Accelerating Lending Decision with Digital Financing Solution
Accelerating Lending Decision with
Digital Financing Solution
Driven by the emergence of technology-enabled competitors, assessing the financial soundness of the business is challenging, especially for commercial lending. Assuming lenders continue to operate with systems that rely on manual processes, operations and quality will suffer. Subsequently, lenders should focus on increasing the efficiency of loan processing and enhancing the customer experience by adopting an automated loan platform: Acumatica with Financing Dimensions (FIND), an integrated loan management feature, is suited for timely approval and the scale of any unpredicted losses of the loan application process.
Acumatica with FIND, an industry-specific solution developed inside a future-proof cloud platform with front-office functionalities, ensures that loan applications are approved faster and subject to robust governance and control. Collecting customer information and documentary requirements for approval is tedious, as duplication usually occurs and prompts unnecessary inefficiency and errors. With integrated CRM data, lenders have the overview to nurture all potential leads and create financing program proposals and contracts with ease encouraging greater conversions and satisfaction.
With the data and information already stored in its platform, FIND allows lenders to select the amortization type, terms, and interest repayment type, for a specific asset suited to their customer’s preferences. This gives them a faster processing time for approving or declining the loan application. Moreover, extending its flexible platform to web-enabled devices equipping executives with laptops, smartphones, and tablet devices to make financial decisions while on the move reduces the approval time and provides greater visibility to its financial operations.
Through its loan management feature, the customer screening to loan approval process accelerates with its automated loan structuring tool giving accurate results and faster disbursal of loan products, protecting lenders against unwanted borrowers and providing a better customer experience. Other modules included are inventory-sales loan financing, collateral-based loan financing, and loans payable management, ensuring a faster reaction to complex financial requirements.
With Financing Dimensions, a vertical solution fitting to financing operations, flexible for meeting loan financing demands in a rapidly changing environment.