TurnKey Lender’s H&R Block Engagement Shows Lending Tech’s Resilience
Digital strategies change strategies to technologies In recent history, systemic disruptions have hit digital strategies hard. But in the coronavirus emergency — for reasons linked to the spread of COVID-19 and for considerations of a more permanent nature — things could be different for fintechs that help other businesses achieve efficiencies and curtail facetime. Tax […]
Intelligent Paycheck Protection Program Automation for Lenders
The PPP is an enormous opportunity for creditors to help their communities in a time of crisis while adapting their business practices to the new reality. TurnKey Lender is part of a global effort to mitigate the economic impacts of the Covid-19 crisis. Covid-19 is changing the way business is done everywhere. Lenders who were […]
Lending Tech Primed to Help Traditional Players Make Emergency SBA Loans
“We’re a company with a significant presence in Asia as well as America, so we’ve been a major player on the ground in this crisis nearly from the start,” says Ionenko. “We’ve seen how it unfolds, and we know that speed and capacity are crucial to lenders right now.” Lending-technology providers are essential to helping banks […]
How to Customize Loan Decisioning Rules in TurnKey Lender
With the new challenging economic reality, the demand for loans has grown and lenders have to adjust their borrower evaluation and decisioning workflows. A sophisticated set of decision rules helps reduce the strain on loan origination officers, cuts credit risks, and streamlines the performance of a business. Decisioning rules help lenders automate loan origination processes […]
How to Add an API Client and Key to Integrate TurnKey Lender with Third-Party Solutions and Services
Digital lending is a complex process. In today’s age of global digitalization, it requires multiple data sources and products to work together and act as one secure and efficient operation. Payment providers, email and SMS services, accounting software, credit unions, and the list goes on. All that needs to be integrated into a one solution […]
How to Launch a New Credit Product with TurnKey Lender
The ability to easily and safely create and manage credit products is crucial in today’s rapidly changing business climate. Different credit products are used to address the needs of individual and SME borrowers who are looking for various loan types and terms in different locations. The TurnKey Lender System comes built-in with functionality that allows […]
Fintech Can’t Stop the Coronavirus, But It Can Help Contain It – Here’s How.
It’s a notorious fact that markets hate uncertainty. Right now, the main source of uncertainty is the novel coronavirus (alias Covid-19), which has infected an estimated 122,000 people worldwide and resulted in the deaths of about 4,300 — for a mortality rate of around 3.4%, according to the World Health Organization. That’s sobering news, and […]
Embedded Lending and the Irresistible Logic of Next-Gen FinTech
“Offering installment payment plans to your customers through embedded lending ‘is the best single decision some companies can make,” says Dmitry Voronenko, CEO of lending software maker TurnKey Lender. What if there were a way to win a substantial, and recurring, chunk of new business? What if this method further required no additional marketing, no […]
Can You Safely Disburse a Loan in Less than Two Minutes? Yes — Here’s How.
Safely disbursing a loan in the shortest time possible and with minimal risks is a constant race for lenders. To this day, it takes lending companies anywhere between 24 hours to a week to analyze the loan application, do the borrower evaluation, gauge the credit risks, decide on the interest rate, and finally, to disburse […]
Collection Scoring in the Age of Artificial Intelligence
Twenty-first century debt collection is backed by a complex system of inputs, algorithms and analysis involving gigantic datasets. Almost by definition, all lenders are collectors. So, while a certain amount of delinquency may be understood as a cost of doing business, that cost doesn’t have to be met with shrugs; not anymore. Artificial intelligence, or […]
Artificial Intelligence Means Better Customer Retention for Lenders
Cracking open multiple data sources can also help lenders spot would-be borrowers worth lending to, even if they have scant credit histories. When you think about it, the key to customer retention is the “Golden Rule,” a maxim found in cultures around the world stretching clean back to ancient Sumer. In modern English, the saying […]
Lending Approval Process: Keeping Pace with Next Gen Borrowers, Part One
There’s a changing of the guard, but it’s not at the palace. Millennials are pushing Baby Boomers out of the top spot for most coveted consumer demographic as this latter group ages and shrinks in size.
