SynChordia Loan Origination
SynChordia Loan Origination is a first-class end-to-end loan origination software system, part of SynChordia Financial Suite product line, and tailored to meet the needs of the world’s most demanding lending markets.
SynChordia Loan Origination offers automation, efficiency and operational excellence to all steps of lending operations from taking a loan application up to disbursal of funds (or declining the application).
Loan Origination is one of the core processes for Banks. As it is the process by which it creates assets against which the Institution earns most of its profits from. Banks, due to the constant changes in customer environment, market dynamics, prevailing economic conditions, cost pressures & regulatory environment they run into lot of challenges. A combination of manual processes and a heavy reliance on paper work limits processing speed and contributes to errors, including lost or duplicated paperwork. Many banks still struggle with manual processes, duplication of data entry and data entry errors when processing loan applications.
As a result there is a need arising for Banking Institutions for a well-tuned loan origination process so as to automate the loan origination process at every step. Also, bankers need a system that can support all processes from start to finish, not just the traditional origination process. For example, an auto loan process does not end at funding, it ends when the title is received and recorded. SynChordia Loan Origination system fully supports these activities through embedded functionalities and workflows.
SynChordia Loan Origination system is an integrated software platform that provides a seamless integration of capabilities and functionalities for every facet of the loan origination process. Why choose multiple vendors for different stages of the origination process when you can work with one trusted partner? Intelli has integrated all of the features and functionalities you need to originate a loan in a single advanced system, SynChordia loan Origination.
Main key features and functionalities
- End-To-End Processing from Application to Funding
- Robust integration with all of your internal systems and other third party systems
- Web-based platform – latest software development approach based on 3-tier architecture
- Integrated and customizable web platform (friendly User Interface)
- Structured loan processing workflow for automatic routing of application
- Support different origination channels, loan products and loan parameters
- Automatic Tasks generation and management
- Document imaging and archiving
- Credit assessment, real-time credit scoring, compliance check and reporting tools
- Loan Status
SynChordia Loan Origination key benefits
- It is an end-to-end Loan origination System supporting all processes from start to finish, not just the traditional origination process.
- Automates lending business processes and business rules so that you can streamline and optimize your loan origination operations
- Provides the borrower with convenient, online access to apply, submit documents and check loan status.
- Offers data integrity and data transparency, speed and accuracy in the whole process
- It is a fully configurable system that can be easily integrated with any banking internal system or other third party systems.
- Reduces delays, redundant requests or lack of process transparency when customers applying for loans.
- Increases customers’ and banks’ satisfaction
- Reduces significantly bank’s operational costs
- Increases Bank’s profit
- It can be combined with SynChordia Paperless Biz product modules (such as digital documents transfer, e-sign) so as to lead to a paperless approach of loan origination processes and free up staff from manual tasks, loan checking, and compliance and QC efforts and streamline communication to allow for more time to provide hands-on service.