In recognition of the efforts in automating credit scoring and risk assessment for the automotive lending industry, the International Asset Finance Network has honored TurnKey Lender, a leading software provider for credit scoring, decision automation, and loan management, for excellence in innovation with its annual Award in the ‘New Entrant’ category.
Hailed as one of the highest honors in the International Asset Financing Industry, the annual IAFN Award in the ‘New Entrant’ category is designed to recognize the asset finance company, broker, fleet leasing company or supplier to these businesses. The IAFN recognizes TurnKey Lender as a reliable and innovative supplier of the SaaS solution to the automotive industry.
TurnKey Lender’s cloud-based alternative financing software system allows automotive lenders to make the right decisions in minutes. The software delivers speed and accuracy in credit decisioning, loan-to-value determination, application processing, and payment management. It allows the lender to refine the customer’s risk profile to optimize pricing and/or mine the customer’s data to identify individual marketing opportunities. The software is fully customizable and delivers the ultimate to the automotive dealers specializing in in-house financing where the risk tolerance parameters are constantly changing
“Given that the Internet has changed the auto lending industry dramatically, and that 84% of all automotive assets in the world are financed in some way, a SaaS solution can make or break a dealer. The decision has to be made literally in minutes, if not seconds. The appraising tools, the approval process, the follow-up schedule, the service records – they all have to be on-hand, updated and easily accessible to the desk. The TurnKey Lender software targets all the objectives of an in-house financing department and we are infinitely grateful to the IAFN for recognizing our innovative spirit and the desire to change things for the best,” said Elena Ionenko, head of business development for TurnKey Lender.
The 2018 Awards were announced at the IAFN Awards gala dinner on September 13, 2018, at the Park Plaza London Riverbank following the IAFN Conference.