BankLabs’ Construct product is an easy-to-use, web-based service that automates the construction loan management process for residential and commercial projects. Accessible from any mobile device or computer, it eliminates paper files and spreadsheets, improves loan officer and loan admin productivity and improves the experience for the borrower, builder and other stakeholders.
Construction Loan Automation
50% more efficient
8% -12% increased draw interest
Differentiate with mobile access
Provides secure, instant access to loan details, documents, photos, inspection reports and draw history.
Uses standard and custom budget templates.
Roles Based Security
Supports different user roles: loan officer, admin, inspector, builder, borrower, examiner and bank executive.
Integrated with +Pay
Integrated with +Pay construction payment automation. Increase fee income and attract deposits.
Inspections via Mobile Device
Automates the inspection process.
Automatically calculates the available draw amount
Customized reporting for bankers, builders, and borrowers
Phone and e-mail support for all users.
Our startup process is designed to minimize efforts required by bankers and outside stakeholders. The first step is a 30-minute online demo.
Learning Construct is quick and easy with intuitive navigation. Go-live training takes one hour and can be done remotely.
We even offer a 30-day free trial to prove it is effective for your financial institution. No strings attached.
Residential and commercial loans make up 15% of our bank’s portfolio, and that figure has been as high as 23% this year. Construction loans are typically seen as the largest risk to a bank's portfolio. Anything that makes these loans less risky is a huge benefit. Since implementing BankLabs' automation software, the bank has sped up the lending process and reduced errors. Previously, a draw from a loan involved multiple people cross-referencing spreadsheets and could take as long as three days. Now, we have completely eliminated the use of spreadsheets and the draw process has become virtually instantaneous. The time spent communicating with borrowers and builders has also been significantly reduced because they can both log on and see all of their respective loans in one spot. They can also be notified of inspections and request draws online rather than via phone or email.– Lexie Garrison Chief Credit Officer at Valliance Bank in Oklahoma City, Oklahoma