Lendsys Software for Banks
People expect personalized service in all aspects of banking, including lending. In this respect, Lendsys software is an ideal tool to increase efficiency and automation in your lending processes. Our web-based software is available 24/7/365 for the maximum convenience of you and your retail (Merchants) and consumer customers. Built by lenders from the ground up, and operated daily with ongoing contact with our lenders, operating in multiple markets, allows us to assess and react to market and regulatory issues immediately, assuring you the utmost compliance and protection from regulatory reviews. Our lenders have undergone dozens of exams and reviews over the past few years, with no significant findings.
Leveling The Lending Playing Field
One-on-one service is one of the big advantages of community banks over the large regionals and national’s. With Lendsys, community banks of any size in any market can operate an automated LOS platform safely and economically. Whether operating at point-of-sale or internally for direct loans (or both), you will be generating customized automated and manual lending decisions that consistently adhere to your underwriting standards and exact Risk-pricing.
Lendsys minimizes the risk of losing a good loan – or approving one you don’t really want. With automated Customer Capture, you’ll never lose a loan you want from an existing customer, from point-of-sale, and you’ll never auto-approve an existing or past customer that, for example, has a current deficiency balance with you. The system allows you to immediately improve overall efficiency in loan decisioning and loan capture while providing the personalized level of service that matches your brand promises.
Point Of Sale & Integration
The Lendsys platform can be (and generally is) used as a complete point of sale platform for indirect loans as well as internally for you daily consumer direct loan decisions. For immediate entry into the point-of-sale (indirect world) our software is already fully integrated with popular loan application acquisition services, like DealerTrack and RouteOne, and we have negotiated significant discounts on our lenders’ behalf for these services.
Individual & Aggregated Platform Opportunities
Lendsys is an ideal platform whether used individually or in an aggregated format, allowing lenders to collaborate and use the power of aggregation to build scale locally, regionally or to build programs at a national level. The aggregated platform can be utilized by multiple and diverse community banks in a single market, and/or utilized to cover an entire state or larger region. Credit Unions currently utilize a version of the platform called CU Lending Edge to aggregate Multiple Credit Unions, which is a great example of how other lenders can utilize aggregation to scale, share costs, and achieve market dominance.
Aggregate Users & Call Centers
Lendsys can also be used by call centers and centralized loan operations to serve an individual or multiple community banks and their customers. The platform is infinitely scalable, easily utilized by an individual bank, or service providers that serve multiple financial institutions (I.e. Creating a bank subsidiary to service multiple banks is a model that is already working in parallel markets and would work very well for community banks as a new profit center). Aggregators can easily and cost-effectively integrate Lendsys software into a call center model or core system to instantly increase loan and other cross-sell productivity.
Adaptable To Your Needs
Lendsys prides itself on being flexible, scalable and most importantly, reasonable. Remember, we’ve been where you are now, so we work with our clients to offer a model that is flexible and collaborative. From listening to our current users and being open to enhancements as a system level, to private and white labeling, to actually selling the code for individual use, together, we can create a software solution to suit the exact needs of your community bank or subsidiary allowing you to serve your customers (whether that be other banks, retailers, consumers or any combination of these) your way.
Collaborative & Flexible
Go well beyond and core processor, or ancillary software providers. Through our open API processes, a lender, a group of lenders, and even service providers can develop anything from aggregated service centers to totally customized and integrated and automated systems that meet your exact needs. Get creative – you are not limited in any way!
Lendsys provides a flexible pricing plan, too. Pricing includes a small one-time fee (NO annual renewal fees), a modest monthly fee and a scalable per-use fee. We house and maintain the platform and all data, so you have no IT costs or use of resources, and we work with our clients individually to ensure that the package and pricing structure they choose provides the services they need at a price they can afford.
Customized Lending Decisions
Lendsys levels the playing field for allowing lenders of all sizes to consistently underwrite and process consumer loan applications efficiently and effectively. The Lendsys design allows lenders to automate 80 to 90 percent of the manual lending decision process at the same granular level as a human loan officer. Each client uses their own criteria to adhere to their own lending protocols – minimizing the risk of losing a loan they want – or approving a loan they don’t want. Customizing and maintaining the software for use as a complete point-of-sale platform and for direct lending credit-granting decisions is finally easy and cost-effective.