From Simple to Sophisticated – the Race is On!

We are excited to announce today a significant new product, CL Originate. While our origination platform has been in market for a couple years, this new version brings our...

Snehal Fulzele 12th August 2015

We are excited to announce today a significant new product, CL Originate. While our origination platform has been in market for a couple years, this new version brings our customers to a new level of real-time loan origination and underwriting, for both simple or complex loans.

Competitive advantage in the online lending market is a race to close loan applications quickly and accurately. In other words, he who finishes first, wins the deal.

financing_loan_originationTo power this requirement, we are introducing a completely configurable auto-decisioning engine for origination and underwriting. Why is this important? Because it’s not only how fast a lender can make a decision about an individual loan, it’s how fast they can change and update their underwriting engines. Just as it is no longer acceptable to take days to approve a loan application, it is not acceptable to take weeks to program your decision engine. Instead, you must have the ability to configure new rules and do so within minutes to remain in the race.

We have seen our clients who deliver unsecured, personal or small ticket loans flourish with this fast, configurable auto-decisioning. They are able to retain their “secret sauce” in their underwriting and win more business by making their loans as simple to get as placing an order on Amazon for their customers – 6 Click lending is here to stay.

But, the race is on elsewhere. Even complex underwriting processes have to up their game. For complex asset types like commercial real estate or collateral-based loans, loans need to be closed in days, not weeks or months. A new class of lender is hitting the market that quickly closes the more complex loans, running circles around banks. For these lenders, we are launching the Deal Room – a state of the art, collaborative online document management and due diligence process management feature that powers any complex lending process. The Deal Room provides real-time collaboration between all parties in the loan process – internal and external – and provides up to the date visibility into all outstanding action items to close the loan. The Deal Room allows complex lenders to clearly manage process, accountability and time, significantly shortening the time to close a loan. All of which means more capital to more borrowers to build more business in fraction of the time it takes traditional lenders to fund a loan.

We are proud to be working with innovative lenders who are pushing themselves and their industries to faster, more efficient and more accurate lending. All the while providing a better and better borrower experience. With the new CL Originate, we’re powering both simple and sophisticated lending processes.

The race is on – put your pedal to the metal!



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