Loan origination software (LOS) is a system designed to help banks and other financial institutions manage and process loan applications. It is a tool that makes it possible for lenders to automate the lending processes.
The process of giving a loan involves a series of steps. From borrowers application, to processing their information, vetting of credit standing, documentation, to approval and disbursement of funds. Loan origination software makes all of these easier.
Validis loan origination system helps lenders to configure all sets of loan rules from first the application to the final funding. It can streamline all the lending processes and improves customer relationships. Validis LOS improves efficiency and provides a comprehensive solution to loan origination requirements. The software offers financial institutions a complete front and back processing functionality.
It equips your business with all the tools necessary to enhance good customer satisfaction. Validis loan origination software provides new competitive loan products, minimize processing time and quicker disbursal. In addition, it optimizes the bank’s profit margin with improved efficiency. Give better credit analysis and minimize defects on loans or credit risk.
Essential features of Validis Loan origination software (LOS)
Easy configuration – One of the things that make this software unique is the ease of configuration. You can conveniently set up the loan origination software to meet your specific credit rules and guidelines. It allows you to build your verifications training manual into the system. And you can as well design decision parameters based on your credit policies and programs.
Flexible data entry option – This feature makes entering application information into the computer system very easy. With the Validis loan origination software solution, you can effortlessly receive applications from a variety of different sources, these include your website, and other third party systems.
Enhanced decisioning process – The software enhances decisioning process by automating the different rules and guidelines that applicants must meet to qualify for a loan. This enables users to only focus on other important things they need to do. Depending on what you want, you can automate as much or as little of the decisioning process.
User friendly interface – Users of the Validis loan origination software will find the interface very friendly. The screens are quick and easy to navigate. This helps users to make faster and more accurate decisions. And you don’t have to be a techy person to operate this tool.
Third-Party Integration – Validis loan origination software allows integration with third-party sources. The software is pre-integrated with a number of third party data sources. What this means is that users can easily identify what they need from the data sources. Most of the pre-integrated third party sources can be used in the decisioning process.
Benefits of using loan origination software
* It Improves customer experience and reduce decision processing turn-time
* Leads to increase in revenues through business decision optimization and better customer engagement
* Reduced risk and enhanced good decisioning
* Enhanced productivity of staffs with automated workflows and collaboration
* Increased staff efficiency
* It improves both internal and external communication