Whether you are a consumer finance company or a banking business, Kwik-Loan’s online loan origination software is the perfect solution to meet your lending needs. Our software is easy to use, affordable and scalable, allowing it to accommodate any size lending organization. As a true SaaS (Software as a Service) solution, Kwik-Loan enables loan originators to manage the complete lending cycle from origination to maturity from anywhere with a secure internet connection.
Kwik-Loan is made up of a series of powerful online tools designed to simplify the loan origination process without totally re-engineering how your business operates. By streamlining your efforts with Kwik-Loan’s comprehensive software, your business will increase its efficiency and be able to manage multiple clients in various locations. Our loan origination software gives you a complete and accurate view of the borrower’s portfolio allowing you to quickly make lending decisions and provide exceptional customer service. To learn more about how you can make lending process easier for your employees and borrowers, contact us today!
SOLUTIONS & ADD-ON MODULES
Online Loan Application Software
The Kwik-App online loan application is the first step to making lending simple. As the core module for the Kwik-Loan platform, Kwik-App allows loan originators to quickly take applications in the office or over the internet. In addition, renewals can be processed in a matter of minutes.
Key Benefits of our Loan Application Software:
- Fast credit decisions and loan processing
- Convenient online loan application form
- Secure personal information protection
- One single loan file—if any changes are made in closing, the entire loan file is updated
- All digital files within the system—no paper folders
- Extensive forms library
- Accurate calculations performed instantly on screen
- Automated auditing for errors
- Compliant in all 50 states
- Flexible, convenient printing options
Unlimited tracking allows you to keep an eye on your client’s collateral and valuation, insurance and tax information.
Our software’s open architecture allows for easy integration with other systems including general ledgers and front-end origination systems.
Make payment simple by allowing your customers to fund their loans through check or by debit and credit with Kwik-ACH & Kwik-Card.
Kwik-App’s software automates tasks related to the loan origination & application process including document generation, credit line extensions and approvals.
Kwik-Decision is an automated loan underwriting module that can make credit decisions electronically. Loan originators can use a standard scoring module or design a customized solution with the assistance of one of our credit specialists.
For more information about Kwik-App’s features, please download the Kwik-App Data Sheet. To start building a unique lending solution for your company, contact one of our representatives.
Loan Servicing & Collection Software
Kwik-Loan offers a suite of software products developed specifically for the consumer lending industry. The available product modules help lenders manage every aspect of their business, includingservicing and collections.
Kwik-Serv is a module that enables lenders to streamline the loan servicing and debt collection processes. This powerful servicing software allows lenders to create and manage loans for their customers with integrated billing and payment features. Our software is easy to use and can be installed quickly, giving you the ability to serve customers within a matter of hours rather than weeks.
Key Benefits of Our Collection Software:
- Default loan terms and conditions based on program rules
- Performs funds checking and reservation
- Automates loan approvals and funding
- Manages multiple disbursements
- Simplifies loan servicing by monitoring statuses and agent short-cuts
- Reduces delinquency rates with collections strategies
- Automates loan accounting and reporting
- Focuses budgets on competitive advantage rather than infrastructure (low total cost of ownership)
Easily automate and manage the servicing of your loans with features such as TILA generation, ACH processing (debits, credits, and exceptions), payment reminders, ROI tracking & real-time financial reporting. Our software was designed to work with the tools you already use and integrates with QuickBooks, Teletrack, dpBureau and many other types of accounting software.
Our debt collection software was designed to automate the collection process to meet the needs of both large and small organizations. Kwik-Serv automatically generates the daily debtor call list, keeps track of call history and contacts, tracks all court activities and helps you create a contact plan with automatically scheduled calls, letters & emails.
Loan Information & Payment History
When servicing a loan, it is important to keep track of your customer’s information. Kwik-Serv collects detailed records of your borrower’s name, address, payment amounts, payment history, loan and escrow balances, as well as due dates.
Kwik-Serv provides loan originators with a complete set of marketing tools that makes contacting leads and existing clients a breeze with the help of custom mailing labels and email marketing.
Back-end Management & Reporting
Kwik-Serv offers robust reporting features to help lenders manage all aspects of a business from tracking ROI to measuring the effectiveness of a marketing campaign.
Our software includes a General Ledger with 1098 and 1099 reporting.
For more detailed information on Kwik-Serv’s features, please download the Kwik-Serv Data Sheet. If you’re ready to get started, contact us to talk about the loan management solutions we can provide
Automated Underwriting Software & Credit Reporting
In an ever-changing world of technological advances and economic fluctuations, to remain a leader in your industry you must continue to increase your efficiency. For lenders, this is simple with Kwik-Loan’s suite of tools,designed to make direct and indirect consumer lending easier.
Kwik-Decision is an automated underwriting system that can make credit decisions electronically. Using the completed loan application information, our underwriting software retrieves relevant data and arrives at a logic-based loan decision. With the wealth of timely internal and external data that can be obtained through automated underwriting, loan originators can balance growth with financial stability by tailoring credit policies to their business needs and market conditions.
Kwik-Decision is part of the Kwik-App solution which helps improve cash flow, increase efficiencies, optimize customer relationships and instill corporate and fiscal discipline.
Key Benefits of our Underwriting Software:
- Fast credit decisions and loan processing
- Ability to approve or deny applications nights and weekends
- Flexible and configurable credit checklists, applications, scoring models, and credit policies
Credit Bureau Integration
Kwik-Decision provides loan originators with instant access to one, two or all three national credit bureaus (Equifax®, Experian® and TransUnion®) from one application. This credit report software combines multi-bureau data into a standardized report format and eliminates duplicate trade lines for quicker analysis. Credit reports are delivered in just seconds to speed the finance process. FICO credit scores, fraud alerts, OFAC checking and other credit-related products are also available.
Marginal applicants that do not meet the loan originator’s loan approval criteria are placed into an underwriting queue for manual review and the customer is notified that the application is pending.
Kwik-Decision reduces credit risk through standardized and global credit models. Our credit report software guides underwriters through a consistent, appropriate analysis process using credit scoring models and policies that you define. Once credit data is collected and analysis is completed, the applied scoring model combined with automation rules can guide the credit team to make consistent and prudent credit decisions.
To find out more about what Kwik-Decision can do for you, please download the Kwik-Decision Data Sheet. Or if you are interested in getting Kwik-Decision for your business contact one of our representatives to get started.
Dealer Financing Module
Kwik-Dealer is a web-based loan application management solution designed specifically for dealers. Through our module,auto dealers, furniture dealers and many other businesses are able to enter and securely manage their loan applications. When used in conjunction with Kwik-Decision, dealers can get quick automated approvals even when offices are closed. Dealers also have the ability to securely print a loan package or utilize Kwik-Sign to E-sign documents.
- Easy-to-use interface
- Automated credit checking
- Application history look-up
- Sophisticated reporting that’s flexible and easy-to-use
- Browser based technology with quick implementation
- E-sign capability
Dashboard Our software’s dashboard features a statistical summary of activity with the host company. For example, some of the statistical information included on the dashboard display is the total number of applications submitted and the total contracts purchased.
Our dealer module offers an easy-to-use Payment Calculator that will allow the loan originator to provide the applicant with an estimate of what their monthly payments will be for the loan.
The Print Docs feature in Kwik-Dealer allows loan originators to manually fill in and print either a copy of a single loan document or a complete set of blank loan documents.
The comprehensive application in Kwik-Dealer gives loan originators all the information they need to service a new loan. It includes detailed sections for personal information, contact information, military service, employment information, civil service, financial information and co-applicant pages.
Our dealer financing module allows you to sort through your Loan List by various filters and tabs. You also have the option to view all of your client’s loans in a table with their current status.
Loan Actions are the various tasks that can be performed to an application as it goes through the application process. The actions that are available to a loan originator will vary depending on the current status of the application is currently in.
- Upload Documents – The action item “Upload Documents” allows the ability to upload scanned documents as part of the loan application. This action is available throughout the loan application process for all loan statuses except for the “Verified”, “Funded” and “Denied” loan statuses.
- Stipulations – Stipulations represent the additional documentation that the underwriter might request in order to approve a loan application. This action is available for all loan statuses except for the “Verified”, “Funded” and “Denied” loan statuses
- Supplemental Applications – The Supplemental Application asks applicants to provide information that may also be used for loan servicing once the loan is funded. This action is only available for the loan statuses “Accepted”, “Approved”, “SignComp”, “SignPend” and “SignReady”.
Throughout the loan application process, regardless of loan status, messages can be exchanged as a private communication between the loan originator and the host company that is providing financing. When there are pending messages where a response is needed, the screen will display the text “Unread” in the Message column of the loan listing.
Kwik-Dealer is an all-in-one solution for dealers that want to provide in-house financing. For more information, please download the Kwik-Dealer Data Sheet or contact a representative to get started!
Document Management Software
Kwik-Doc document imaging enables loan originators to capture all data in an electronic file, eliminating the need for storing volumes of loan documents, misfiling documents and wasting time searching for old loan information. Kwik-Doc integrates with Kwik-Sign, an electronic signature software, to process loan documents over the internet. Once all documents have been signed, they are stored electronically in the Kwik-Doc document archive for storage.
Eliminate and streamline work practices while reducing the complexity of managing documents with Kwik-Doc and reap the following benefits:
- Save time and money with our automated indexing feature
- Assure quick and easy information exchange
- Ensure viewing documents regardless of the version of the source application
- Import images and other electronic documents for indexing and archival with ease
- Capture and index documents from any source
- Ensure unauthorized activities are not occurring while tracking user activities
- Secure documents in Kwik-Doc
Electronic Document Conversion/Image Processing
With our loan documentation software, import and convert electronic documents into a standard image format. The benefit of efficient and reliable archiving ensures viewing documents in the future regardless of the version or existence of the source application.
Automated Document Indexing
Kwik-Doc automates the most expensive and time-consuming step in the document management process – indexing.
Comprehensive Document Importing
Import images and other electronic documents for indexing and archiving. This loan documentation software is compatible with multifunction devices, email, fax, FTP servers and images captured using third-party software.
Easy Storage and Retrieval of Vital Information
Capture and index documents from any source, such as scanned, faxed and electronic files. Kwik-Doc supports a wide range of electronic content including Word documents, Excel spreadsheets, HTML and more. With Kwik-Doc, save time and immediately retrieve a document with variable or predefined search statements.
Secure Electronic Document Management
Securely store documents in Kwik-Doc. Administrators have the capability to customize the level of access for individuals or groups of users so that content is protected from unauthorized users. With our Audit Trail option, a Kwik-Doc administrator can also track document-related user activities to ensure unauthorized activities are not occurring.
Distribution for Immediate Delivery
Easily distribute documents stored in Kwik-Doc via LAN, WAN, Internet/intranet/extranet, email, or by a printed copy. Kwik-Doc provides the choice to distribute documents in original formats such as Adobe PDFs. With these choices, information exchange is quick and easy.
Find out more about Kiwik-Doc’s document management capabilities on the Kwik-Doc Data Sheet. To incorporate Kwik-Doc into you company’s processes, contact us today.
Loan Tracking & Payment Software
With a changing technological playing field, it’s becoming vital for businesses and financial institutions to deliver superior loan servicing, tracking, management and collection software solutions to their organization. At Kwik-Loan, we have dedicated ourselves to incorporating only the latest platform and database technology in our suite of loan management tools and strive to provide the most competitive pricing.
Kwik-View is an electronic bill presentment solution that allows organizations to reduce the cost of billing and collection, while improving overall customer service. Our software gives borrowers everything they need to manage their account information, monitor their account status, view recent transactions and invoices, and make online payments over the internet. Using our loan tracking software will empower your business by streamlining the loan management process and making your collection efforts faster and more efficient.
Key Benefits of our Payment Tracking Software:
- Providing an expansion for online business
- Allowing customers to pay bills online 24/7, regardless of location
- Lowering costs while improving customer satisfaction
- Delivering bills in electronic format to reduce processing
- Enabling credit card & direct debit processing
- Providing real-time payment confirmation
- Enhancing relationships with customer by delivering high-touch customer service
Kwik-Serves provides a secure way to streamline and simplify the collection process for operations. Bills are sent electronically and paid through our online payment service.
Access and control accounts around-the-clock in a secure online environment with Kwik-View. Customers can get questions about accounts and invoices answered without waiting on hold for the next available representative, access payment history, review and request invoice copies, view supporting documentation and even pay invoices online to avoid late charges.
Bill & Account Presentment
To pay their bill, customers will receive an email with a URL linked to Kwik-View that gives them access to invoices and account status through their web browser. Customers can also view account balance, aging, history and even drill down to billing details that are necessary for clarification but may not appear on paper invoices.
Invoices are emailed to the customer in an Adobe PDF format, but this does not affect the ability to continue sending invoices in either paper or EDI formats.
Bill & Account Payment
Payment is easy and flexible with Kwik-View. Borrowers can use the payment cart functionality to select which bills to pay (entire account balance, individual invoices, or partial invoices) and can pay by credit card without any customer service interaction. Because the payments are made online, they are received and processed in real time
Automated Billing Software for Loan Originators
The Kwik-ACH automatic bill payments service allows the electronic transfer of funds from the borrower’s account directly to the lender in lieu of a traditional billing and collection payment cycle. Easily disburse loan proceeds or collect loan payments via ACH. Clients who use Kwik-ACH have seen a significant improvement in their business’s cash flow and the potential for a substantial reduction in administrative expenses.
- Provides funds-in-hand on settlement day rather than having a delay
- No deposit and posting preparation costs
- Provides greater customer satisfaction; less hassle over delinquencies
- Eliminates manual procedures for processing payments
- Eliminates return envelopes and postage
- Optimizes billing rates with customers
- Improves enterprise revenue management and cash flow
- Simplifies billing processes & increases billing accuracy
- Preforms a complete audit of billing transactions
- Decreases reconciliation costs between the billing system and the general ledger
- Automates recurring tasks like updating customer accounts and applying payments
- Enhances billing controls with automated approval and exception management processing
Kwik-ACH allows clients to set up a scheduled billing date and automatically make a payment directly to their lender. This automated process eliminates check handling and printing/mailing costs while reducing the delinquencies of receivables and the possibility of insufficient funds.
Improve your cash flow forecasting and funds management by collecting payments on predetermined dates. Our billing software provides next-day funding availability from outlying locations
For more information about our automatic billing software, please refer to the Kwik-ACH Data Sheet or to get started building your loan management solution, contact us today!
Credit Card Processing Software
Kwik-Card allows loan originators to efficiently centralize the payment process across multiple branches. Branch managers have real-time visibility into cash inflows and outflows leading to better working capital management. A single point of payment administration provides audit and control. With Kwik-Card, loan proceeds can be funded via a Visa or Master-Card branded stored value card in lieu of cash or check.
- Open, extensible interfaces for integrating with other payment systems
- Out-of-the-box integration with leading payment processors
- Credit card support – validation, authorization and settlement
- Secure payment data repository
With our credit card payment software, you have the capability to disburse loan proceeds, payroll, incentives, etc. through ATM/Cash Cards. Receive loan payments from the cards too. The use of the ATM/Cash Cards reduce operating costs and lead to more efficient operations.
PIN-Less Debit Card Online Payment Processing
This debit card online payment processing provides merchants in selected industries with the ability to accept ATM cards as the payment method for non-face-to-face purchases by consumers. Unlike traditional methods, PIN-Less does not require the use of a PIN. Our unique debit card payment processing offers this capability to highly regulated industries such as:
- Financial services.
The MasterCard®, MasterCard® Electronic, Maestro®, and Cirrus® Brand Marks are among the most recognizable consumer brands in the world. Our software utilizes the Sallie Mae Debit MasterCard which offers many advantages to refund disbursement customers at no cost to the business office. The card can be accepted anywhere MasterCard® debit cards are accepted and can be used at any of the 35,000 Allpoint surcharge-free ATMs nationwide. As an added benefit, lenders can reload the same card with future loan disbursements.
To find our more about Kwik-Card and how it can benefit your business, contact a representative today!
Electronic Signature Software
Kwik-Sign utilizes a signature pad manufactured by Topaz Systems, Inc. to allow each signer on the loan to sign and initial the agreement along with other ancillary documents that are part of the loan closing. Once all documents have been signed, they are stored electronically in the Kwik-Doc archive. There is also an option to E-sign documents without the signature pad via Kwik-Dealer or Kwik-View. This e-signature software streamlines the document signing process and prevent document loss, duplication and missing signatures.
The Kwik-Sign software meets the compliance standards for the following:
- E-SIGN (US Electronic Signatures in Global and National Commerce Act)
- JITC (Certification by US DOD)
- GPEA (Government Paperwork Elimination Act)
- HIPAA (The Health Insurance Portability and Accountability Act)
- 21 CFR Part 11(a regulation governing the use of electronic signatures within the pharmaceutical industry)
- EU law (EU Directive for Electronic Signatures)
- SOX (Sarbanes-Oxley Act)
- UETA (Uniform Electronic Transactions Act)
- Indian IT Act 2000
Kwik-Sign meets the following regulatory requirements:
- Authenticity: the signature is uniquely linked to the signer
- Integrity: any tampering to the document can be detected
- Enforceability: signatures must be verifiable by all parties
- Non-refutability: the signature cannot be denied or disavowed
Kwik-Sign helps organizations realize the full value of automated-workflow investments by reducing fraud loss, improving customer retention, offering new channels to serve new markets, providing information on demand, reducing printing & postage costs, increasing employee productivity and improving the customer experience by serving clients faster.
Cross Functional Collaboration
Kwik-Sign integrates with Adobe Acrobat via the Topaz System key pad to allow borrowers to sign documents right from the application using the handwritten signature capture. It then converts them to PDF documents that are archived by Kwik-Doc allowing these documents to be accessed from any secure internet connection.
Moving processes to a fully electronic platform reduces the impact that operations have on the environment while saving your business money.
Kwik-Sign automatically opens up the default email client on your device with the signed document attached to it. Users can simply provide the email address of their choice and instantly send a copy to themselves or another recipient.
For a detailed overview of Kwik-Sign’s features, please reference the Kwik-Sign Data Sheet. If you’d like to find out more about using Kwik-Sign for your business, contact a representative today!