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7 Ways Loan Origination Software Can Overhaul Your Ways of Doing Business

2024-02-07 08:02:50

7 Ways Loan Origination Software Can Overhaul Your Ways...

In an era characterized by rapid digital transformation, the financial industry is no exception to the demand for efficient, paperless solutions. Traditional loan origination processes often involve cumbersome paperwork, manual data entry, and time-consuming tasks. However, Credility's goOriginate is changing the game by offering a mobile app-based Loan Origination Software that streamlines the entire process. Let's discuss the benefits of goOriginate, shedding light on how it can revolutionize your ways of doing business. 

Revolutionize Your Business with goOriginate Loan Origination System 

A Paperless Journey from Lead to Login 

goOriginate is a mobile app designed to facilitate the seamless and paperless onboarding of prospective borrowers. It covers every stage of the loan origination process, from lead generation to customer login. This holistic approach eliminates the need for manual paperwork, reducing errors and inefficiencies. 

Instant eKYC Verifications 

One of the standout features of goOriginate is its ability to conduct instant eKYC verifications. It integrates with various identity documents, including PAN card, Aadhaar Card, Driving Licence, Voter ID, Passport, and more. This ensures that you can verify your prospective borrowers' identities accurately and swiftly, enhancing the efficiency of your onboarding process. 

Integrated Credit Bureau Checks 

To make informed lending decisions, it's crucial to have access to the right data. goOriginate integrates with multiple credit bureaus, allowing you to make informed Go-No-Go decisions based on the creditworthiness of your applicants. This integration ensures that you have the latest and most relevant credit data at your fingertips. 

Maximum Data Population for Accuracy 

Accuracy is paramount in the world of loan origination. goOriginate maximizes the data population to ensure that your loan application forms are filled with precise and up-to-date information in accordance with your policy. This not only speeds up the process but also minimizes the risk of errors. 

Comprehensive Credit Evaluation 

goOriginate goes beyond basic data collection. It assists in credit evaluation through personal discussions based on the borrower's profile. The system allows you to configure profile-based questions and even record time-based videos to gain a deeper understanding of your applicants. This comprehensive approach generates real-time digital PD (Profile Document) reports, aiding your credit evaluation process. 

Configurable Eligibility Rules 

Every lending institution has unique eligibility criteria. goOriginate's flexible eligibility rule takes income, obligations, and property valuations into account, allowing you to customize your lending criteria to align with your institution's specific requirements. 

Seamless Integration with Third-Party APIs 

goOriginate is not an isolated system; it's designed to integrate seamlessly with various third-party APIs, making the onboarding process faster and more efficient. Integration includes eKYC verification APIs (PAN, Aadhar, Voter ID, Driving License, CKYC, Credit bureau checks, Payment gateways, and more). 

Benefits of goOriginate Loan Origination Software 

Some incredible benefits of goOriginate loan origination system are: 

Enhanced Productivity and Efficiency: goOriginate is built to boost team productivity by automating manual tasks and streamlining the entire loan origination process. This results in faster turnaround times and greater efficiency. 

Robust Security: Security is a top priority, and goOriginate undergoes rigorous Vulnerability Assessment and Penetration Testing (VAPT) to ensure that your data remains safe and secure. 

Seamless Integration: Regardless of your existing tech stack, goOriginate can be integrated seamlessly, providing a better user experience and allowing for a cohesive lending process. 

Enterprise-Level Solution: Credility offers enterprise-level solutions that cater to the unique needs of financial organizations. With multiple user roles and admin controls, goOriginate adapts to your organization's structure effortlessly. 

Improved Customer Experience: By providing all the necessary information at your fingertips, goOriginate improves the efficiency of digital loan applications, enhancing the overall customer experience. 

Cutting-Edge Technology: Credility employs cutting-edge technology in the development of goOriginate. With user-friendly UI and smooth integration with third-party APIs, it's a solution designed for the modern lender. 

Customization: Recognizing that every business is unique, goOriginate's team is flexible and can customize the product to meet up to 20-30% of your business requirements. 

 In a world of financial complexity, goOriginate loan origination software simplifies. It's your passport to a paperless, precise, and efficient lending journey. Welcome to the future of lending; explore goOriginate loan origination system and overhaul your ways of doing business! 

 

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