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!
Powerful and complete Loan Servicing tools
- A professional web presence.
- Fast application process (online or in-office)
- Customized, automated scoring models
- Electronic signature
- Secure document storage and file upload
- Automated underwriting
- Robust servicing and collections
- Automatic input to general ledger
- Customer access & management
- Open Architecture
- Funds Distribution
- Task Manager
- Kwik-Decision Integration
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
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.
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!
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
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)
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
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!
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.
Automated Underwriting Software and 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.
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.
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.
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.
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