It’s more important than ever that lenders attract borrowers, speed decisioning, and improve their response time to their customers. So, what’s stopping them?
Loan origination technology providers have stepped up and are now offering new solutions with services and features that simplify the buyer connection and automate the decisioning, restructuring, funding and servicing of loans or leases exponentially more quickly than ever before.
The best solutions are end-to-end and offer a suite of services that include web portals that let the customer shop for a vehicle, apply for the loan, pay for it, and repeat. Through the portals and their end-to-end provider, lenders are:
- Acquiring new customers,
- Processing loan or lease applications,
- Automating their approvals,
- Servicing the lease or loan,
- Gathering insight from both their originations and servicing systems,
- And outsourcing certain business processes such as loan and lease care, lease maturing management, back-up servicing, call centers, collections and remarketing.
The best solutions let lenders determine their goals and what’s right for their business.
So, what IS stopping them? What is stopping YOU?
Read Charles Sutherland’s article “Auto Decisioning – The Right Habit at the The Right Time” now up on NonPrime Times.
