Cloud lending will exceed $1 trillion per year.
The online lending industry is exploding. Inside analysts tell us cloud lenders will extend more than $1 trillion in digital loans per year within 8 years. It’s an exciting industry that’s opened up access to credit at an extraordinary level, but it’s not without its challenges.
Technology isn’t a luxury, it’s a requirement.
If you’re going to lend money online successfully, then you need to close a high volume of personal and business loans, faster and with more affordable pricing than traditional banks. Just to get your foot in the door. What about competing profitably against innovative non-bank lenders? That requires operational efficiencies and an optimal risk profile. Plus consistent accuracy and data security with frequent digital funds transfers.
Cutting edge cloud lending software system.
Advanced technology will be the key differentiator when it comes to winners and losers in the online lending arena. This is a highly specialized discipline that requires sophisticated, specialized online lending software that delivers automation efficiencies, controls risk and improves profits.
Turnkey Lender brings small to mid-size players an award winning, cutting edge origination and account servicing system that functions at warp speed, and evolves to keep pace with the competition. Our fully managed platform reduces approval time from hours to minutes to in-an-instant. And it provides outstanding loan management features for tracking borrower payments and monitoring changes to their credit rating. All with the highest level of accuracy and data security.
We’re constantly evolving the platform with upgrades and all new releases, so your system always remains state-of-the-art. One important feature is our smart credit scoring system that uses machine learning and data analysis to improve the algorithms. The generic scoring template adapts to individual loan applicants, and evolves intelligently over time. The foundation architecture can be further enhanced from our library of alternative scoring models using easy access APIs. This feature is especially useful for lenders in emerging markets where there are few traditional credit reporting agencies, or lenders who target new borrowers with thin credit history.
There’s tremendous competition in cloud lending. However the speed, accuracy, efficiency, and learning qualities of Turnkey Lender technology-enabled lending means your operation will outperform non-bank lenders. As well as traditional banks who treat online lending like another distribution channel for their legacy platforms.
MoneyVeo is completely satisfied with the solution and recommends this company as a supplier in the area of lending, scoring, credit risk management, and consulting…
Jonathan Sarmina, CEO, MoneyVeo, Mexico
Cloud Lending Software – Key Business Benefits
Click on Turnkey Lender Advanced Online Lending Software to learn more about our key business benefits.