Small Consumer Lenders
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
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.
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
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