Summit Technology Group’s secure, cloud-based LOS provides end-to-end automation, from digital online application and support documentation intake to loan closing. Built by lenders, Lenders Cooperative Loan Origination System provides a user-friendly customer interface and streamlined back-office processing with full API integration and decisioning, helping institutions disburse capital quickly and efficiently while balancing risk and security. The platform and workflow support small business, commercial and industrial portfolio, SBA and commercial lending products with full spreading tools, templates and an innovative credit model.
- Organizational Tools: Deploy digital credit memos and dynamic checklists.
- Lending Automation: Customize digital application and documentation intake through core integration.
- Centralized Platform:
- Workflow Assistance: Use automated workflow routing with queue management. Closing docs also automated in workflow with Docusign integration.
- Real-Time Dashboard Reporting: Review the status of loans, credit and other useful lending data.
- Staffing Partnership: Summit Technology Group’s credit team can handle credit underwriting and servicing.
- Security and Convenience: Apply for and receive loans through a secure, cloud-based online portal.
- Real-Time Updates: Set automated borrower status notifications.
- 24/7 Application Intake: Borrowers can apply for loans at their convenience.
Through the use of full API integration, your financial institution can automate many manual tasks involved in the loan origination process, which can save time and reduce errors. This can lead to faster loan processing times and lower costs for both lenders and borrowers.
- Improved Communication
The platform provides seamless communication between lenders and borrowers. Borrowers can easily submit documents and track the status of their loan application, while lenders can communicate with borrowers and other stakeholders in real time.
- Better and Faster Decision Making
With access to a new credit model and a wide range of data and analytics, each financial institution can make better informed lending decisions that lead to more accurate risk assessments and greater profitability.
- Enhanced Compliance
Stay compliant with regulations and standards by processing loans in accordance with relevant laws and regulatory requirements.
- Improved Customer Experience
The platform provides borrowers with a more streamlined and user-friendly loan application experience. With the ability to provide multiple lending offers in one seamless workflow, financial institutions have more options to meet the needs of their customers.