Loan Origination Software System for Lending Businesses
Loan origination software is an essential tool in today’s highly competitive lending arena. It makes financing companies more profitable in two different ways. First, loan application and processing software uses automation to increase employee productivity, reduce workforce hours, lower payroll expenses, and lower overhead expenses. Second, the right loan origination system uses advanced credit scoring to reduce credit risk and improve portfolio yields.
Turnkey Lender brings your small to mid-size lending operation an all-in-one solution with several business benefits that create a strong competitive advantage against all the new lenders popping up every day of the week.
Let’s start with convenience. You get several software systems integrated into one simple cloud-based platform. Plus there’s the added benefit of consolidated data across all your customers’ loan products, allowing you to identify upsell and cross sell opportunities while the application is still being processed.
You enjoy simplified reporting across all aspects of your customer relationship from application to payment history to additional product applications. This makes it easier to quantify the lifetime value of your customers. And your marketing team can profile your best customers to optimize your future marketing efforts.
One integrated platform makes it faster and easier to train staff on the new system.
And at the end of the day it’s always more efficient for you as a company leader to manage one supplier relationship, instead of juggling multiple vendors.
Automation Increases Efficiency
Turnkey Lender automates the process with a loan origination software system that supports borrower evaluation and loan underwriting in three key areas: best practice workflows, scoring techniques and credit decision analytics. The result is a process that substantially reduces the average amount of time required for an application decision, and fewer applications that need a manual review to complete the process.
Advanced Credit Scoring Improves Portfolio Yield
This loan application and processing software enables lending organizations to minimize financial risk exposure in addition to increasing their operational efficiency. Proven scoring techniques allow evaluating and projecting the credit-worthiness of potential customers. Our system provides flexible management of the lender’s credit rules, credit policies and scoring models. This easy-to-use configuration eliminates vendor dependency and internal IT staff involvement.
Comprehensive Software Functionality
- Automated decision-making and borrower evaluation cycle
- Automated calculation of optimal loan parameters: loan amount, term of the loan, interest rate, etc.
- Customer risk segmentation
- Flexible management of the lender’s credit rules, credit policies and scoring models
- Remote access for distributed sales points
- Setting individual evaluation processes for different products, portfolio segments and business lines
- Evaluating the efficiency and adequacy of the loan origination system’s performance and staff productivity
- Ability to swiftly adjust credit policy (new lending rules, changes in lending rules, appropriate risk margin)
Supports Multiple Loan Products
The Turnkey Lender software system supports a wide variety of loan industries and lending products including: microfinance, cloud lending, peer-to-peer lending, payday loans, credit unions and lending cooperatives, equipment leasing, telecom lending, alternative lending, retail lending, POS financing, direct lending, SME lending, auto lending, mortgage lending, and medical financing. So we’ve got you covered regardless of the size of your lending operation, the types of loan products you offer, or the specific software functionality you require.
With Turnkey Lender financing organizations quickly improve loan portfolio quality, reduce operational costs, improve regulatory compliance and control bad debt losses.
One with all the functionality reserved for big financial institutions, but specially designed for a small to mid-size lender?