LENDSYS IS AN AUTOMATED LOAN DECISIONING
Powerful, Customizable Controls
With Efficient Ease
Speed, Efficiency, Consistency, Scalability
At the lowest Cost in the Marketplace
Lendsys is an automated loan decisioning software platform
The automation built-in to the Lendsys platform was designed to free savvy lenders in any market segment (banks, credit unions, and finance companies) from the minutiae associated with manually underwriting quality loans. This allows lenders to focus on building stronger consumer relationships and improving the efficiency of operations, ultimately, positively affecting their bottom lines.
Faster overall decisioning increases funding ratios by decreasing the number of “Pending” loans that require manual underwriting decisions. Simply put, the system helps you avoid spending the majority of your underwriting time on loans that are never going to get approved.
This immeasurably speeds up every manual loan decision, while also increasing overall consistency and minimizing exceptions – helping you streamline your loan decision process.
- Incorporates individual, unique, and specific underwriting guidelines into each decision
- Accommodates risk pricing
- You have complete and instant control over automated and manual decisions
- Powerful, yet easy to use
“We were skeptical at first whether we really could automate a high percentage of decisions. The system really does work! Once we actually got a good handle on how and why we decisioned loans, it was easy to build the iterations, and pricing criteria into every decision. We’re consistently at an above 60% auto approvals, and our manual decisions are fast and easy, with less than 30 seconds on either an approval or decline. The system is amazing!” – $200MM Asset Credit Union Lender in Michigan
Accuracy & Consistency
- Target only those loans/products you want
- Reduce loan decision time. Increase decisioning consistency
- Minimize decision exceptions to help minimize regulatory and audit issues
- Improve overall loan service/delivery while improving major operational efficiencies
“Our underwriters create their own individual customized dashboards in the system allowing them to “laser” in on exactly the loans they should be spending time on. This “laser” like approach allows us to focus our time on those loans that most closely meet our ideal criteria. Focusing on the right loans while not wasting time on the wrong loans results in high overall loan quality through consistency in decisioning and pricing.” – $120MM Michigan Credit Union
Point of Sale
“For our Indirect we still choose to do a lot of manual approvals (it’s just the way we like it). The automated process allows us not to worry about the slam dunks, since they are already approved. Our approval ratios are not up significantly (we’re still not approving anything that doesn’t make sense for us) but our loan capture ratios (Look-to-Book) is up! The efficiency of the automated system allows us to be the first approval. And we’re consistently one of, if not one of the first approvals on manual decisions also. We’ve learned that indirect, faster approvals result in higher loan capture for us.” – $50MM Credit Union in Texas on the program for over 5 years
I want to learn more about how Lendsys works with…
As a lender or credit granting institution, you may have tried other so-called customizable platforms, only to be disappointed. Lendsys is different. Developed by lenders, Lendsys is designed to make your organization thrive.
Lendsys software reflects the philosophy of Lendsys, LLC, the company behind the software. Lendsys, LLC is dedicated to building and maintaining an exemplary, automated lending platform that works like nothing else in the market. The platform works equally well as an individual lender, or as an aggregated platform allowing multiple lenders and dealers to link together on an automated, state of the art, loan origination and decisioning platform that is granularly customizable, and scalable.
We receive many questions from prospective clients about our software, our business model and how Lendsys can help their businesses thrive. While each operation is unique, there are several questions that come up over and over again. We’ve listed our most commonly received questions below.
$200MM MI Based Credit Union
We were skeptical at first whether we really could automate a high percentage of decisions. The system really does work as promised! Once we actually got a good handle on how and why we decisioned loans, it was easy to build the iterations, and pricing criteria into every decision. We’re consistently at and above 60% automated approvals, and our manual decisions are fast and easy, with less than 30 seconds on either an approval or decline. The system is amazing! We waste no time underwriting denials, and we capture a good percentage of our approvals.
$50MM Texas Based Credit Union
We’ve been on the program for 5 years. I was VP when we started, now I’m CEO, and I can tell you there’s no way we could run as solid a program on our own. We still choose to do a lot of manual approvals (it’s just the way we like it). And we do use the automated process for our slam dunks. Our approval ratios are not up significantly (we’re still not approving anything that doesn’t make sense for us) but our loan capture ratios (Look-to-Book) is up! The efficiency of the automated system allows us to be the first approval for our dealers and they love that. And we’re consistently one of, if not the first approval on manual decisions as well. We’ve learned that with indirect, faster approvals result in higher loan capture for us.
Small, Texas Based, New to Indirect Lending
We’re a smaller sized lender with several larger lenders in our marketplace. We’ve been able to compete and capture loans and new members that we could never have done on our own. The software and functionalities allow us to compete in our marketplace without compromising the quality of our loans. The automated decisioning really works. And, our dealers and retailers love it!
Western Michigan Based Community Credit Union
We had been in and out of Indirect for years. We looked at everyone’s system and were almost ready to throw in the towel when we were introduced to the Lendsys platform. We’ve been able to get back into and stay in the indirect game in our market, and that’s helped us continue to grow our loan portfolio as well as our member base. It’s a unique and great system from our perspective.
Detroit MI Based Credit Union
We are a $100MM plus Credit union in the largest market in our state and we have never had Indirect experience. The Lendsys system has been instrumental in both getting us in the game as well as in keeping us in the game. It has certainly worked as advertised. We get a lot of support, everything we need, and the system is stable and secure. We could not ask for more at this point.
Minnesota Bank - 5 Rural Area Branches
We don’t operate in the big markets and we have all 5 rural area branches located an hour or two apart. A platform like this has been a dream for us. It took us a long time to make the decision to automate, but we can’t imagine working without this system now.