We understand what it takes to run a profitable online lending operation. Our software functionality was steeped in our business and technology background, and then we enhanced our internal expertise with extensive research on client and customer needs and wants. The result was worth all the hard work, because it helped us deliver a platform that meets your every need. And we’ll continue to stay out in front of consumer and technology trends, because they’ll definitely change over time.

7 Pain Points Of Online Lenders

We’re veterans of the lending industry, which means we learned our lessons in the trenches. We recognize the 7 pain points faced by all online lenders, and we know how to solve them.


7 Pain Points Shared
By Online Lenders
Turnkey Lender
Fully Managed Solution
Lean resources & limited time Gain time efficiencies with automated processing.
Limited working capital Modular approach makes us affordable for solo online lenders and mid-size financial institutions.
Regulatory compliance Timely updates keep you on top of the latest changes to banking regulations.
Accurate risk assessment & credit decisions Access to our proprietary credit risk score card for optimal risk assessment and pricing.
Debt collection Built in triggers keep you out ahead of payment issues before they can escalate to the bad debt bucket.
Lack of enterprise level IT expertise Fully managed solution that’s easy to access and easy to use with 24/7 tech support when you need it.
Quality lead generation If you can provide the leads, then Turnkey Lender can provide the rest.

Turnkey Lender Fully Managed Solution

With Turnkey Lender you get deep expertise in credit risk management and lending automation, gained from more than a decade of international financial services experience. We offer a wide range of product and services. Our clients use our software for a payday loan, student loans, and auto loans. They leverage innovative solutions to support crowd sourced and peer-to-peer loans. They enable humanitarian efforts such as micro loans in emerging economies that help to alleviate poverty. And they engage in complex credit bureau eco-systems as well as billion dollar multi-national financed infrastructure projects in conjunction with the World Bank.

We launched Turnkey Lender in response to a gap in the market place when it came to smaller lenders. These companies require the same comprehensive software platform as a large retail lender, but often lack the working capital to develop their own automated processing system and their own credit scorecard.

Turnkey Lender is the only software platform available today that was designed to provide a truly holistic solution for entrepreneurial and mid-size lending institutions. If you can provide the sales leads, then Turnkey Lender can complete the process for you.

  • Can apply for loan online, or at any point-of-presence offered by your company
  • log-in to their personal account 24/7 to monitor status and update docs

  • Creation of new loan application
  • Monitoring system recommendations with ability to override decision rules if necessary
  • Entering or revising inputs (funds transfer information, notes on customer conversations, action plan)

  • Proprietary score card
  • Credit bureau report processing
  • Unique set of business rules

  • Customized rules for decision making
  • Internal user management

  • Built in executive dashboard for quick snapshot overview

Front office web interface

Edit Personal Details

  • Select loan terms
  • Create customer account
  • Input application form
  • Automatic redirect to customer “My Account” Profile
  • Live online chat with company team

My Account
  • Requires secure log-in credentials
  • Includes all active loans with loan detail
  • Customer account status indicators
  • New loan application
  • Ability to edit personal details or change password

Back Office Interfaces

General features
  • Accounts lists (choice of 3 layouts)
  • Filter and search options
  • Role-based accessibility (loan originator, underwriter, loan manager, administrator)
  • View payment schedule and accepted payments (delinquents are highlighted, and installment amounts are displayed)

Loan origination
  • Create new loan applications (auto-fill feature for existing customers)
  • Calculates payments and creates payment schedule
  • Edit feature (change loan amount, terms, interest rate, customer information)
  • Flag for auto-processing
  • Record and report on customer interaction history
  • Download and print loan agreements
  • Attach supporting docs to application (i.e., identification)

Automated
  • Automated risk scoring, based on a scorecard and set of decision rules
  • Integrated with online credit bureau reports
  • Credit scores, internal credit activity and system recommendations are displayed to support underwriters and originators
  • Underwriter can override system decisions, and send loans to originator for reprocessing

Payment schedule and accepted payments
  • Loan disbursement:

    • Manual (information about disbursement can be entered into the system)
    • Automatic (integration with a payment system is required)

  • Customer interaction history recorded
  • Payment Collection

    • Manual (disbursement information can be entered into the system)
    • Automatic (integration with a payment system is required

  • Borrow can request loan rollover
  • Able to review loan application archive (repaid, written off, and rejected loans)

Promise to pay
  • Payment Collection

    • Manual (information about disbursement can be entered into the system)
    • Automatic (integration with a payment system is required)

  • Collection agent’s action planning
  • Ability to store the “promise to pay” information
  • Ability to write-off or write-down loans
  • Scripts of Collector’s conversations: texts that should be read by the Collector when calling the borrower. Different texts for different states of delinquency (including the cases when the borrower failed to fulfill a promise to pay) are provided in the system
  • Loan restructuring (changing a number of installments with automatic recalculation of installments’ parameters)

Reports
  • Executive Dashboard

    • Portfolio ratings
    • Performance ratings
    • Risk ratings
    • Collection ratings

  • Portfolio reports

      • Active loans vs Portfolio
      • Overall repayment amount per interval
      • Number of loans grouped by amount
      • Number of loans grouped by a risk level
      • Repaid vs Disbursed
      • Approved vs Rejected

Decision rules management
  • User management

        • Create, edit and delete users
        • Roles and responsibilities can be assigned to users
        • Search users

  • Decision rules management

        • Rules can be enabled/disabled
        • Rule parameters can be set
        • Recommended decision can be set for all rules

  • Scorecard management

        • Ability to add a custom scorecard
        • Flexible editor of scoring categories and scoring weights
        • Ability to define properties for different risk segments, such as PD and odds value, recommended system decision and comments, min/max score and more

  • Email notification rules can be configured
  • Internal black lists management

        • Internal black lists can be managed and used in decision rules
        • New records can be added to the Black list directly from the loan details screen
        • Blacklists can be managed by the System Administrator

  • Ability to create a number of credit products with the following parameters:

        • Minimum and maximum amount of granted loans
        • Minimum and maximum credit period
        • Interest rate
        • Overdue interest rate
        • Grace period

  • Export of information about available loans and payments in the XLS and CSV formats
  • Import of data from external files (XLS, CSV ) of a corresponding structure to the blacklists of the system
  • Ability to specify past due periods in days and determine fees according to periods of delinquency

Proprietary Credit Scorecard

Turnkey Lender wrote the book on decision management and risk mitigation solutions. And we leveraged every page of that book when we developed the proprietary Turnkey Lender credit risk score card. It’s truly the best of the best, because it includes nuanced performance indicators like social network behaviors. The system monitors personal online activity searching for self-reported, behavioral patterns that would indicate increased or decreased credit risk that could impact the risk profile of this individual.

Are you ready to reap the rewards of an enterprise-grade online lending software platform?
One with all the functionality reserved for big financial institutions, but specially designed for a small to mid-size lender?