Decipher Loan Origination

Streamline the entire loan process to increase originations and deliver superior customer service.

Decipher Digital Loan Origination

increase efficiency

With Decipher's digital application and customer portals, bringing in deals and moving them along quickly is a breeze.

improve workflow

With sophisticated internal coordination features, all teams and external collaborators are on the same page.

improve satisfaction

Borrowers can apply for funding in less time anytime and from any device increasing convenience and satisfaction.

increase originations

Decipher's smart tracking tools allow your team to work quickly and cut down on manual tasks to bring in more deals.

END-TO-END ORIGINATION

A true end-to-end solution to manage all aspects of loan origination.

Decipher-Digital-Application

Highly configurable white-label digital applications for any number of financial products. Access from any device anytime and capture information in real time. 

file

Prospects can securely upload files of any type in connection with their applications and all data is kept in their digital file for easy access and processing.

Accounting

Connect to borrower Accounting systems directly at the point of loan origination or anytime and extract read-only data to make better credit decisions.

bank (7)

Obtain borrower bank account information at the point of origination or anytime and extract read-only data to make better credit decisions.

new-email

Improve communication by automating status updates, requests for additional information, and other news to keep borrowers engaged throughout the lending process.

Dashboard

Share status updates, important information, next steps, and insights to elevate the borrower experience and increase customer satisfaction via their own personalized dashboard. 

Pros and Cons

Automatic tracking of missing required items on applications. Missing items are clearly displayed for easy follow up by your teams with automated or push email notifications. Reduce manual review, back and forth, and searches for missing items.

Filter

Manage multiple pipelines independently or that flow together so all teams across your organization are viewing their respective deal information. Ensure team members are all on the same page and increase coordination and efficiency. 

Link Symbol

Allows brokers, sales teams, BDOs, and other partners to generate personal links to applications. As soon as an application is started via the personalized link, the deal is automatically tagged to that individual. Application information is live and visible instantly. Deal owners can view all deals or be restricted to only their deals.

SecureData

Decipher’s cloud platform rests on the most advanced and secure infrastructure available today in order to safeguard customer information that is viewed, stored, and shared by commercial lenders. 

Important Features to Look For in a Loan Origination System

Loan origination involves the complete process of capturing a loan and approving a certain amount of funds on the basis of the client’s requirement and eligibility. The borrower applies for funding and the lender processes the application through different stages. While elaborating on the loan origination system, we can consider the seven most important steps including:

  • Pre-qualification criteria
  • Loan application
  • Application processing
  • Underwriting process
  • Credit decision
  • Quality control
  • Loan funded

It is a time-consuming process and also comprises the risk of human error. Therefore, an automated loan origination software system applies technology and reduces errors and speeds up the process. It simplifies the lives of lenders and streamlines the entire process. If you are a commercial lender and looking for a loan origination automated system, it is important to consider key features.

Features to look for in the best loan origination system

  • White-Label Digital Application – White-label highly configurable digital application capable of handling multiple types of financial products. It must be accessible from all devices with a user-friendly interface. Before adopting software, view a demo on your desktop, tablet and smartphone.
  • Image, PDF, XLS, CSV File Uploads – The commercial loan origination software should have no compatibility issue regarding file uploading. The option of multiple file upload for different applicants must be available in an organized manner. The format of files received is important. The system should allow upload of many kinds of files and use technology to read the information.
  • Bank Account Connections – The loan origination solution must be powerful enough to extract bank information. Bank data extraction is a crucial step for making better credit decisions. Analyzing borrower cash flow is key to streamlined loan origination and reduces chances of fraud.
  • Accounting System Connections – Another major feature to look at in a loan origination platform for making a better decision is accounting extraction. Connecting directly to a borrower’s account for read-only data extraction can simplify the process, reduce friction, and enable better credit decisions.
  • Digital Document Checklist – Your LOS software should be smart enough to track all the missing information automatically and should incorporate a checklist for meeting the criteria of loan eligibility or funding criteria. The loan is processed only when the applicant fulfills required criteria and certain terms and conditions. A digital checklist detects if anything is missing and clearly shows it on the checklist. This tracking system helps in reducing manual review headaches.
  • Notifications – As a lender, you need to stay up to date with status updates. The loan origination services solution should be equipped with instant notifications options. Along with the lender, it also keeps the applicant up to date with the current status of their application.

If you find a smart and secure loan origination system software, it will improve the efficiency and accuracy of your lending business. You will notice improved workflow with faster originations with fewer errors.