Loan servicing solutions

A complete loan servicing solution that's customised and cost effective

End-to-end loan servicing and management is complex and requires efficient systems. But you don’t want to be paying for capabilities that don’t suit your business.

Loanworks Loans Servicing solution provides end-to-end functionality for the entire life cycle of loans. But it’s scalable and customised to your needs, so you get a perfect fit solution, and that’s all you pay for.

Get visibility and take control of your loans

It doesn’t take much for important details to slip through the cracks, resulting in poor decision-making and a higher error rate. When it comes to servicing loans, knowing your position at every point in time is imperative.

You need real-time, intelligent reporting of your loan portfolio, funds and cash flow.

That’s hard to do with a spreadsheet, especially as your business grows. But you don’t want to outlay unnecessary expenditure on a complete core banking suite that isn’t designed to suit your operation.

A tailored solution

The particular combination of products depends entirely on your business. Loanworks will undertake a needs assessment, asking the questions only a lender knows to ask, and recommend (and then tailor) a solution that’s exactly right for you.

As a lender ourselves, with more than 18 years’ experience in the industry, we understand your daily challenges, and what it takes to manage them – no more, no less.

Our solution comprises 3 main elements:

  1. Complete back office loan servicing, covering:
    • Interest calculation
    • Payments processing
    • DDR and BPAY with financial institutions
    • Fee processing
    • Redraw processing
    • Statement printing
    • Rate changes
    • Account variations
    • Discharge processing
    • Arrears management
    • Customer communication
    • Product management
    • Portfolio & income reporting
  2. A self-service customer portal so your customers can log in, view their loan details, request changes and download statements.
  3. A self-service originator portal allowing originators to view and access their customer portfolios.

How do we make it work for you?

When it comes to designing a loans servicing and management solution, we have the expertise to do it. Loanworks is a leading provider of technology across the lending industry, delivering daily in terms of performance, efficiency, compliance and service level agreements.

We know that streamlining the loans process is one of your top concerns. That’s why it’s at the heart of our LMS (Loans Management System) and TMS (Trust Management System) – both designed, built and supported by us, from the ground up.

Tailoring our solution to your business is our priority, so our cloud-based service is a platform that delivers a suite of products – not just a collection of loan origination, servicing and trust management systems.

Cloud-based

Our platform is accessed over the internet, either as an on-premises solution or via the cloud as software as a service (SaaS), providing end-to-end functionality for the entire loan and fund life cycles.

LMS

Our loan servicing system (LMS) consists of:

  • Back office servicing that includes interest rate changes, payments, product changes, statement printing, funds transfer, DDR and BPAY with financial institutions, etc.
  • A customer portal running on smart phones that enables customers to perform loan-related online banking and enquiries
  • An originator portal that allows originators to manage their customer portfolios, and to track deals from submission through to loan discharge

 
Our LMS is seamlessly integrated with the upstream loan origination system and downstream trust management system.

TMS

TMS, the trust management system, is a web enabled online system that provides funding for loans in the LMS, and manages coupon payments and funds rollovers for funders and investors alike.

 

Payments collected in LMS are split and allocated in the TMS on a loan level and trust level, which makes real-time intelligent reporting of funds positions and cash flow possible.

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Streamline loans processing, beginning to end

A comprehensive loan processing system is necessary to improve margins, minimise errors, and ensure compliance.

Whether you’re starting out in the lending business or expanding your current operations, you need to focus on writing more loans, not scrambling to keep across ever-growing processing demands.

For a tailored, cost-effective solution, please call Andrew Duerden, our Director, Business Services, on +61 403 048 757. Andrew has worked on designing and delivering customised solutions for many clients, and has the expertise, creativity and commitment to find the right one for you.