The lending-management system can be up and running within 24 hours for processing loan applications online
TurnKey Lender, a provider of unified lending management software for evaluating borrowers, decision-making support, and digital lending process automation joins the effort to mitigate the economic crisis. The company launched a special Paycheck Protection Program edition of its intelligent end-to-end solution to automate all steps of loan origination and management for lenders operating under the SBA Paycheck Protection Program.
The lending-management system can be up and running within 24 hours for processing loan applications online. It comes preconfigured to meet the needs of lenders who qualify to issue loans under this program. As well as meeting SBA requirements it helps pre-qualify applicants within 2 minutes using the AI-driven credit decisioning engine.
TurnKey Lender created an intelligent Unified Lending Management solution to automate the entire loan life cycle. This includes application processing, risk assessment, decisioning, loan origination, underwriting, servicing, collection, reporting, archiving, compliance, and more.
The software comes with decision rules tailored to the conditions of the Paycheck Protection Program to put loan management operations on autopilot.
TurnKey Lender’s SBA Paycheck Protection Program software allows for:
- Immediate launch of the online PPP application form on the lender’s website.
- SBA compliant Application form with all required fields marked as mandatory with supporting documents upload capability.
- Instant pre-qualification of the applicant based on the information they provided and SBA requirements.
- Intuitive and user-friendly interface for Underwriters, where they can review the application details and supporting documents.
- Automated generation of documents and borrower notifications.
- Facilitating electronic signatures through DocuSign and other e-signature services.
- Borrower’s portal for application status tracking.
- Automated loan origination.
- Built-in regulatory updates. The lending program always complies with new rules as they’re published.
- Easy deployment from a secure, cloud-based platform.
TurnKey Lender is prepared to offer creditors intelligent bank-grade automation at a fraction of the price of anything on the market. The solution is easy-to-use and deploys within one business day. The software meets security requirements for Identification and Authentication, Authorization, Integrity, Non-Repudiation, Confidentiality, and Privacy.
Source: Company Press Release