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Turnkey Lender a comprehensive solution for online lending
based on “cloud” technology
Turnkey Lender – a “cloud” system* for automatic borrowers’ evaluation,
decision making and automation of all processes in online lending
Turnkey Lender – the result of Scorto’s decade-long experience in the field of decision management and risk mitigation
solutions and services. The best industry practices used in the leading banks are condensed into this out-of-the-box
solution supporting all stages of a loan life cycle – from application processing and underwriting to collection.
Turnkey Lender Features:
.. Automation of the decision making process using:
•• Integrated expert scorecard or bespoke scorecard,
•• Credit reports, automatically retrieved from a credit bureau,
•• Set of adaptable decision rules.
.. Full control over the loan management processes:
•• New loan underwriting,
•• System’s recommendation with a detailed scoring report for each account,
•• Loan servicing, including payment information, history of interaction with
customers and action planning for employees.
ON
EC
F I GU
RED IN THE SO
Expert Scorecard
for automatic
scoring
LU
T
I
ON
PR
.. Monitoring of the repayment process with automated reminders and alerts.
.. Flexible user and access level management.
.. Performance and portfolio reports, Executive Dashboard.
Decision Rules
for automatic
decisioning
OPTIONAL
credit report
Front office
loan application
form
My Account
customer
information
decision
Turnkey Lender Core
Loan Origination
automatic information
processing and decisioning
loan underwriting
Collection
action planning
payment receipt
write-offs
Servicing
account
management
payment receipt
Credit bureaus
customer data
data base response
External
Databases
customer data
Reporting
portfolio reports
performance
risk ratings
collection ratings
External Services
information
disbursement/
charge request
e-signature
on-line data storage
on-line CRM
other
Payment
Processing
Services
Lender is also available for on-premise deployment for companies that wish to install, manage, and maintain
* Turnkey
their software behind their corporate firewall.
Turnkey Lender © 2015
With Turnkey Lender you can enjoy:
Affordability
You pay just a one-time setup fee, and then monthly service fee for
the functional modules you actually use, which results in the best
ROI in the industry.
All-around solution
Turnkey Lender covers all stages of the loan life cycle: on-line
application, borrowers’ evaluation and scoring, underwriting,
servicing, collection, reporting.
Usability
You don’t need any specific skills to be able to work with Turnkey
Lender. Intuitive interface and clean design allows for a quick
learning curve in performing various functions.
Quick
You can start your business with the shortest lead-time in the
industry.
Flexibility
With a couple of clicks, you can set up your own decision rules and
credit policy, add users and assign roles.
Safety
All web communications are done via the HTTPS protocol to ensure
the security of your information.
Turnkey Lender © 2015
Turnkey Lender can be used with any type of unsecured
lending existing today
Consumer Lending in Retail
Whether you are a retailer who sells on-line or in store, you can improve your customers’ shopping
experience by giving them a choice in how they pay for goods and services: offering free credit or buy
now pay later options will attract more customers and increase your sales.
..
.. Control over decision making and loan management processes;
.. Simplified application process for returning customers;
.. Competitive advantage over rivals not offering consumer loans to their customers.
With Turnkey Lender you get:
Seamless integration of an on-line application form with your website;
Pay-day Loans
With growing industry competition and a high rate of defaults, you need the best instruments available to
make a decision on loan granting as fast as possible while keeping your credit risks under control.
..
.. Automatic scoring using internal scorecards;
.. Automatic retrieval of reports from credit bureaus;
.. Instant automatic decisions after the comprehensive applicant screening;
.. Quick money disbursements and automated collection (via integration with payment services).
With Turnkey Lender you get:
A specialized module for fraud prevention;
Lending Start-ups
Turnkey Lender allows you to get up and running quickly even on a tight budget. Start only with the
functional modules you need and a convenient SaaS payment plan, then grow your business and add
more functionality to support it.
..
.. Turnkey software system with advanced functionality for risk control;
.. Real-time reports and portfolio performance indicators.
Your investors will be impressed when you show them that you have:
A fully automated, working business;
Turnkey Lender © 2015
Microfinance Institutions
Currently many MFIs rely on labor intensive methods to assess loan applications and monitor defaulters.
With Turnkey Lender you can significantly improve the quality of your portfolio by utilizing the most
advanced scoring techniques and increase the efficiency of your collection activities by reaching out to
the customers with the highest risk first.
.. More customers and decreased bad debt losses;
.. Efficient debt collection actions;
.. Sufficient statistics for analysis and for adding new product offerings.
With Turnkey Lender you get:
Credit Unions
When the whole banking industry is migrating to the Internet, you cannot afford to operate only in brick
and mortar format. With Turnkey Lender you can offer your customers convenient 24/7 on-line access to
your credit facilities, while improving your credit risk management through use of internal scoring and
custom decision making rules.
.. Attract more “good” customers;
.. Increase customers’ satisfaction;
.. Cut your operating costs and increase efficiency of your operations;
.. Leverage the best industry’s practices widely used in big banks.
As a result you can:
Consumer Lending
in Retail
Turnkey Lender © 2015
Pay-day
Loans
Lending
Start-ups
Microfinance
Institutions
Credit
Unions
Turnkey Lender is a robust technological base enabling
automation at every stage of your online lending business
Turnkey Lender provides a technological base for each stage:
Customer enters their data and desired amount
Secure method of receiving data through the Internet
System calculates optimal loan parameters
Multi-dimensional borrower evaluation using decision rules
Loan is disbursed to a client
Automatic funds disbursement (optional)
Customer repays the loan
Automatic payment receipt, credit line management, delinquency management
Turnkey Lender © 2015
Online Lending Process Description
1. A customer enters personal information
and defines desired loan parameters.
New applicants choose an amount and a term
of the loan by pulling the slider. Then they are
prompted to fill in the application form and
to create a login/password for their personal
account.
After the application form has been submitted,
it appears in the “My Account” area with ID
number, date of issue, amount, term, finish date
and status (“Waiting for Approval”, “Approved”,
“Rejected”).
The customer can review loan details and a
payment schedule of each loan.
2. The system processes a loan application
and provides a decision or recommendation.
Once the application form is submitted Turnkey
Lender automatically processes it using
predefined algorithms and decision rules: a
credit bureau report is pulled if needed, internal
score is calculated, blacklists are checked, etc.
A final decision can be done automatically for
low risk borrowers or by an officer for medium
and high risk borrowers.
The borrower is automatically notified of
the decision made via e-mail and in the “My
Account” area.
Turnkey Lender © 2015
3. Underwriting.
The Underwriter can review a system’s recommendation
and credit scoring reports along with an internal
account history and a credit bureau report. The
Underwriter can request additional information from
the borrower and/or override a system’s decision if
necessary.
4. Servicing.
When the loan is approved, the money can be
transferred automatically through a payment processing
system. The disbursement information can be also
entered manually by the officer.
Payment schedules are automatically monitored by the
system and alerts are sent to the borrower and to the
officer in case of past due payments. At the discretion of
the officer, the loan can be rolled over.
5. Loan repayment.
Once fully repaid the loan is archived and the borrower
can apply for a new loan from the “My Account” area
without filling in a new application form.
6. Collection.
The Collector automatically receives information on all
past due loans. The Collector can create an action plan
for each account, prioritize the collection activity, record a
history of interaction, write off and restructure loans.
Turnkey Lender operating mechanism
Turnkey Lender
Application
processing
Underwriting:
Instant funds
disbursement
Automatic
payment receipt
Delinquency
management and
debt collection
Delinquencies
monitoring
Automate d
Manual
Secure method of
receiving data
through internet
Hybrid
Risk assessment
Terms
of credit
E-documentation
Automatic
repayments
Repayments
scheduling
Disbursement
Portfolio
analysis
Collections &
processes
Borrower
segmentation
Banks and/or
payment
systems
Internal
databases
Credit bureaus
Public Information
providers
(addresses, phone
numbers, etc.)
External
databases
Data storage
Turnkey Lender consists of the following functional modules:
Front-Office web interface
“New loan” wizard
.. Loan terms selection
.. Customer account creation
.. Filling of the application form
.. Automatic redirection to the
“My Account” area
.. Live chat. Online chat with the
company officers
My Account
.. Only for logged-in customers
.. List of active loans with details
.. Account status indication
.. New loan application
.. Ability to edit personal details:
••
••
••
••
••
Name
Email
Phone
Address
Employment information
.. Ability to change password
.. Ability to attach documents
.. Ability to request a rollover
Turnkey Lender © 2015
Software of the
lending
organization
Back-Office Interfaces
General features
.. Account list with 3 pre-defined layouts
.. Ability to filter and search the list of
loans or accounts
.. Role-based feature accessibility
system
6roles:
••
••
••
••
••
••
Underwriting
.. Automated risk scoring based on a scorecard and a set of
decision rules
.. Credit bureau reports can be automatically pulled
.. Scoring results and system recommendations are displayed
.. Ability to override the system’s decision
.. Ability to send the loan for reprocessing to the Loan
Originator
.. Internal credit activity and credit bureau reports are
displayed to help the Underwriter
Loan Originator,
Underwriter,
Loan Manager,
Supervisor
Collector
Admin
.. Internal users can see a payment
schedule and a list of accepted
payments:
•• Delinquent payments are
highlighted
•• Installment amounts are displayed
Loan Origination
.. New loan origination
.. Automatic filling of loan application
forms for existing customers
.. Payment schedule calculation
.. Ability to edit a loan amount, credit
period, and interest rates
.. Ability to edit customer details
.. Ability to send a loan for autoprocessing
.. Reviewing and recording a customer
interaction history
.. Ability to download and print a loan
agreement
.. Attachment of documents to a loan
application. The Loan Originator can
attach various document files to a
loan application (for example, a copy
of a passport)
Turnkey Lender © 2015
Servicing
.. Loan disbursement:
•• Manual (disbursement information can be entered
manually and stored to the system)
•• Automatic (integration with a payment system is
required)
.. Customer interaction history recording
.. Payment collection:
•• Manual (information about loan repayment can be
entered manually and stored to the system)
•• Automatic (integration with a payment system is
required)
.. Loan rollover. The borrower can request a rollover
.. Ability to review the Archive of loan applications (repaid,
written off, and rejected loans)
Collection
.. Payment collection:
•• Manual (information about loan repayment can be
entered manually and stored to the system)
•• Self-cure (integration with a payment system is required)
.. Collection agent’s action planning
.. Ability to store the “promise to pay” information
.. Ability to write off loans
.. Scripts of Collector’s conversions: texts that should be read
by the Collector when calling the borrower. Different texts
for different states of delinquency (including the cases
when the borrower has failed to fulfill a promise to pay) are
provided in the system
.. Loan restructuring (changing a number of installments with
automatic recalculation of installments’ parameters)
Reporting
.. Executive Dashboard
••
••
••
••
Portfolio ratings
Performance ratings
Risk ratings
Collection ratings
.. Portfolio reports
•• Active loans vs portfolio
•• Overall repayment amount per
interval
••
••
••
••
Number of loans grouped by amount
Number of loans grouped by risk level
Approved vs rejected
•• Account status (new, active, and
closed applications)
•• Applications statistics
•• Origination efficiency
.. Risk reports
Bad rate trend
Delinquency performance
Delinquency migration
Vintage Analysis
.. Scoring reports
••
••
••
••
.. User management
•• Create, edit, delete users
•• Roles and responsibilities can be assigned to users
•• Search users
.. Decision rules management
•• Rules can be enabled/disabled
•• Rule parameters can be set
•• Recommended decision can be set for all rules
.. Scorecard management
•• Ability to add a custom scorecard
•• Flexible editor of scoring categories and scoring
weights
Repaid vs disbursed
.. Operational reports
••
••
••
••
Administration
Scorecard accuracy
Delinquency performance
Final score
System stability
.. Overall performance of Underwriters
•• Underwriter Monitoring
•• Overrides by Underwriters
.. Export of reports in the MS Excel format is
supported
Turnkey Lender © 2015
•• Ability to define properties for different risk segments,
such as PD and odds value, recommended system
decision and comments, min/max score, and more
.. Email notification rules can be configured
.. Internal black lists management
•• Internal black lists can be managed and used in
decision rules
•• New records can be added to any blacklist available in
the system
•• Import of data from external files (XLS, CSV) of a
corresponding structure to the blacklists of the system
.. Ability to create a number of credit products with the
following parameters:
••
••
••
••
••
Minimum and maximum amount of granted loans
Minimum and maximum credit period
Interest rate
Overdue interest rate
Grace period
.. Export of information about available loans and payments
in the XLS and CSV formats
.. Ability to specify past due periods in days and determine
fees according to periods of delinquency
Turnkey Lender Technical details:
.. Available in Software-as-a-Service and classic client- server options
.. Dedicated servers with leading providers in the US, Europe and Asia
.. Access via standard web browsers
.. Outstanding technical support and maintenance
Technical requirements
for on-premise deployment:
Software:
Windows Server 2008 or 2012
.NET 4.5
ASP.NET MVC 5
MS SQL Server 2008 or 2012
Hardware:
CPU: 64 bit, 4+ cores (Intel i5/i7 or latest generation
of AMD processors)
RAM: 8Gb or more
HDD: 320Gb or more
For more
information on
Turnkey Lender,
please contact us at:
Headquarters
Barbara Strozzilaan 201
1083 HN Amsterdam
The Netherlands
Tel:
+31 (0)61 104-89-21
Email:
[email protected]
Web:
http://turnkey-lender.com/
Turnkey Lender © 2015