About Lendsys Software
As a lender or credit granting institution, you may have read or tried other so-called customizable platforms, only to be disappointed. Lendsys is different. Developed by lenders with expertise in the financial lending sector, Lendsys is designed to make your organization thrive.
Software Built from the Ground Up
Unlike programs that have been adapted from legacy software, Lendsys was created from the ground up. It was designed first and foremost for the lending industry by experienced lenders and retailers with experience in the industry. This means no extraneous bloatware, no vaporware, and fewer functions that needlessly complicate the user interface. At the same time, Lendsys is robust and scalable, and easily integrated with popular programs, such as DealerTrack and RouteOne, with an open interface for other API’s.
Empowering Lending Decisions
Being able to make fast, consistent, and quality credit decisions represent three of the most a critical aspects of successful lending operations. Prioritizing which loans to look at first is a daunting challenge for busy operations. The platform automatically decisions your slam dunks, so no loan you ever truly want is ever put into a pending queue waiting for a manual approval. With every manual review, you risk losing a loan you really want because you weren’t able to get a decision back fast enough. Auto-approvals are made with the exact same criteria and pricing that your underwriters would have made, saving your best underwriters time to manually review and decision those loans that don’t auto approve.
The automation and credit criteria data parsing and displays built into the Lendsys platform, even if you don’t automate a high percentage of decisions, result in immediate gains in operational efficiency, increased loan capture, and overall growth without ever sacrificing loan quality.
To put things in plain English: The platform allows you to make customized credit and pricing decisions, faster, more efficiently, and consistently than your best loan officers. Which minimizes the risk of missing out on creditworthy customers, while not wasting time on loans you know you don’t want.
You still need your loan officers, don’t get us wrong, it’s just that the system allows them to focus on exactly the loans you want, versus spending time manually underwriting and justifying denials. Easily customizable tools for underwriters allow them to individually sort and see the most attractive pending loans so that they are able to review and underwrite the ones most likely to qualify for manual approval.
Overall regardless of your mix of auto-approved to manual approvals, utilization of the Lendsys system results in fast, consistent, quality credit decisions.
Automation and Algorithms
Lendsys is a web-based platform available to our clients 24/7/365. The software utilizes comprehensive mathematical algorithms – yet is easy to use, even for the least experienced technology users. Our highly automated technology provides lenders with the ability to analyze lending decisions on a granular level, with the capacity to consider an unlimited number of custom “What If” and looping or iterative decisions and pricing scenarios for each loan application. Lendsys also allows lenders to track and manage their system data – and synthesize the data with easy-to-interpret custom reports.
Customizable and Scalable
Lendsys is both customizable to your individual business needs and scalable to accommodate growth – future proofing your operation’s lending functions. Lendsys serves the needs of wherever your business is now, as well as your future goals.
Single or Aggregated Lenders
The Lendsys platform is highly adaptable to work as a stand-alone operation, and/or for aggregated operations that work with several, dozens or even hundreds of lenders. The system is already completely integrated with popular programs like DealerTrack and RouteOne, as well as with Credco Core-Logic. And the software is equally suitable and effective for lenders and aggregators of any size.
Minimizing Risk, Maximizing Profit
In a competitive retail or service environment, lenders and retailers face a tough dilemma. Due diligence requires thorough evaluation of prospective borrowers to reduce the risk of making bad loans. Yet lenders risk losing valuable revenue if they make creditworthy customers wait too long. With Lendsys software, lenders minimize their risk of losing valuable sales to competitors because they can provide loan decisions on even the toughest credit and structures, faster than with any other system. Retailers are happy because they get to close their sale, and the customer/consumer is not inconvenienced by waiting around for hours. It’s a true win-win for everyone involved in the transaction.