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Cloud-Based Digital Lending Platforms from Rootfacts Accelerating the Growth of Lending

At present, the financial industry is in a phase of digital revolution. However, the lengthy and slow paper based lending processes in traditional lending hinder Financial Institutions’ (FIs) ability to respond to changing borrowers’ needs. FIs can achieve this by adopting cloud-based digital lending platforms that enable them to enhance customer experience, streamline loan processes, as well as unlock new growth opportunities. A leading provider of state-of-the-art fintech solutions, Rootfacts has developed a robust cloud-based digital lending platform for assisting FIs in transitioning into a more efficient and agile lending landscape.

Importance of Traditional Lending Processes

Conventional loan procedures sometimes puzzle lenders with several issues such as:

Delayed Applications

Cumbersome manual documentation and verification processes take long leading to late application returns which frustrate borrowers and delays loan approvals.

Rigidness

A broad range of products or enough flexibility to accommodate diverse categories of borrowers cannot be accommodated by conventional financing models.

Lack of Scalability

Manual methods cannot facilitate effective scaling when there is an increase in loan volumes.

Silos and Limited Analytics

Disconnected sources prevent the availability of comprehensive borrower risk profiles that are needed for informed credit decisions.

Digital Lending Solutions in Cloud Computing

Rootfacts cloud-based digital lending platform empowers FIs by:

Online Loan Origination (OLO)

By making it possible for online applicants to apply for loans at any time or device location this stages makes ease accessibility.

Efficiency and Flexibility Gains

This infrastructure allows smooth scalability and business expansion due to lack of IT infrastructure and no limits on volumes of loans.

Simplified Loan Application Processing

Save time and improve customer satisfaction through automation of document collection, verification, and credit rating.

Risk-Based Lending Decision Making

Financial institutions (FIs) can offer more personalized loans, supported by data analytics tools that help them identify better repayment risks resulting into pricing optimization tactics.

Cloud-Based Real-Time Analytics and Data Integration

Instant realization of borrower behaviour and portfolio performance is done when data from multiple sources is combined.

Advantages of Cloud-Based Digital Lending Platforms for FIs

By implementing Rootfacts cloud-based platform, FIs can enjoy a number of great benefits that include:

Significant savings are made since costly on-premise IT infrastructures are avoided, operational processes simplified.

Loan processing periods are significantly decreased by streamlining workflows and automating repetitive tasks thereby freeing up key resources to be used elsewhere.

Today’s customers demand faster, digitally first loan applications that prioritize their needs.

Data-driven decision making that accurately evaluates consumers to offer personalized financing solutions would lead to higher loan approval rates.

Mitigate risks using cutting-edge analytics while gaining real-time insights into your portfolio.

New customers will be able to access the scalable, flexible platform on which different loans can be offered to promote corporate expansion.

This means that FIs can utilize Rootfacts cloud-based lending platform which has the following:

Automated Credit Scoring and Decisioning Engines

These systems enable lenders to rate borrowers’ credit worthiness using machine learning algorithms and AI powered models as well as make data driven judgments on loan approval or denial.

Document Management System

All documents connected with loans can be kept safely through electronic means, doing away with paper records and progress in work flow.

Customer Relationship Management (CRM) Integration

These platforms seamlessly integrate with existing CRM systems thereby enabling holistic customer management and customized credit offers.

Regulatory Compliance

This includes audit trails and built-in compliance measures to meet ever-changing lending regulatory requirements.

Design for mobile first that enables borrowers initiate applications and manage loans while on the go.

Why Choose Rootfacts for Your Cloud-Based Digital Lending Platform That Is Mobile First?

There are a few benefits of choosing Rootfacts as your solution for cloud-based digital lending platform.

We know a lot about the industry where we give out loans hence this is why our solutions are very efficient because they address the problem as it is.

Our secure cloud infrastructure ensures robust security and reliable performance levels.

Our platform is made up of specific configuration settings such that we are able to modify them appropriately according to features needed by your organization specifically.

We adhere to applicable financial regulations while ensuring strong encryption techniques protect data more than anything else does.

Ongoing Maintenance, Assistance, and Support; Learn how to optimize your platform’s value from professionals who help you do so.