Vedifin helps you streamline your entire underwriting process. From mobile-friendly online applications to automated rule based decisioning, our tools help your loan officers make more informed decisions faster.LEARN MORE
There is a massive demand for small dollar or bridge loans, but the work and regulations involved in servicing these loans makes it unprofitable for community banks and credit unions. So we built efficient cloud-based software that enables these institutions to offer profitable alternatives to predatory lenders.
There are many new technology based lending mechanisms offered directly to loan applicants, from peer-to-peer lending to large funds lending. While many times these options are better than the predatory lenders, they are not institutions backed by the FDIC nor do they have the personal relationship, proven history and stability community banks and credit unions can offer. Our Vedifin software allows banks and credit unions to compete with these new offerings as well as provide a good option to those currently using predatory lenders.
The Vedifin platform allows lenders to setup a series of rules that automatically filter loan applications into specified groupings. This parsing of the applicants by the software significantly increases the amount of time to service loans. For example an applicant that does not meet a credit score threshold and length of time at their job is declined and automatically sent a declination letter. Your loan officers only spend their time reviewing applications that meet your institution’s criteria. Additionally all loan documentation is prefilled with applicant data and is even able to be electronically signed. All documents are securely stored on the applicant’s account and accessible by your loan officers from the Vedifin Administrator Dashboard.
Applicants can sign up for a loan using their smart phone.
Seamless integration with your current website.
Automated event-driven outbound email communications with applicants
Out-of-wallet identity verification, OFAC, and supplemental fraud screens.
Electronic signing for all applications, agreements, and related forms
Customized credit decision engines with access to all major credit bureaus
Customization of business rules, credit criteria, text, and visual elements.
Interactive reporting interfaces and customized downloadable reports
Your data is securely stored with bank level security in the cloud.
There are many other features to the Vedifin platform that we think will help your organization offer a great new product to your current customers. Contact us to setup a demo and learn more how your organization can be making more efficient and profitable loans today.
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