, since it also dramatically reduces the manual labor involved in traditional construction loan administration.
“The transition to a digital construction lending experience gives us the ability to provide even more customers with personal service,” said Richard Pitts, EVP, Chief Lending Officer of Oly Fed. “There is increased demand for these loans and modern financial technology gives us the ability to serve our community even better than before.”
“We’re excited to welcome Olympia Federal Savings”, said Chase Gilbert, CEO of Built. “With their 110-year history and status as a leading portfolio lender, it’s a great compliment to be chosen as part of their customer service mission.”