Switching loan origination systems (LOS) is a major operational decision for any financial institution, lender, or finance company. The right platform can streamline workflows, enhance compliance, and improve customer experiences. However, transitioning from one platform to another requires thought and careful planning.
At Allied Business Systems, we’ve helped lenders across the U.S. seamlessly transition to absVision, our powerful and customizable loan origination system, designed for modern lending. Whether you’re moving from an outdated LOS, a homegrown system, or manual processes, you’ll experience a straightforward migration path with the proper preparation.
In this guide, we’re outlining the key steps to migrate from your current loan system to absVision, ensuring a smooth, efficient, and disruption-free transition.
Why Migrate to absVision?
Before diving into the migration process, it’s helpful to understand what makes absVision a strong choice for lenders:
Comprehensive Loan Lifecycle Management
From origination to servicing, absVision supports the lending process at every stage of the loan’s life.
Customizable Workflows
absVision allows lenders to tailor their systems to their organizations’ unique processes.
Regulatory Confidence
absVision’s automated compliance features significantly help reduce risk and maintain accuracy throughout the loan origination and management phase.
User-Friendly Interface
absVision is built with front-line lending teams in mind, made to be intuitive and easy to use.
Scalable Architecture
absVision’s scalability allows lenders to grow their loan portfolios without outgrowing their systems.
Migrating to absVision inherently means upgrading to a platform that improves efficiency, accuracy, and customer satisfaction.
How to Transition Away From Your Current LOS to absVision
Step 1: Evaluate Your Current Loan Origination System
Every successful migration starts with a clear understanding of your current system and lending process.
Conduct an internal assessment to identify:
- Core processes your team relies on
- Gaps or frustrations with your current LOS
- Manual tasks that could be automated
- Reporting or compliance challenges
- Integrations you currently use or need
This evaluation gives both your team and the experts at ABS a foundation for planning a smooth transition.
Step 2: Meet With the ABS Implementation Team
Once you’ve decided to migrate, your ABS team will help ensure it’s a smooth transition. We’ll guide your organization through the transition from start to finish.
We work with you by:
- Discussing timelines and deadlines
- Reviewing your current data structure
- Mapping out workflows and required configurations
- Identifying any custom features or integrations
- Establishing communication channels for the project
Your ABS team ensures you always have a point of contact throughout the migration.
Step 3: Prepare and Clean Your Data
Whether you’re migrating from another LOS or from spreadsheets, clean data is essential.
To prepare your data, your team should:
- Remove outdated or duplicate records
- Standardize customer information
- Validate loan histories and balances
- Confirm the accuracy of the required fields
ABS will work with you to ensure information is correctly formatted before import. This step minimizes delays and ensures the migrated data is reliable and usable from day one.
Step 4: Configure absVision to Match Your Workflows
No two lending operations are the same, and absVision is built to adapt.
ABS works with you to configure:
- User roles and access levels
- Decisioning workflows
- Loan types and product settings
- Notifications and automated tasks
- Compliance rules and documentation
- Integrations with payment processors, credit bureaus, and more
This customization ensures that absVision not only replaces your old system but also improves on it.
Step 5: Migrate Your Data Into absVision
Once your data is prepared, the ABS team securely imports it into absVision.
Data importing can include:
- Uploading all loan, customer, and historical transaction data
- Testing accuracy and completeness
- Reviewing reports to verify successful migration
- Correcting or adjusting any inconsistencies
ABS follows proven migration procedures to reduce risk and ensure a reliable transition.
Step 6: User Training and System Testing
Before you go live, your team will receive hands-on training with absVision.
Training typically includes:
- Navigating the interface
- Processing and originating loans
- Generating reports
- Managing customer accounts
- Using custom workflows
- Understanding compliance tools
Your team will also test real-world scenarios in the system to gain confidence and identify any final adjustments that may be needed.
Step 7: Go Live With absVision
Once training is complete and your data is verified, you’re ready to go live.
Going live can feel intimidating, but ABS is here to address any questions or concerns you may have.
We provide:
- On-site or remote support during launch
- Real-time troubleshooting
- Post-launch optimization
- Continued customer support packages
Most teams experience immediate improvements in speed, accuracy, and workflow clarity upon switching to absVision.
Step 8: Ongoing Support and Feature Enhancements
Your relationship with Allied Business Systems doesn’t end at go-live.
ABS provides:
- Continuous customer support
- System updates and enhancements
- Access to new features
- Optional custom development
- Training for new team members
We partner with lenders on a long-term basis to help them maximize the return on their LOS investment.
Upgrade to absVision with confidence by partnering with Allied Business Systems: 800-727-7534
Migrating to a new loan origination system may seem daunting. Still, with Allied Business Systems on your side, it becomes a streamlined, step-by-step process. absVision is designed to support lenders throughout every stage of the loan lifecycle, and ABS’s experienced implementation team ensures a smooth and secure transition that aligns with your business goals.
If you’re ready to modernize your lending operations, contact the experts at absVision. We’re ready to support your growth: 800-727-7534
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