Manage Loan Servicing Digitally on the Cloud

  • Loan Servicing Solution (LSS) by CompassWay enables lenders to handle loan servicing digitally while providing scalability, security, speed, and improved client experience.
  • Its API-based design allows loans from any Loan Origination System (LOS) to be onboarded and serves as a record system for multiple asset classes.
  • All loans can be recorded and tracked, repayment schedules can be managed and scheduled, ad-hoc payments can be tracked, repayments can be allocated, and delinquencies and closures can be monitored.
  • For effective operation and utmost efficiency, loan life cycle events are supported by daily calculation of interest, fees, fee handling, notification creation, and automatic collection at the due date.

Meeting Your Business Needs

  • The CompassWay Loan Servicing Solution (LSS) is based on a microservices architecture and cloud technology. The SaaS architecture reduces the up-front startup costs, and the AI-enabled platform identifies priority customers to help you save money and time on every loan servicing transaction.
  • Make customer experience better by introducing a user-friendly interface.
  • Increase the average lifetime value by providing an effortless lending experience.

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

Self Service Repayment

Borrowers can efficiently perform a wide range of account-related activities on their own, including making and scheduling payments, setting up autopay, customizing their payment plan, accessing statements, updating account information, and more. It also makes it easier for frequent, timely messages

Loan Maintenance and Settlement

The product catalog allows you to identify products. The product specification describes which parameters of a specific transaction type are fixed and which values can be modified within a particular range. You can freely create customized product structures; getting a new product or idea to market has always been challenging.

Product Catalog

The product catalog allows you to identify products. The product specification describes which parameters of a specific transaction type are fixed and which values can be modified within a particular range. You can freely create customized product structures; getting a new product or idea to market has always been challenging.

Borrower Management and Communications

To increase communication speed and dependability and free up service agents to work on more crucial tasks, automate omnichannel communication using personalized email, SMS text, direct mail, and phone calls. 

Loan Amortization Calculation

Rich back-office functionality helps you set up, calculate, and keep track of payment schedules. Our platform also helps with multiple interest calculation methods, including Fixed Flat, Decline Balancing, and Decline Balancing ( Equal Instalments ).

Lending is Now Simpler

Consolidate your present processes into a single, effective loan management system. Strengthen operational effectiveness, position yourself for growth, and develop as many different loan types as serve the needs of borrowers. 

High Return to Investment

The advantages of Customer onboarding
The advantages of Customer onboarding
  • More loans can be serviced more quickly. CompassWay is an operational efficiency powerhouse dedicated to improving the performance of your portfolio. Ease of use, automated processes, and personalized process guides empower your service staff, resulting in fewer costly errors and more time on the clock.
  • The system can be easily integrated with various tools and core lending systems.

Smart Portfolio Management

  • Optimize Back Office Procedures
  • Increase Deal Volume Capacity
  • Minimize Manual Function Time
  • Impact Reporting and Dashboards
  • Enhance Visibility and Customer Experience

WHA CUSTOMERS SAY

FAQ

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.

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.

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.

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.

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