DecisionLender: Retail

An integrated retail lending process for installment sales and retail finance.

DecisionLender: Retail is a loan origination system that enables you to design a retail lending process for any type of unsecured retail loan, retail finance or installment loan including specialty lending or “lifestyle” options such as major purchases for the home, elective medical procedures and dental surgery, solar, power sports, etc. It’s the fastest, simplest, most cost-effective way to grow your volume in the competitive arena of retail lending services.

About DecisionLender: Retail

How big is lifestyle lending?

The growing market for retail finance services and purchases adds up to trillions of dollars each year. Too many of these loans are being captured by other lenders offering rates and terms your products can profitably beat.  To capture your share of these indirect retail  loans in today’s competitive financial world, you need a solution that connects you with point-of-purchase providers and puts your loan product in the borrower’s hands at decision-time. The retail lending system has to make it easy for borrowers to choose you.

What is DecisionLender: Retail?

DecisionLender: Retail is delivered as a cloud-based, software as a service (SaaS), loan origination solution (LOS) for indirect lending. It links via a secure internet connection your lending program to your approved merchants.

When customers need to finance the purchase, the merchant enters the applicant’s data into your online application and hits “send”. In minutes your retail finance vendor can receive a loan decision because the software provides a workflow that does the busy-work such as automatically pulling credit reports and other data, then routing the application to a retail loan officer for review, alternatively use the auto decisioning feature to instantly provide a decision.

What about point-of-purchase provider relations?

You work hard to cultivate relationships with local providers, and you don’t want to compete against other retail lenders on every loan application. With some lifestyle-lending solutions you’re just one lender in a network. But with DecisionLender: Retail, it’s just you and your provider. No one else gets the application. It’s great for borrowers looking for local sources for their needs, and with each retail loan, your provider relationship gets stronger. Simply, it’s a local lender supporting a local business and a local borrower community.

What’s so good about DecisionLender: Retail?

  • Simple: No expensive software packages to buy, install or maintain. Easy to learn, a snap to use. And point-of-sale providers love it!
  • Fast: Can put a decision in customers hands quickly – with terms and rates clearly spelled out.
  • Exclusive: No other lenders to compete with. It’s just between the loan source, merchant, and retailer.
  • Inexpensive: Much less expensive than any purchased retail lending software system. Per-click charge means you pay only for the apps you get.
  • Manageable: Excellent menu for real-time management reports puts smart summaries at your fingertips.
  • Expandable: Your retail loan business can’t get too big for our systems to handle efficiently.
  • Reliable: We keep everything running smoothly and securely with AWS SSAE 16 compliant hosting services, plus SOC 1 & SOC 2.
  • Through our API interface directly with a merchant’s POS system.
  • Utilize eCelerate, our paperless solution for automatic forms and contracts.

 

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