When looking for loan origination software for your consumers and clients, you want to find an end-to-end solution that is efficient, intuitive, and capable of simplifying the lending process. But should you consider the company providing your software? Should you evaluate the quality of the provider and how they serve their clients?
The short answer is yes. The quality of your loan origination and management software is only as good as the quality of your LOS provider. When choosing the best product for your team, you should consider if:
Your LOS Provider Offers a Customizable and Configurable Product
No two businesses are alike, and your company’s workflows are unique to your particular operation. It’s crucial to find lending software that is customizable and configurable according to your exact lending needs. While many loan origination software products are pre-configured upon installation, you want to find the provider who offers a robust, scalable solution that allows for easy, effective customization to enhance your established processes and maximize efficiency.
Skilled LOS providers should feature a product or products that successfully serve companies across industries. Whether you offer personal finance loans, auto loans, mortgage loans, retail installments, or any other lending service for your borrowers, if your LOS is configurable to match your exact needs, you can trust that you’ve found a quality product from a quality provider.
Your LOS Provider Consistently Releases Software Updates
Software updates are a crucial aspect of solid loan origination software. A provider that distributes updated versions of their product is a provider that pays attention and is constantly serving the needs of their clients, often before the client realizes they have a need in the first place.
Updates to your loan origination software not only resolve any present bugs or hiccups, but they also deliver additional security and performance features that address current requirements, regulations, or lending patterns. Routine updates show that your provider is staying on top of compliance and ahead of the trends so that you can receive the best possible product for today’s needs.
Your LOS Provider Is Easy to Get in Touch With
While a high-quality loan origination software provider will distribute a product that is intuitive and user-friendly, they will also be helpfully available to serve their clients when questions come up or when complications arise.
Issues can happen, and if or when they do, you’ll want a support team that is there with fast responses and effective resolutions. When considering which LOS provider to choose, look for the one that offers many ways to contact them (phone, email, text, online form, or even fax), guarantees quick responses, and delivers on quality customer service.
Your LOS Provider Has Experience Serving Clients
There are plenty of LOS options available today, but how many product providers have the experience that comes with serving clients for decades?
Years of experience means your provider has encountered problems and complications that resulted in opportunities to improve their product(s) and better serve their clients moving forward. They are seasoned and can rely on an immense wealth of knowledge and experience to bring you improved, more comprehensive solutions.
When it’s time to find the right provider for your loan origination software, look no further than Allied Business Systems.
Allied Business Systems has delivered exceptional lending services to clients since 1978, equipping them with robust loan solutions and continuous support. Today, ABS clients can count on absVision, a robust loan management software that is configurable, regularly updated, and scalable to serve your needs. When you need assistance, simply contact our 24-hour support team, and we’ll take care of the rest.
Discover all the ways absVision can serve your lending needs by speaking with an ABS expert today: 800-727-7534