GoDocs announced a strategic partnership with AVANA CUSO, a Credit Union Service Organization (CUSO), aimed at transforming the loan process and reducing legal costs. The collaboration has enabled AVANA CUSO to streamline operations, reduce expenses, and ultimately enhance the borrower experience, positioning them for continued growth and success in an increasingly competitive market.
By implementing GoDocs' automated legal document generation platform, AVANA CUSO was able to replace their attorney-based process with a faster, more affordable solution. GoDocs provided a tailored LegalNet™ workflow that seamlessly integrated into AVANA CUSO's existing processes, ensuring compliance while reducing the cost and time associated with document creation and resulting in a 75 percent reduction in legal fees per loan.
"While we were committed to maintaining compliance and offering high-quality financial services, the traditional attorney-based process was becoming increasingly costly and inefficient," said Matt Hunt, Chief credit officer, Avana. "By streamlining our legal document process and significantly reducing costs with GoDocs, we've been able to offer more affordable loans while maintaining full legal compliance and enhancing the overall client experience. We should have made the switch to GoDocs a long time ago. We love the product and the access to legal services when we need them."
In addition to reducing costs, the partnership with GoDocs has had a significant positive impact on Avana's customer satisfaction. AVANA's Credit Union partners have expressed greater satisfaction with more affordable documentation for their borrowers. The streamlined process has made borrowing faster and more transparent, providing an experience that borrowers are more likely to return to and recommend to others.
"In today's competitive lending market, inefficient, expensive processes can lead to diminished borrower satisfaction, a weakened reputation, and ultimately, lost opportunities for repeat business and referrals. Borrowers expect a smooth, transparent, and hassle-free experience, especially when navigating complex transactions," said Adam Craig, CEO GoDocs. "GoDocs has designed our solutions to help lenders like Avana streamline their workflows, reduce costs, and provide an experience that keeps borrowers coming back and referring others. By automating document generation and ensuring full compliance, we empower lenders to enhance both efficiency and customer satisfaction—critical factors for long-term success."
