Why Use Installment Loan Software?
If you're in the business of lending money to others, you need a way to know whether a prospective customer is right for a loan, as well as how to secure the best loan and identify the ideal repayment schedule for each request. Sure, you could handle this manually, but be ready to hire a department full of liaison officers that can manually check each recipient for qualifying loans, in addition to whether they're actually capable of meeting the loan's repayment schedule.
Better yet, if you have a bloated department full of people dedicating their days to this type of busywork, it's true that you can reduce overhead and streamline your processes with installment loan software that takes care of all of the hard work. Instead of spending hours or days identifying the right loan and vetting your customers for their repayment ability, you can leverage the power and flexibility of software to take your lending business to the next level.
Increase Your Capability With Installment Loan Software
At first glance, an installment loan seems like a simple product offering -- why would anyone need help with that? But installment loans come in many different shapes and sizes, from auto loans and mortgages to personal loans for just about anything. In addition to the terms of the loan, which can range from one year to 30 years for something like a mortgage, you also have to vet the customer and the terms of each loan.
Depending on information such as income, current debt level, the amount of credit they have and their credit score, someone, somewhere will make a determination whether to grant the loan, as well as how much to lend and the schedule that governs how it's paid back. The problem is that unless you only expect to serve a small number of customers, you need scalability, or the power of installment loan software.
Features of Our Installment Loan Software
With Infinity's comprehensive and holistic lending software platform, you can seamlessly take on more business and engage in more positive lending actions while the software picks up most of the slack. Whether you need help finding more qualified borrowers through online applications or you'd like to leverage the platform for automated credit decisions to alleviate burden on your in-house staff, our platform helps you do it all in less time and with less resources than you ever thought possible.
From managing your entire portfolio of loans to keeping all of your loan information accessible with just a click, installment loan software helps you manage all the information that makes your business tick, and it's never been easier to scale up or down depending on the day, week or month's demand. You'll also be improving the customer experience with convenient online payments and an easy-to-use login that puts all the busywork in the cloud, allowing you to free up your resources for other purposes.
Stop Doing Loans the Old Way
With the Infinity installment loan software platform, you'll get a tool that helps you do more with less. Whether you need help with compliance or you need a mobile-friendly platform to earn the business of those that spend their time on their phones, Infinity has you covered. With the Infinity platform, you can close anywhere with e-sign, get automated credit approval and allow customers to make payments without bothering one of your representatives.
So what are you waiting for? Stop doing loans the old-fashioned way and join the many businesses that have revolutionized their lending with the Infinity installment loan software platform. Packed with all the tools you need, you can get more done from a single location than you ever thought possible. Call or click to get started today.