Powerful Loan Servicing Software
With Biz Core’s powerful loan servicing software at your disposal, your lending business will be able to reduce costs, save time, and enhance customer experience.
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What Does a Loan Servicing System Do?
Loan servicing is an essential element of Biz Core’s end-to-end loan management software. Once the loan has been approved, the process of loan servicing begins.
Biz Core loan servicing software features include:
- Loan book management
- Automated payment scheduling and processing
- Collections and write-offs
- Arrears management
- Reporting
- Data import/export
- Document management
- + more
Keep Track of Payments
The full history of failed, successful, and altered payments for each and every customer is at your fingertips with Biz Core. Not only is it easy to manage customer records, but you’ll also get a high-level data dashboard to easily keep control over your lending business.
You’ll be able to see:
- Outgoings
- Scheduled transactions
- Failed transactions
- Monthly claims
- Monthly rebates
- Monthly revenue
- Transactions by status
- + more
Track Customer Interactions
No matter how long the customer and loan have been active, you’ll be able to trace borrower contact history. Employees can quickly scan back through previous information and documents to provide fast, accurate service.
Biz Core comes with unlimited cloud-storage capabilities. So you’ll never run out of space. You can transition easily between high-level customer information and specific payment ledger data. So you’ll know exactly where information is whenever you need it.
Automate Notifications and Alerts
One of the best parts of loan servicing software is that you no longer have to manually mail notices to your customers. Instead, customised notifications will automatically be sent via SMS/email. That way you can keep customers informed with up-to-date information.
Examples of financial industry notifications you can automate:
- Successful payments
- Failed payments
- Overdue notices
- Collection letters
- Loan completion notifications
Data Security
Data security and risk management are non-negotiable when it comes to sensitive information used by lending institutions. Loan servicing software helps you to reduce risk and enhance your data security. By moving away from paper-based records and outdated servicing systems you’ll be keeping your data safe and secure.
Biz Core’s built-in data security and encryption from Azure mean that you can rest easy. Their state-of-the-art security provides-multilayered data protection to keep you and your customers safe. Real-time global cybersecurity intelligence is used to quickly identify and respond to new threats. With Biz Core, you’ll have the benefit of our comprehensive and reliable loan servicing software and the assurance of Azure’s advanced protection.
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Why Use Biz Core Loan Servicing Software
Boost Customer Satisfaction
Make your customers happy with express application processing.
Paperwork is no longer a hassle when you can upload and sign documents from your computer, mobile, or tablet.
System and Data Security
Enjoy the comfort of knowing your data is secure with state-of-the-art Azure cloud security.
Eliminate Human Error
With a seamless and automated process to follow, you don’t have to worry about data entry mistakes holding you back. Increase trust in your business management and processes by tracking every step.
Data Visualisation & Daily Reports
Track your daily applications, transactions, and leads, and view your monthly revenue all on the same page.
Improve Organisation & Consistency
With a built-in workflow process, your staff and clients can rely on an efficient, pain-free application assessment and approval process.
Payment Automation
Never worry about payments again with scheduled direct debits. Track successful and failed payments, and set automatic notifications and reminders.
More Than Just Loan Servicing Software
Our client-centred approach means that our lending software has been built around your needs and the needs of your customers. Easy to use and ready to be tailored to your specific needs, Biz Core is more than just your trusted loan servicing platform. An end-to-end lending solution, discover how else our platform can help your business reach new heights.
Loan Lifecycle
A complete end-to-end lending platform to support you through every stage of the digital lending journey, from lead generation through to origination and servicing.
Learn more: Loan Lifecycle Management
Loan Book Management
Our simple and intuitive system makes loan book management easy. Single-point customer records, payment automation, and cash flow visualisation are just the beginning.
Learn more: Loan Book Management
Loan Origination
Get customers onboarded faster with fast processing, unlimited cloud storage, e-signatures, automation, and more.
Learn more: Loan Origination System
Business Solutions
A complete loan management system to service your specific finance business needs.
Learn more: Loan Management Business Solutions
Loan Servicing Software FAQs
View all FAQsWhat is loan servicing software?
The purpose of loan servicing software is to enhance customer and loan management through automation. All aspects of loan servicing are laid out in one easy to use system. You can save time, effort, and money by automating your loan service processes.
What is the best loan servicing software?
When you’re looking for the best loan servicing software you should consider the following:
What range of servicing features do they offer?
Are there tailored industry-specific solutions?
Do they provide local support and understand your specific needs?
What software do loan companies use?
A complete loan management software is the perfect solution for lenders looking to upscale their business, enhance customer satisfaction, and save on loan servicing costs. The full suite of features included in Biz Core’s loan management software provides you with everything you need to service loans from start to finish.
Get in touch with our friendly developers today for a live demo and see how Biz Core can change your business.