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.
Lendsys Features
24/7 Efficiency
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.
Robust Decisioning
- 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
Automation
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
Integrations
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About Us
The Software
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.
Our Business
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.
FAQs
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.
Testimonials
Industry News
Strategic Lending Conference Recap
Time-Consuming Underwriting and Loan Operations? In a recent survey, respondents indicated overwhelmingly that they know that they should and could cut nearly 50% of the time and effort in their loan underwriting/origination processes.
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