Online Loan Management for Private Lenders
Vergent’s powerful online loan management system gives private lenders like you full control over every aspect of the loan lifecycle. Built by lenders for lenders, this digital lending platform makes it easy and convenient to stay on top of all your loans and provide better service to your borrowers. With our help, you’ll gain the insights you need to make the most-informed decisions, automate key processes, prevent fraud and much more. As lenders and software experts, we understand your unique pain points and have developed the ideal system for helping you overcome them.
Key Features of Our Online Loan Management System
From loan origination all the way through to closure, our loan servicing software gives you all the functionality you need to keep your loan management as tight and efficient as possible. Our solution makes it possible to offload many of the most tedious and time-intensive tasks to streamline your processes, see real-time data for informed decision-making and keep your workflow as clean and effective as it can be. With the help of our lending platform, you can achieve:
Accurate Decisioning
Your risk is reduced when decision engines, paired with credit data, streamline your underwriting process. Eliminate guess work and reduce risk simultaneously.
Configurable Dashboards
Customize your dashboard reporting to instantly glean insight into the performance of your portfolio. Accessing your data in real time provides a competitive advantage for your business.
Instant Approvals
Vergent’s integrated decision engines expedite the process to provide a response in seconds. Aggregate the alternative credit data and verify customer identities to provide fast and accurate decisions.
Workflow Management
Streamline your workflows with automated messaging, customer profiles and disposition tracking. Uncover the endless customization options with Vergent’s comprehensive online loan servicing software.
Benefits of Our Digital Lending Platform
When you integrate Vergent’s loan servicing solution into your operations, you and your borrowers gain numerous benefits, including:
- Scalability: Our loan processing solution scales with your business, ensuring you always have the features and functionality you need no matter how many loans you service at one time.
- Efficiency: Streamline your processes and cut down on wasted time with automation driven by advanced artificial intelligence.
- Risk Management: Don’t just cross your fingers and hope you’re making the right decision — Vergent helps you assess each borrower’s unique risk profile and avoid those that would be a bad investment.
- Accessibility: Borrowers can get the answers they’re looking for whenever they need them, helping put their minds at ease and enhancing the overall customer experience.
- Faster Processing: With automated workflows and integrated decision-making capabilities, your customers can receive confirmation of their acceptance faster than with other solutions.
- Personalized Offers: Reach out to potential customers with the specific personal loan products that offer the best solution to their needs and convert more.
What Our Clients Say
Getting Started With Vergent
Built with an eye toward streamlining the entire loan lifecycle, our web-based loan management system provides you and your customers with exceptional efficiency. Automated processes take many of the most tedious and time-consuming tasks off your team’s shoulders so they can concentrate on more-important work. The omnichannel experience our solution enables makes it easy for customers to connect no matter how they reach out to you. The combined origination and servicing capabilities mean you can have total functionality with a single platform without sacrificing anything.
Our online loan management software also makes compliance and accounting much faster and easier, thanks to configurable compliance workflows, integrated accounting export, and automated report generation and seamless software integrations. It even provides you with greater speed and efficiency on the marketing side, collecting information about every customer interaction and automating outreach so you never miss a beat. We provide you with the most configurable fintech solution found anywhere.
Move Your Lending Operation Online
From acquisition to servicing, Vergent can improve your entire lending process.
What an online loan management system has to do
Digital lending software is the system of record for loans that are applied for, approved, funded and repaid without the borrower coming to a counter. That changes what the software is responsible for. In a branch, a person checks the identification, explains the disclosure and watches the money change hands. Online, the system does all three, and it has to be able to show afterward that it did.
Four responsibilities separate a web based loan management system from one that merely has a website attached to it.
Identity, without a person in the room
Digital account opening starts here. The application has to establish that the applicant is who they say they are, using verification services and document capture rather than a look at a driver’s license. The system has to record what was checked and what came back, because that record is the evidence if the loan is later disputed.
Disclosure at the right moment
Required disclosures have to be presented before the borrower is contractually bound, in a form the borrower can keep. Online, the timing is enforced by the application flow rather than by a person, so the sequence is a software behavior and has to be configured deliberately. What the law requires, and when, is set out on our Truth in Lending Act page.
Funding and repayment without a drawer
Money moves by ACH or card rather than by hand, which means returns, representments and failed payments are ordinary events the system has to handle rather than exceptions a manager resolves. Disbursement itself carries its own sequence of checks, covered on our loan disbursement page.
Self-service that actually serves
Every task a borrower cannot complete alone becomes a call, and calls are the cost that online lending was supposed to remove. The useful measure of a borrower portal is not how many screens it has but how few reasons remain to telephone.
Online loan application software and the rest of the system
Buyers often shop for online loan application software when what they need is an online lending system. The application is the visible part, but it is a small part of the work, and a platform that handles applications well and servicing badly moves the problem rather than solving it.
The question worth asking of any vendor is where the application ends. If an approved application becomes a loan in the same system, with the same record, the handoff is not a handoff at all. If the application is exported into a servicing platform, then every field mapping, every rounding rule and every reconciliation between the two becomes work somebody owns forever. The difference between origination and servicing systems, and what it costs to bridge them, is worth understanding before you compare feature lists.
Running online and storefront lending on one system
Many lenders are not choosing between online and in-store; they are running both and want one book of business rather than two. That is a configuration question rather than a feature question. The same loan product may carry different terms, different disclosures and different limits depending on the channel and the state it is written in, and the system has to hold all of those at once without the staff maintaining them twice.
Ask how channel-specific configuration is handled, whether a borrower who applies online and pays in person is one customer record or two, and whether reporting can separate the channels when you want it to and combine them when you do not.
Frequently Asked Questions
Can Vergent run a fully online lending operation?
Yes. Vergent’s Leads API integrates with a lender’s website to load leads directly into a queue, and the Customer Portal supports end-to-end self-service, including application, eSign, funding, and payments, for a fully digital lending experience. Only one internet store setup is allowed per state.
How does Vergent verify online loan applicants?
Vergent integrates with identity and credit verification providers such as Data X, Clarity, CL Verify, and FactorTrust LendProtect, and supports document upload (ID, pay stubs, bank statements) directly in the Customer Portal.
Is the online lending portal mobile-friendly?
Yes. The Customer Portal is fully responsive across mobile, tablet, and desktop, and supports English and Spanish.
What is an online loan management system?
Software that originates, funds, services and collects loans applied for over the web rather than in person. It carries identity verification, electronic disclosure and signature, electronic disbursement and repayment, and borrower self-service, together with the record showing each of those happened.
What is the difference between online loan application software and an online lending system?
Application software captures and decisions the application. An online lending system carries the loan from application through funding, servicing, payments and collections in one record. Where the two are separate products, the mapping and reconciliation between them becomes permanent work.
Can one system run both online and storefront lending?
Yes, provided channel-specific configuration is supported: the same product can require different terms, disclosures and limits by channel and by state. The questions to ask are whether a borrower who applies online and pays in store is one record, and whether reporting can both separate and combine the channels.
Upgrade to Modern Online Lending Software
From acquisition to servicing, Vergent can improve your entire lending process.
