Florida UCC operations now offers convenient, integrated online filing
Image API optimizes business processes for securing more than $9B in loans annually in Florida
For nearly two decades, Image API has provided professional business process services to the State of Florida to support Uniform Commercial Code (UCC) filings, a public record that must be filed by lenders for commercial loans. The filing process was manual and labor intensive, and the Department of State sought to improve efficiency and transparency for UCC operations.
Image API developed an end-to-end solution, beginning with digitization of more than 7.8 million filings and a business solution to handle the administration of all future UCC filings.
The Department of State engaged Image API to manage UCC operations, and Image API has since processed records associated with over $9 billion in loans annually.
Filing with UCC in Florida is now convenient and accessible via an online self-service portal – created and maintained by Image API – and which features integrated payment processing for a seamless user experience.
Filings and payments can also be made in person, at a facility operated by Image API’s business service professionals.
The value delivered for the Department of State? Reduced overhead costs, increased revenues, and improved customer experience. In addition, by using professional services to manage UCC filings, the Department of State offers citizens reliable performance and public transparency.
Project Summary
Challenges:
- Labor intensive, manual process was inefficient
- Filing process was inconvenient for lenders and staff
- Paper records made sharing and posting content for public transparency difficult
Solution:
- Digitize over 7.8 million historical filings
- Launch and maintain online self-service portal for filings, integrated with lenders
- Implement professional business process services team to handle intake and processing of ongoing UCC filings in the State of Florida
Results:
- Reduced costs and increased revenue
- Improved customer experience with online portal for filings
- Digital filings improved public transparency
