Loan origination includes the beginning of the loan lifecycle, from the application process, through underwriting and approval, onto closing and finally funding of the loan. After that, once the loan enters repayment it moves into loan management.
The biggest feature of PayPlan’s Loan Origination is that it is a complete, end-to-end, white-label solution for lenders of all varieties. Built within PayPlan are the various components needed to run a successful lending business. PayPlan manages the loan application process, features a built in communication module to drive more application completions, and the entire thing is configurable to meet your precise needs.
PayPlan as a platform is built using the industry’s most secure providers for every component. Every piece of your information and your borrowers’ is private, safe, and secure.
Yes, absolutely! While PayPlan is an End-to-End solution, every component module within PayPlan (Decision Engine, Loan Origination, Loan Management, etc.) is designed for maximum configurability and use in existing workflows. Whether PayPlan is your complete solution or enhancing your already existing pipeline, PayPlan delivers results.
Complete or incomplete, track applications through the whole life cycle using stage and status tracking to know exactly where someone is within the complete process, and how to get them through it. Reengage your borrowers. Essentially, this functions like a CRM for lenders.
Yes, the PayPlan Loan Origination System helps reduce fraud through two key methods. The first is by offering best-in-class KYC, KYB, and fraud prevention tools. The second is achieved by allowing lenders unparalleled control over their workflow, letting lenders refine their own processes to reduce fraud based on experience.
PayPlan comes with a robust suite of marketing tools designed to drive conversions, avoid 1st payment defaults, and find the most profitable borrowers. That’s not all, PayPlan offers an entire Lender Marketing Services package.
PayPlan is built to work for any and all loan types and lenders, including but not limited to: Term Loans, B2C Lending, B2B Lending, Cash Advance, Tribal Lending, Line of Credit, Student Loans,Payday Lending, Letter of Credit.