Modern Loan Servicing for Maximum Operational Efficiency

Implement a robust loan servicing system that centralizes data, streamlines workflows, and ensures regulatory compliance. Automate routine tasks such as payment processing, document management, and reporting to improve operational efficiency and reduce errors.

Embrace this unified approach to overcome the traditional acceptance of complexity as an inevitable cost of operations.

Centralizing these critical functions into one comprehensive platform streamlines processes reduces operational costs, and enhances efficiency across the board. Make the strategic shift away from fragmented systems to foster a more cohesive and manageable lending environment.

Portfolio Insights

Gain a comprehensive overview of your entire portfolio and analyze performance based on various parameters. Maintain complete control over your portfolio without the need for constant user input. Establish a centralized, standardized, and validated data hub for all your deals, documents, and portfolio data. Leverage integrated default management to enhance efficiency and accuracy.

Cut Operational Costs by Automating Every Stage of the Loan Management Process

Automate Payment Processing

Streamline your payment processing and reconciliation process by employing automation to accept various payment methods, including credit cards, debit cards, and mobile wallets. Ensure the verification of payment details, update loan balances promptly, and generate receipts and statements efficiently. Utilize automation to reduce the risk of fraud, errors, and disputes by validating payment information, detecting anomalies, and resolving issues quickly.

Repayment Monitoring

Employ automation to enhance your repayment monitoring and risk management processes. Track borrowers’ repayment behavior, identify potential risks and implement preventive or corrective actions efficiently. Use automation to segment borrowers based on their risk profiles, payment histories, and preferences, applying tailored strategies and policies to each segment to optimize outcomes and mitigate risks effectively.

Loan Amortization Calculation

Implement rich back-office functionality to efficiently set up, calculate, and track payment schedules. Utilize our platform’s capabilities to handle multiple interest calculation methods, including Fixed Flat, Declining Balance, and Declining Balance with Equal Installments, to ensure accurate and adaptable financial operations.

Early Warnings Signals

Set up configurable alerts to flag any imminent breaches and stay on top of critical performance metrics. Utilize automated loan servicing platforms that leverage advanced analytics to assess borrower creditworthiness and identify potential risks. Continuously monitor borrower behavior and financial indicators to address concerns before they escalate proactively Create a custom watchlist for high-risk loans in your loan servicing software, incorporating both quantitative and qualitative inputs for comprehensive monitoring. Ensure continuous and effective oversight to mitigate risks efficiently.

Customer Service

Deploy automated communication tools to send reminders, account statements, and other relevant updates efficiently. Offer multi-channel borrower engagement to meet consumer demands for 24/7 access to loan information, ensuring continuous and responsive customer support.

Integrate AI technology into your customer service tools, notably through the use of chatbots, to significantly enhance borrower support

Customer Engagement with Self-Service Tools

Empower borrowers by providing self-service options through automation, allowing them to access loan information, make payments, and manage their accounts conveniently. Offer a user-friendly and intuitive interface that enables borrowers to have control over their financial obligations..Offer customized repayment plans and restructure loan terms to manage defaults effectively through the Borrow portal.

Natalia Burko

Head of Business Development at Taksaexpress

“In today's fiercely competitive e-commerce landscape, staying ahead of the curve is crucial.”

“Despite attracting numerous visitors to our e-commerce platform, converting traffic to sales proved challenging. We must resolve the problem of increasing the conversation rate and boosting sales. We partnered with Compassway to integrate loan business software to provide a 'buy now, pay later' (BNPL) in-house financing option. By empowering customers with flexible BNPLl loans, we not only improved the accessibility of higher-priced items but also significantly boosted our sales by 30%.”

Denis Bobrov

CFO of CreditUP.UA.

Our clients are primarily millennials who prioritize fast and easy lending services.

However, our manual risk management process was slowing down our credit decision-making. We shifted to CompassWay's lending solutions end-to-end loan management platform. This strategic move improved our customer acquisition cost and conversation rate from applicant to client. With the ability to quickly update risk models, we've seen a decline in default rates, thus enhancing our profitability. Looking back at the transition, it's clear that upgrading your systems was a wise decision.

Irina Senenko

Head of Customer Service at PIE CREDIT.

As a BNPL provider, we tapped into the burgeoning realm of SMEs on social media platforms like Instagram and Facebook, aiming to bolster their sales through a seamless, integrated shopping and payment experience.

the critical pain point of limited payment options contributing to high cart abandonment rates, we collaborated with CompassWay to devise a user-friendly BNPL solution tailored to our clientele. This initiative enabled merchants to effortlessly present flexible payment choices at checkout, empowering customers to purchase immediately and defer payments.
Working with CompassWay was a remarkably smooth process. The customizable nature of their solution allowed for rapid deployment, operational in mere weeks, greatly exceeding our efficiency expectations.

WHAT CUSTOMERS SAY

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Frequently Asked Questions

Can the System hadle loans with different terms, down pay

Definitely yes. The Compassway system allows you to create an unlimited number of products. You can flexibly customize all loan products as far as you can imagine. In addition to product settings, you also have the ability to manage the rules of a powerful AI decision engine and scorecards settings.

Can I integrate CompassWay with other solutions?

Absolutely yes. The possibilities for integration are unlimited. The solution includes API management functionality to easily integrate third-party products and services with your lending portal.

Can the system manage different IR calculation logic?

Yes, the system supports the following IR calculation logic depending on number of days in a month and in a year: 30/360, 30/365, fact/365.

How much does the CompassWay solution cost

CompassWay provides businesses with an array of licensing models that are tailored to different platform functionalities, allowing for scalability and cost efficiency. By selecting the system configuration that best suits your business needs, you can optimize your operations and only pay for what you use. Once you sign up, our system will automatically calculate the cost of your chosen system configuration and display it for your convenience. We are committed to providing our clients with flexible and customizable solutions that meet their unique requirements.