• Product Reviews
• 08.05.2019 10:27 am
• TurnKey Lender: All-in-One Lending Automation Made Simple

Alternative lending is on the rise with the new players challenging the old-school banks in terms of speed and safety of credit products they provide. The only reason why they are able to match and outperform the traditional lenders is technology. Thanks to FinTech advancements, the lending space entry barriers are now incredibly low and smaller lenders have access to the level of automation previously accessible only to multi-billion corporations. And TurnKey Lender is the company that leads innovation in the spheres on lending automation, decision management, and risk mitigation.

TurnKey Lender is a Singapore-based provider of an intelligent all-in-one lending automation platform. To serve clients worldwide better, TurnKey Lender has offices in the US, Indonesia, Malaysia, Ukraine, and Brussels. This is the first software of its kind to put bank-grade software on the commodity cloud and to provide small to mid-size lenders with much-needed tools to automate every step of their lending process. The software is powered by proprietary deep neural networks and machine learning algorithms which make loan decisioning safer, faster, and less vulnerable to human error. The company’s tools have already been used in 40 countries worldwide and according to the customer reviews, their expectations are not only met but exceeded.

What is the demand for the solution?

All over the world there are still 2.5 billion people who don’t have access to quality credit products. And that doesn’t just slow down the development of the global economy but also presents an immense business opportunity for savvy lenders. Thanks to advanced proprietary loan decisioning algorithms and risk evaluation, it’s now possible to work with the audiences which were ineligible for loans in the past safely. TurnKey Lender is proud to be on the forefront of making fair lending globally a reality by means of their tools. With this all-in-one lending automation platform credit becomes accessible, safe, and easy to use both for lenders and for borrowers. Some of the things that make this platform stand out are listed below.

TurnKey Lender’s competitive edge and key features

Deep neural networks in loan decisioning

TurnKey Lender’s loan decisioning engine is powered by advanced self-learning deep neural networks and machine learning algorithms. They adjust to each business’ clientele and help approve more of the safe loans faster.

Proprietary customizable scorecard

Since each lender might have their own criteria of loan risks and approvals, TurnKey Lender offers a customizable scorecard which by default is based on proprietary models combining traditional and alternative borrower evaluation approaches and data sources.

All-in-one nature of the platform

The platform covers the entire loan’s lifecycle with its built-in functionality. The functional modules address the lender’s origination, underwriting, servicing, reporting, collection, and compliance needs.  

Country-specific editions

For each new major jurisdiction, the company rolls out a country edition of the platform to address the specific needs and regulatory requirements of the region.

Security

The system was built with both the latest and traditional informational security best practices in mind to protect the lender’s data as well as the security of their customers. The most recent security updates are aimed at compliance with the OWASP standard. The new features and releases are fully compliant with ISO 27001. Also, TurnKey Lender meets all the international standards according to the ISO 9001:2015 certification.

24/7 support

TurnKey Lender offers 24/7 tech support to its clients with issues of any scale.

Attractive price tag

The pricing starts at $500/month for the end-to-end solution and the number of users is unlimited. The final price depends on the type of lending operation, the size of the business, and other influencing factors.

White-labeling

Before deployment, the whole system can be completely white-labeled, to make it look like it’s a proprietary platform of a business that uses it.

Target audience

TurnKey Lender platform has multiple versions which are custom tailored for different kinds of lending models and lender types. The solution meets the needs of cloud lending, retail, payday loans, microfinance, in-house lending, lease finance, medical, dental, and telecom. Lender types it suits best are alternative, SME, peer-to-peer and direct lenders, auto financing companies, mortgage provides, community banks, and credit unions. TurnKey Lender offers a cloud-based system but users can opt to run the entire software through a local server. In addition, if you didn’t find the lending model or industry you work in above, you still can get in touch with the team and see what TurnKey Lender can do for you since the team is always happy to expand into new markets and help more people sell quality credit products easily.

Learn more and request a free trial to see how lending automation should be done.