Having the right tools to manage loans is crucial. Tier3 online loan servicing software can transform your business by simplifying loan tracking, communication, and automating tasks. Answers, etc., provides high-quality loan origination software tailored for online lenders.
Online Loan Software
If you run an online lending business
COST EFFECTIVE
Tier3 Online Loan Software – LMS offers financial solutions that lower costs. Additionally, it includes an integrated lead management system and improved automation. Moreover, it enables native functionality to increase conversion rates for high-performing loans.
FULLY CUSTOMIZABLE
Tier3 can serve all long-term loan management businesses, whether online or in-store, with installment, payday, state, tribal or combined models. It has a customizable rules engine, lead management module, call center scripts and multiple workflows. Moreover, Tier3’s loan software is highly flexible and unmatched.
CONSUMER FOCUSED
Tier3 enables customers to enjoy a seamless boarding process through digital channels. The process includes verifying their ID and bank accounts, signing electronically, and communicating through text and email. Additionally, customers can access a comprehensive portal and automated collection features after funding.
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Flexible Loan Types
Tier3 online loan software supports an unlimited number of loan types. You can configure our Loan Design Engine to accommodate virtually any variety of loan. This includes single pay, installment loan, title loan, line of credit, or internet loans. Customer data is shared throughout the enterprise – across multiple product types, states, internet, and brick and mortar.
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Compliance
Compliance is a core component throughout the Tier3 system. Tier3 is configurable for operation in any jurisdiction and can accommodate multiple layers of regulation. This includes federal, state, local and any other that may be applicable. Including federal, state, local and any other that may be applicable. A built-in compliance portal and reporting tools will allow for streamlined audits, as well.
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Payment Processing
In today’s difficult regulatory environment, it’s more important than ever to have multiple payment processing types. Tier3 handles ACH, Debit, Credit, RCC, RCPO and other types out of the box. Additionally, new payment processors can be easily added with Tier3’s Payment Framework™ for virtually any API.
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Reporting
Tier3 includes wide variety of built-in reports to support all loan types, as well as a report creation tool that allows the design of user-defined, fully-customized forms for any location, region, or user-defined group of stores.
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Underwriting
You can measure an infinte number of criteria with the integrated Tier3 ScoreMaster™ decisioning matrix. This allows you to better determine an applicant’s creditworthiness. This allows you to better determine an applicant’s creditworthiness. Credit score, lead provider performance, ability to repay, and other data points are utilized in creating a custom scorecard that will become the secret sauce.
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Collections
Recovering delinquent capital is as much a part of the lending business as is originating the loan. The Tier3 collection tools manage the complete life cycle or the debt from delinquency to disposition. Leverage the collection module to maximize profitability while ensuring compliance to applicable laws.
Features
- PRICE REJECT MODEL
- LEAD PRIORITIZATION
- LEAD BALANCE & DISTRIBUTION
- CUSTOMIZABLE EMAIL AND TEXT
- CSR TEAMS
- CSR INTERACTIVE SCRIPTS
- LOAN UNDERWRITING WIZARD
- SELF-CREATED AND MAINTAINED CONSUMER LOAN AGREEMENTS
- MULTIPLE APPROVAL FLOWS
- TRIBAL APPROVAL MODULE
- BUILT-IN CONSUMER PORTAL
Key Benefits
Powerful
Tier3 is an effective loan tool that enhances operational efficiency and borrower experience. Moreover, it offers benefits to boost lending business profitability and efficiency. Its user-friendly design is one of its significant advantages, providing ease of use. Anyone can access it without technical expertise due to its intuitive interface.
Automation
Tier3 Online Lending Software prioritizes automation, reducing errors and saving time for lending tasks. This includes processing loan applications, underwriting, and document management. As a result, lenders make better loan decisions and increase profitability.
Moreover, the software provides reporting and analytics features to track lending performance and areas of improvement. Custom reports and dashboards offer a comprehensive view to make data-driven decisions.
The ease of use is a significant benefit of Tier3 Online Lending Software. It features a user-friendly design and intuitive interface for quick navigation and easy access to features. Technical expertise is not required for accessibility.
Customizable
Finally, Tier3 Online Lending Software is highly customizable. Additionally, you can tailor it to meet the specific needs of your lending business. Whether you are a small business or a large financial institution, Tier3 can provide a solution that meets your needs.
In conclusion, Tier3 Online Lending Software is a valuable tool for your online lending business. Accordingly, it will streamline lending operations, enhance the borrower’s experience, and drive profitability. Tier3 has a user-friendly interface, automation capabilities, robust reporting and analytics, and customization options. Tier3 can help take your lending business to the next level.