How Used - SaaS-based Lending Services
SaaS-based Loan Servicing
Businesses and consumers are looking to software-as-a-service (SaaS) for a hassle free, streamlined loan experience. Banks and other financial institutions that use SaaS are companies that use advanced technology to help give great service and process loans quickly.
Lenders need a system that is able to implement all types of loan processing while adhering to the complex requirements of the nations leading lenders. For companies that want to advance their current system to an automated loan origination process for easier loan and credit evaluations for their customers, they turn to SaaS companies who can deliver business software and customer service via the Internet to assist their businesses in realtime.
These innovative lenders and loan origination companies, turn to BillWise for their back office loan servicing needs. With BillWise's Connect:SM for Cloud Commerce, the loan origination process and loan servicing process are one seamless online process that improves customer satisfaction while reducing servicing costs and error prone manual processes.
Reduce Costs And Improve Customer Experience
By partnering with BillWise and integrating your online loan origination application, you achieve not only automation of all processes of credit decisioning and loan origination and only rely on manual steps when absolutely necessary or when required by regulation, but you also automate your recurring billing and payment back office processes. This ensures the speediest loan processing system possible. The goal is to provide your customers with flexibility and speed-to-market results for consumer or small business lending and loan origination. With the Internet age making everything more and more accessible and at a faster rate than ever before, loans that use to take weeks can now take less than a day.
Connect:SM for Cloud Commerce Benefits for Lenders and Loan Originators
- Web services API that makes integration with your front office loan origination application easy and seamless.
- Flexible and powerful product catalog and pricing capabilities that enable you to use a single platform across different types of loans.
- Automated workflows with configurable alerts and triggers enable you to define one-time and recurring payment processing rules and workflows globally, by customer type, or individual customer.
- Provide your customers online payment options to improve timely payments.
- Enable your customers to see all their one-time and recurring payment and loan details and self serve their account online.
Customer Snapshot
National Speciality Lender needed a solution to support the multi-market rollout of a new fully automated online lending service.
BillWise's Billing and Recurring Payment Solution integrated with their online loan origination system provides them with an start-to-finish automated system for originating, executing, and servicing loans eliminating the costly time-consuming manual processes common in the lending industry. Loans that used to take weeks, now can be done in less than a day with better quality assurance and lower cost.
SaaS Loan Servicing
Challenges:
» Handle complexities as business evolves
» Support creative new pricing plans
» Handle Payment Processing & Compliance
» Minimize customer service costs
» Improve the customer experience
Solution:
» The Connect:SM for Cloud Commerce
» Add capabilities as business evolves
» Robust Web Services APIs
» SAS 70 & PCI compiiant
» Support for the Entire Customer Life-cycle
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