Small Consumer Lenders

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Transform Your Small Business Loan Origination for Faster and Profitable Deals

Compassway’s small business lending automation means one system can offer a smooth borrower experience for multiple loan products on the front end with an easy-to-use process on the back end.
CompassWay 's small business LOS is an out-of-the-box solution with built-in configurability .
Deploy small business lending automation software within weeks and improve profitability and scalability.
Full Sandbox Environment . Free Trial 15 days .Sign Up.

How CompassWay Can Help

Sales & Marketing Increased visibility and new channel for client acquisition Increase Cross Selling, Opportunities and reduce Income Leakages
Operations Reduce operation costs by eliminating duplicate data entry,
Loan Risk Management Streamline credit risk assessment and credit approval workflows to make faster, well-informed credit decisions in individual, commercial, and SME lending. Automated decision making powers instant approvals, so you can say yes to the right customers in real time.

Key Features Small Busness Lending Software

Integrated Due Diligence

KYC and AML procedures work together to ensure that financial institutions are able to identify and verify the identity of their customers ,assess the risk associated with those customers and prevent financial crime and comply with regulatory requirements.Seamless integration and analysis with 3 party systems for identity verification/ authentication, fraud check, and blacklist check

Omnichannel Submission

Flexibility to customers to apply online, in-branch, or through call centers, save/resume applications from any channel, and access self-service portals for document upload and status tracking .With an omni-channel onboarding and loan origination solution, you can reduce customer dropouts, speed up the customer welcome process, and validate digital identities.

Streamlined Processes

By providing a single platform for loan origination, underwriting, servicing, and reporting, reducing the time and effort required to manage loans., delivering a best-in-class experience for your clients and team – for any loan product.Streamline processing, automate decisioning and make it easier to share customer documentation. Deliver omnichannel capabilities and support real-time applications through our customer-facing portal.

Configurable Loan Application Flow

A convenient loan application editor allows you to create loan application workflows in a few clicks without the need for coding and special skills. Starting the lending process quickly and being able to make changes while the system is running is our priority.

Self Service Repayment

Borrowers can easily perform a wide range of account-related activity 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.

Grow Your Small Business Portfolio

By combining a user-friendly borrower experience with swift decisioning, your financial institution will be able to put pressure on the competition while also meeting the vital finance needs of these small enterprises in your region.

Dashboard, Email & SMS Notifications

Our loan software is pre-configured for quick integration with email and SMS services. You can set up notifications for both borrowers and employees to keep track of every step of the loan process.

Back Office Review Workspace

Lenders' dashboard workspace to view pending and assigned loan requests Ability to view abandoned applications and initiate reminders/assign to the contact center team

Document Management

All loan documentation and statements are automatically generated and readily managed. Specify detailed standards for borrower and loan document collecting, which will be replicated across the platform immediately.

Achieving Real Result for Every Role

CHIEF EXECUTIVE OFFICER

Responsible for overall business strategy, CEOs can leverage Compassway ’sl lending software to ensure cost efficiency while maintaining credit compliance, managing risk, and overseeing credit growth. All of this enables them to deliver a greater ROI to stakeholders, including customers, employees, and partners.

Increased profitability and revenue
Higher volume of loan originations
Higher volume of loan originations
Rapid deployment for a faster ROI

CHIEF LENDING OFFICER

Leveraging a strong commercial lending solution, CLOs may maintain a healthy portfolio mix, drive market penetration, and save costs with a focus on monitoring and expanding credit. They can now manage stakeholder relationships and guarantee a quicker ROI thanks to this.

Simplified communication using digital portals
Automated decisions for small value loans
Greater frequency of first time right processing

CHIEF OPERATING OFFICER

COO's are responsible for optimising operations, preserving efficiencies, and guaranteeing real-time visibility and transparency across all processes. Compassway's l loan origination software can help companies manage documentation, loan servicing, funding, and closing more efficiently, among other things.

Improved productivity and an optimized workforce
Centralized document access and processing
Reduced operational costs
Enhanced application tracking and monitoring

CHIEF RISK OFFICER

CROs, who are responsible for maintaining compliance and minimising risk, can protect their organisation by implementing robust loan origination software. The p;atform can assist CROs in managing credit risk, controlling risk distribution, ensuring effective risk rating, and much more.

Enhanced portfolio risk monitoring and mitigation
Dynamic credit risk modeling
More effective risk rating models and scorecards
Improved data governance and management

CHIEF INFORMATION OFFICER

CIOs have a significant role in charge of providing technical progress and modernization. They can create and install innovative or enhanced systems while assuring scalability and agility to support business objectives using lending origination software.

Highly Configurable Platform ,Saas deployment.
Stronger data analytics and a centralized repository for data and documents
Ease of integration with core and third-party systems
Lower maintenance costs

WHAT
CUSTOMERS SAY

We used to have an older system that required more than a day to update or deploy a new risk model. In addition, credit decisions were slow. We estimated we were losing 15% of customers due to abandoned applications. For millennials, who are now a majority of our clients, responsiveness and convenience are key for lending services. We implemented an end-to-end digital lending platform offered by CompassWay and it allowed to significantly improve customer retention. Up-to-date risk models also mean lower defaults rate and improved profitability. The system is easy to work with in case we need to add new clients or product types. We also received excellent customer support from CompassWay team. Overall very satisfied with the upgrade decision.

Denis BobrovCFO of CreditUP

Our key clients are SME firms that sell their products using social media platform such as Instagram and Facebook. They have magnitude of various products and various preferences in the lending options they would like to provide to their customers. Thus, we needed a powerful, yet flexible and simple system, which would allow quick onboarding of new clients and their products. CompassWay offered a solution that not only satisfied these criteria but also was intuitive and easy for the customers of our clients. That allowed to create a seamless shopping experience, as well as improve customers’ satisfaction and rate of completed sales. For our team, working with CompassWay was very easy. Since the system was highly customizable out of the box, we were up and running in just several weeks. We also benefitted from their business expertise and improved a weak link in our processes we did not know was a problem. Highly recommended company to work with.

Irina SenenkoHead of Customer Service at PIE CREDIT

Nowadays, the competition in online trading is stronger than ever. In order to outperform the rest and come out ahead, we needed to provide our customers with services that would keep them on the site. Many buyers came to our online store, but there was much less talk about sales. We reached out to the Compassway team for help because Compassway is in the business of developing and implementing advanced digital solutions, and they advised us to first consider implementing a product on credit or in installments. Indeed, most often the reason that buyers leave the site without making a purchase is banal: they do not have enough money. We listened to advice, and now every customer who enters our website and selects a product immediately sees the "buy on credit" button with a convenient loan calculator and BNPL option in the checkout. He understands that he can afford to buy now, and pay later and in installments. As a result, it was possible to increase profits and total sales by 30%, as the client now purchases a product of a higher price category, or increases the number of purchases.

Natalia BurkoHead of Business Development at Taksaexpress