This article tries to explore the leading and most efficient loan management software applications in United Kingdom. These are lending application is use by lenders across England, Wales, Northern Ireland, Scotland, Ireland areas.
LAPS is based in Fareham near Portsmouth, England. LAPS stands for Loan Application Processing System. Laps has established a reputation for reliable software for pay day loans.
LAPS supports integration for Merchant payment gateways, credit reference bureaus. Collection module works smoothly, integrating debit cards and automated check outs.
LAPS also allow lenders to perform easy credit checks and prevent fraud.
Wales based Lending Software popular for its application – Sentinel and Journeyman that basically help lenders manage loans and credit facilities. Sentinel provides functionalities such as Loan Proposal
- Loan Administration
- Direct Debit Payments
- Collection Management
- Financial Accounting
Journeyman focus on agency lending such as hire purchase traders and is popular with credit sales, TV rental shops, Credit Unions and other Credit Traders.
BrightOffice is a cloud based Loan management software based in Lancashire. BrightOffice is customer centric and has more similarities to a CRM software such as Salesforce, Microsoft Dynamics, etc.
Has communication suite that supports email communications, SMS, Email Marketing and analytic tools.
BrightOffice has a rich API that allow easy integration with other financial providers such as banks, solicitors among others.
BrightOffice supports both multi agency (– ability to run multiple companies under one account) and white labeling (- ability to customize the software to the look and feel of your brand).
Lendstream is one platform that bring lenders and borrowers together based on data and product offering.
Helps Lenders in Loan origination, Loan Monitoring, Loan Collection.
Loan Origination process is guided by a rich credit evaluation of borrowers, risk guided loan amounts and limits. Lendstream also provides real time payment processing and risk tracking coupled with automated customer notification system
Helps customer to choose the best loan options through customer identification, income verification, lender invitation, Lender bidding, automated document management, data driven decision making, reports and analytics.
Some key features include:
- Multi-Tenancy & Customization
- Automated Workflows
- Integrated Document Management
- CRM & Communications
- Security & Tracking
- Scalability & Performance
- Analytics, Insights & Machine Learning
- Personnel Management
- Integrations & APIs
One of the simplest Loan Management software in United Kingdom is LoanBook. It’s an application available for simple lenders as application downloadable on Windows computers and Linux Computer, Mac users and mobile users use the web version.
It is available for free for the first user and therefore its worthy giving it a try.
LoanBook support some of the following functionalities:
- Loan Application
- Loan Approval
- Loan Disbursement
- Loan Payment Management
- Loan Reports and Statements
- Customer notifications and reminders.
Read more https://loanbook.io