Looking for a Cloud Lending Alternative?

We’ve compiled the full comparison of TurnKey Lender and Cloud Lending solutions to help organizations, who are looking to automate their lending processes to find the best match for their needs.

vs

Customer Satisfaction

Good For

Banks
Yes
Yes
In-house financing
Yes
No
Alternative lending
Yes
Yes

What are you getting for your money

Services

AI-powered scorecard
Yes
Yes
Credit scoring consulting
Yes
No
Move data from CloudLending
Yes
No

Functionality

Application form
Yes
Yes
Loan status notifications
Yes
Yes
Editable loan applications
Yes
No
Payments scheduling
Yes
Yes
Informative customer's dashboard
Yes
Yes
Adding new loan application
Yes
Yes
Logging contact cases
Yes
No
Reprocessing loan applications
Yes
No
Searching, filtering, and sorting applications
Yes
Yes
Changing loan terms
Yes
Yes
Reprocessing applications
Yes
No
Built-in scorecard
Yes
No
Customizable scorecard
Yes
Yes
Adjustable decision rules
Yes
No
Credit bureau integrations
Yes
Yes
Credit history
Yes
Yes
Automated Loan Agreement generation
Yes
No
Risk-based pricing
Yes
Yes
Multiple collateral types
Yes
Yes
Adding multiple collaterals
Yes
Yes
Collateral evaluation
Yes
Yes
Collateral reevaluation
Yes
Yes
Editing collaterals
Yes
Yes
Automatic payments
Yes
Yes
Restructuring
Yes
Yes
Viewing payment schedule
Yes
Yes
Recalculation of the payment schedule
Yes
No data
Logging payments manually
Yes
Yes
Automated loan disbursement
Yes
Yes
Credit portfolio
Yes
Yes
Operational report
Yes
Yes
Risk statistics
Yes
Yes
Scorecard report
Yes
No data
Underwriters' productivity
Yes
No data
Blacklists
Yes
No
Electronic signatures
Yes
Yes
Automated email notifications
Yes
Yes
Automated SMS notifications
Yes
Yes
Multiple Credit Products
Yes
Yes
Data export and import
Yes
No
Coventans
Yes
No

* All the Cloud Lending product information was collected from open sources before 1st of August 2019.

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