With App clone Script’s unique LoanPro alternative, you may get started in the lucrative lending sector. The greatest option, with the most up-to-date technology on the market, allows you to provide safe and secure loans.
Launch a Loan Servicing Software as an Alternative to LoanPro!
Over the last few years, the financial environment has changed dramatically. Lenders are searching for a more contemporary, simplified approach to loan administration as sectors throughout the world become increasingly computerized. The atomization of critical components of the lending process, as well as enabling procedures that are scalable, rapid, adaptable, and agile while being cost-effective, are urgently needed. Due to its scalable API-based approach and highly flexible software that can be coupled with numerous apps and a better credit rating process, App clone Script has emerged as the world’s top provider of Loan Management Technology.
From prospecting through closing and tracking, our LoanPro Software option may help you with all aspects of your loan portfolio. For banks and financial organizations, the integrated loan processing system allows for the automation of procedures, resulting in cost savings and improved customer service. We provide technology-enabled finance systems that increase efficiency and customer satisfaction throughout the loan’s life cycle.
In COVID-19, there is a growing demand for loan servicing software.
Personal loans have climbed in the previous four years, according to the US Federal Reserve, from USD 72 billion in 2015 to USD 143 billion in 2019. 19.1 million clients hold an unsecured personal loan, out of a total of 21.1 million extraordinary personal loans in the country. The loan procedure is tough and time-consuming due to its complexity. The Loan Servicing Software business is driven by the increased need from financial institutions for automated application procedures combined with effective scanning. Business expansion has been aided by increased digitization in the banking industry. The Loan Servicing Software business has become an opportunistic one with the emergence of Big Data Analytics and other developing technology.
Key Features of Our Alternative to LoanPro Software
Different Types of Loans
Loan programs such as term loans, non-revolving loans, liabilities, and pool loans can be quickly generated.
Applications of Interest
Basic interest, set amortization, variable amortization (starting), rule 78s, and average daily balance are among the options available.
Accumulate on the first, last, or both days. The beginning or the finish of the day. 360, 364, 365, 366, or the current year’s value.
Rates of Interest
Establish a standard rate (e.g. Libor, WSJ Prime). Compounding depends on the number of days and periods. Set the minimum interest rate, post-maturity interest rate, and default interest rate.
Choose from the following options: days, weekly, biweekly, sub-yearly, 28 days, monthly, bimonthly, quarterly, semi-annual, annual, maturity, or self-defining.
Late Fees Are Charged Automatically
Late fees and NSF processing are automated, with an automatic deduction on effective dated payments and addition on reversals and NSF.
Applications for Payment
To govern thresholds and payoffs, define the payment application waterfall and customer rules.
Software Solutions for Loan Origination and Servicing
Systems for loan servicing and management
App clone Script specializes in specialized loan servicing systems and Loan Management Systems (LMS) for businesses, credit unions, investment banks, and other financial institutions. These applications offer extensive loan origination, delivery, amortization, collecting, and payout features. We also keep track of several types of loans, such as personal, business, student, mortgage, automobile, installment, payday, and cash advance loans.
Loan Origination Systems are a type of loan origination system.
We provide Loan Origination Systems (LOS), which include platforms for online loan applications, underwriting, credit checks, decision assistance, and condition tracking, among other things. We build loan document management apps with compliance management modules for upload, querying, data retrieval, records management, and documentation.
Software to Assist with Loan Decisions
We create Decision Support Systems (DSS) in conjunction with Background Compliance and Credit Reporting Organizations (Experian, TransUnion & Equifax). Flexible risk management, rule-based engines used by third parties such as Data X, Microbilt, Clarity, and DecisionLogic are examples of such applications.
Software for Calculating Loan Amortization
Fixed, variable, step-rate, credit lines, multi-draw, Adjustable Rate Mortgage (ARM), interest-only mortgage, contract, pledge, and non-revolving loan rates are among the loan types we program. Multiple interest metrics are also supported, including simple, compound, periodic, real days, and Rule 78s.
Loan Servicing Portals Made-to-Order
App clone Script offers loan procurement database solutions that may be used in conjunction with CRM systems to ensure that data is collected, queues are tracked, and accounts are aggregated. For database tracking, account and balance browsing, payment collecting, and payout estimate, we develop self-service consumer interfaces. We also provide dashboards for borrowers and creditors to handle multi-borrower and syndicated loans, as well as co-borrowing.
Software Platforms for Loan Settlement
Debt collection and settlement solutions with automatic billing and auto-debit are set up by our expert programmers. Both systems accept payments by Automated Clearing House (ACH) and Electronic Funds Transfer (EFT), as well as credit cards, bank accounts, online wallets, and other payment methods. We integrate third-party suppliers such as BlastPay and AutoPal to provide best-in-class loan collecting and disbursement management solutions.
Features of Our Alternative to LoanPro Software
Access to the Internet
With complete internet access, borrowers may manage their loans at work or on the road.
User Accounts are a type of user account that allows you to log in
Create distinct user accounts with customizable restrictions to allow trained individuals to only access what they require.
The API enables you to interface your apps with the LoanPro Software replacement.
Our LoanPro Alternative Assists You Throughout the Entire Loan Process
An All-Inclusive LoanPro Alternative Assists You Throughout the Loan Process
We’ve created solutions that can handle everything from loan origination through loan servicing to oversight and collections.
Easy Integration / Customization
Consumers may use our platform to create fresh loan applications and complete out the necessary documents from a range of devices, including smartphones, tablets, and desktops.
Transparency / Automation
The customer is advised of outstanding documents at each stage and is integrated with the e-signature capability to reduce human tasks.
Analytics and Data
Deepen your understanding of your user base and expand your business.
The Advantages of Starting a LoanPro Software Alternative
- Expand your customer base with the help of the Omni-channel and DSA networks.
- Cutting-Edge Technology/Services Reduce Costs and Speed Loan Approval
- Reduces credit risk and non-performing assets
- A scalable and secure solution
- Profitability analysis in detail
- Through a complete reporting tool, you may comply with regulatory reporting requirements.
- Improved operations and service levels at the lowest possible cost
What are the Benefits of Using Our LoanPro Alternative?
Expertise that has been tried and tested
For some years, we’ve been a trusted Fintech software vendor, and we’re well-versed in security and compliance standards. We follow worldwide regulatory standards and rules at all stages of the process, including KYC, AML, GDPR, PCI, and others.
Are You Prepared to Collaborate?
We take pleasure in our ability to swiftly adapt ideas and offer solutions through the internet. If further work is necessary, we offer Development step services, which enable all business and technical requirements to assure a successful project conclusion.
Extremely high level of transparency
We are committed to maintaining openness and keeping our clients informed. To guarantee that the project runs on time and on budget, you’ll have access to excellent project management resources 24 hours a day, seven days a week.
With the help of our team of experts, complete crucial and delicate jobs. Use your firsthand expertise in web and mobile app design, research, implementation, integration, and cloud computing to boost your success.