Payday Loan Software

Payday loan management software that is powerful and always regulatory compliant

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The product has the vast majority of the functionality right out of the box, was easily integrated with a credit agency to pull FICO scores and the support team did an outstanding job making our requested customizations.

Christopher Reed
Principal
Shepard Capital Partners
USA

eny Finance is fully satisfied with the Turnkey Lender solution and its reliable team. I’m happy to recommend Turnkey Lender lending solution and services.

Bonart Kerimi
CEO
eny Finance AG
Switzerland

We evaluated many systems and are happy to have chosen Turnkey Lender.

Bill Hilliard
CEO
EcoVolt Finance
USA

For me, as the owner of a start-up lending company, it was a little unusual to use this type of product for my business. But, as they say, "Time is money!" That's why it is important for me to use a solution like Turnkey Lender.

Robert Farmer
Owner
QuickPound

We evaluated many systems and are happy to have chosen Turnkey Lender.

Bill Hilliard
CEO
EcoVolt Finance
USA

For me, as the owner of a start-up lending company, it was a little unusual to use this type of product for my business. But, as they say, "Time is money!" That's why it is important for me to use a solution like Turnkey Lender.

Robert Farmer
Owner
QuickPound

eny Finance is fully satisfied with the Turnkey Lender solution and its reliable team. I’m happy to recommend Turnkey Lender lending solution and services.

Bonart Kerimi
CEO
eny Finance AG
Switzerland

The product has the vast majority of the functionality right out of the box, was easily integrated with a credit agency to pull FICO scores and the support team did an outstanding job making our requested customizations.

Christopher Reed
Principal
Shepard Capital Partners
USA

Trusted by users:

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Certified:

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Opportunity

12 million borrowers. $9 billion fees earned

According to Pew Research (2016), more than 12 million Americans use payday loans each year, generating more than $9 billion in revenue for lenders. The average amount of interest earned per client is high, because many borrowers use the service multiple times during the year. It’s easy for lenders to get in front of these borrowers using online marketing channels. According to Google Analytics, there are 670,000 Internet searches for “payday loans” each and every per month.

payday-loans-opportunity
payday-loans-obstacle

Obstacle

Software for payday loans: increasing government scrutiny

The regulatory environment has become more restrictive as the bad apples generate negative press and unwanted legislative attention from the CFPB (Consumer Financial Protection Bureau). Their newly proposed rulings could restrict interest rates and extend the repayment term. The competition uses extremely aggressive marketing promises like: instant decisions, bad credit approved, and $100, $1,500 or $20,000 in your account within 24 hours.

Solution

Simplify complex requirements with technology-enabled lending

Turnkey Lender delivers superior automation and credit scoring. You’ll enjoy speed, accuracy and high security; regardless of whether the system is checking income, verifying employment, or integrating the borrower’s DDA. And with Turnkey Lender you gain two important advantages. First, our system is cloud-based, so any new regulatory compliance rulings are automatically incorporated into the foundation of our rules-based system. Plus the cloud-based platform makes it easier to launch than software out of a box. Second, our system includes alternative credit scoring models that provide more accurate profiling and risk-based pricing with prospects who may have thin credit files.

Fully automated payday loan software system

Customizable workflow for payday lending automation

Turnkey Lender is scalable and robust. It allows you to expand your payday lending business and adjust credit decisioning processes.

Automated risk assessment

With our credit scoring models for payday lending, you can accurately assess credit risk. You can develop risk-based pricing that will attract borrowers and improve profitability.

Real-time reporting for credit risk management

Tailored credit risk reports will help you proactively manage your cash advance lending business.

We offer 14-days free trial. Upgrade or downgrade any moment. Request Free Trial Now

Advantages compared to other payday lending software

Time to market

With Turnkey Lender you will optimize portfolio yield by working only with the most profitable customers. Predictive models will help you identify best rate and loan term.

Increased operational efficiency

Act fast by taking the right decisions, supported by artificial intelligence. You’ll see fewer manual reviews and more first pass approvals.

Modular architecture

Turnkey Lender works as a web app, so you can log in from anywhere and work on processing loan applications. There is no need to manually install software on all the desktop computers of your team members.

Powerful credit decisioning

Our clients use our software for a payday loan, student loans, auto loans, crowd sourced and peer-to-peer loans. We support micro lending in emerging economies and engage in complex credit bureau eco-systems.

IT support and customer service

We offer full technical support and we are always here to answer any questions. Our experts will guide you through every step of set up and customization process.

Fraud prevention

Our product is built out of units. You can start small and extend functionality later on. As you grow, the tool will grow with you! Modular approach makes us affordable for solo online lenders and mid-size financial institutions.

On average, here is the difference Turnkey Lender made for our clients:

Operational efficiency
has grown by

283%
Total portfolio profitability
has grown by

49%
Client lifetime value
has grown by

67%
See how we automate every step of online lending:
origination, underwriting, collateral, servicing, collection and reporting.
Request Free Trial Now

from Turnkey Lender Blog

2018: New payday rules, new era for savvy lenders

It looked like new payday loan regulations were set in stone when the CFPB (Consumer Financial Protection Bureau) published their Final Rule on Payday, Vehicle Title and Installment Loans in the Federal Register on November 17, 2017. These restrictive new rules have an effective date of January 16, 2018, and a compliance date of August 19, 2018. Hang on…not so fast.

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