I work for a retail company and we extend financing credit lines directly to our customers. We are looking for both a LOS (loan origination system) and a LMS (loan management system). Does anyone have insights into solutions that are good for LOS, LMS or both? We are currently exploring Turn-Key Lender and LoanPro and would be appreciative to learn more about these solutions or other LOS/LMS solutions you may be using.
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We're currently replacing our LOS systems both for RETAIL and COMMERCIAL loans. The selected or recommanded solution might differ based on:
- Is it for Individuals or businesses?
- Is it for credit lines only?
- How many credit lines or customers will you manage?
- In your domain (let say you are a department store), there might be solutions tailored for?
Because, there are both generic and specialized vendors out there. Like BlackKnight for mortgages, DefiSolutions (https://defisolutions.com/) for cars, etc.
Turn-Key Lender is very versatile from the comments I've heard about it. LendingPad sounds interesting as well.
Few Names: Cloudbankin, FinnOne
Yes, M currently on going to be implementing new Origination system for Syariah Banking the call name is Financing Origination System with using new technology for Business Process Management