Financial institutions offering loans need the best loan management software. With good software, you can handle fee management, database tracking, and application management. You will also enjoy excellent collateral tracking. Loan management software also has automation tools for flawless end-to-end loan servicing. Here is a list of the top three loan management software in 2021.

1. TurnKey Lender

This software is the global leader in Unified Lending Management (ULM). With an end-to-end system, you will control your lending process. TurnKey lender ensures that the loan application process and borrower evaluation is done.

Turnkey Lender is an operating system for decision making, loan automation, and automated borrowers’ ranking. The software implements modern credit scoring that fosters account approvals with minimal credit risk. The tool also features machine learning algorithms to enable the best credit decision. This means you will be giving loans to borrowers with good credit history.

Proprietary deep neural networks power this software. It features machine learning algorithms to enable the best credit decision. This means you will give loans to borrowers with excellent credit history.

Credit risk management is the one thing many leaders struggle with. You can address this issue by making Turnkey lender your ideal software. The key features of the software can be customized to suit the needs of your company.

Intelligent automation ensures that you enjoy flexible disbursal of loans. This AI-driven system uses machine learning technology in under 30 seconds. You will access the details to determine if a borrower qualifies for a loan. Despite the size of your business, you will enjoy unique features to stand out from the crowd. If you are looking for software to automate your recurring tasks, TurnKey Lender is what you need. This software will also address all issues crippling your company’s operations.

2. Lendstream

Lendstream is developed with an end-to-end API that allows you to incorporate service providers or third-party databases. The software is built-in configured workflow segments that automate every lending process. The lending management software also supports crowding business, secondary marketing, loan monitoring, and servicing. Choose Lendstream and enjoy easy management of the lending process.

With Lendstream, you will attract more customers because of the in-built Web application. Therefore, fostering quick access to client financial database, excellent rapport, and rational lending decisions.

Choose Lendstream and enjoy easy management of the lending process. It also helps you build rapport with your customers. This software enables you to access the customer database faster. You will then be able to make rational lending decisions. It comes with a built-in multi-language solution and currency converter. With that, you can serve as many customers despite their geographic locations.

Developed by experienced IT technicians and lending specialists, Lendstream will help you reduce defaulted loans and target your ideal market.

With about twenty years in the financial industry, the software helps a range of leading companies achieve their goals.

3. Novopay

Novopay is a global loan management software. It is reported to have been developed by agents for agents and is changing the lending game quickly.

The software helps customers to access money, repay loans, and complete payment processes. As you can see, this is a true game-changer for the financial sector and takes advantage of its features.

This consumer lending software leverages AI and machine learning to solve your problems. For instance, in less than three seconds, you will determine if someone has a good credit score.

By asking borrowers a few questions, the system can forecast their ability to repay the loan. It will help you make the best lending decisions to reduce the chances of incurring losses.

Novopay was developed by individuals with rich experience in the money lending business. They know the risks you are trying to deal with and have the best solutions for you. At the time of writing, Novopay is reported to be working on scaling its retailer network.

These are the top three lending software try in 2021. Though they share some features, each one has a thing or two that makes it stand out. Even if you are operating on a fixed budget, you won’t spend a lot of money using the software. So try them, and if you have questions, let us know in the comments.