Finory.tech’s Post

In today's ever-evolving financial landscape, choosing the appropriate Loan Origination System (LOS) is crucial for lenders. An effective LOS should encompass features such as comprehensive analytics, flexible underwriting, and robust compliance and security systems. Learn more about the key features of a LOS that lenders should consider before making a selection in our latest blog: https://lnkd.in/gzjExhAZ #fintech #loanoriginationsystem #digitallending #lendingautomation #lending

Building a robust LOS requires a strong product mindset. By adopting a product-centric approach, we can create highly configurable solutions that minimize code-level changes, ensuring rapid adaptability to evolving needs. 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐞𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥 𝐟𝐞𝐚𝐭𝐮𝐫𝐞𝐬 𝐭𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫: 𝐏𝐨𝐰𝐞𝐫𝐟𝐮𝐥 𝐖𝐨𝐫𝐤𝐟𝐥𝐨𝐰 𝐄𝐧𝐠𝐢𝐧𝐞: A robust BPMN 2.0-compliant workflow engine, enhanced by DMN for intelligent decision-making and CMMN for flexible case management, is crucial for defining and configuring complex loan processes. This allows for the creation of efficient, scalable, and adaptable workflows that can handle a wide range of loan products and customer scenarios. Tools like Camunda, Bonitasoft, and Alfresco can be valuable in implementing such a powerful workflow engine. 𝐅𝐫𝐨𝐧𝐭 𝐞𝐧𝐝 𝐜𝐨𝐧𝐟𝐢𝐠𝐮𝐫𝐚𝐭𝐢𝐨𝐧𝐬: LOS product should be built in such a way that that product parameters and business rules should be configurable by customer/business through front end configurations. A strong configurable business rule engine is need of the day. 

If you’re a seasoned player in the lending industry, you’re well aware that payment processing can be one of the most complex and costly elements of running a successful lending operation.

Want to slash operational costs in your loan processing?  . . . . Discover the 5 ways a Loan Origination System (LOS) can revolutionize your financial operations! 💡🚀 #LoanOriginationSystem #LOS #FinancialEfficiency #CostReduction #Fintech #Automation #CustomerExperience #Compliance #Scalability

From faster approvals to enhanced risk assessment, a powerful Loan Origination System is the cornerstone of modern lending. Dive into our latest blog to explore the must-have LOS features that can help lenders thrive in a digital-first world. https://lnkd.in/gtuBKEEa #M2P #LoanOriginationSystem #Lending #Fintech

Futureproof Commercial Lending: What is the 'Must-Have' Closing Technology You Didn't Know You've Been Missing? As an #FI, you're looking for ways to futureproof your #CommercialLending to streamline your operations and achieve greater borrower satisfaction. Our latest article will show you a must-have technology you may not even know you are missing. Discover how complex loan automation can transform your process for loans over $2M. Handle intricate borrowing structures, including multiple borrowers, non-standard vesting scenarios, multiple guarantors, mixed collateral security, multiple collateral jurisdictions, and more. Generate loan documents in minutes, reducing time-to-close and boosting borrower satisfaction. Start futureproofing your lending operations today. Make the process better and more adaptable to your borrower’s needs. Reach out now to see how it works! 👉Read more: https://lnkd.in/eqbzzMyH #FI #banks #creditunions #mid-market #large-cap #futureproof #loandocuments #streamlineoperations

Interested in optimizing loan origination? Check out this insightful article from Fundingo on key strategies and tools that can streamline your process and boost client satisfaction. A must-read for anyone in lending solutions! #LoanOrigination #LendingSolutions #Fintech #ClientSatisfaction https://lnkd.in/g2dX2JY9

The shift away from manual verifications in recent years is reshaping the loan process, especially as lenders look for more innovative solutions. In a recent article, John Hardesty, General Manager at Argyle, emphasizes the increasing necessity of a multi-vendor approach to VOIE—aka a “verification waterfall.” By tapping into the unique strengths of diverse providers, lenders can drastically minimize manual verifications, speed up processing times, and slash origination costs. Dive into this article to learn all about verification waterfalls and what lenders should consider when building their own: https://lnkd.in/eqWvkteB #MortgageLending #Lending #FinTech

Tired of the monthly headache of managing loan payments? Say hello to Baseline! 📊 No more manual uploads of NACHA files or chasing physical checks from borrowers. With Baseline, streamline your payment collections effortlessly. ✅ Process payments in bulk directly through your servicing system. ✅ Automated reconciliation for accuracy and efficiency. ✅ Real-time alerts for cleared or bounced payments, keeping you updated and enabling swift action. Experience the convenience of modern payment processing with Baseline. Learn more 👇!

Applying the right #fintech and addressing staff challenges are both big parts of keeping your financial institution running smoothly. https://buff.ly/3WTcJZ5 #creditunions #communitybanks #branchandATMlocators