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Applications

The LoanVantage application experience includes modules for employee-entered loans with both desktop access and an online application for applicant self-service.

  • Secure Digital Application: Provides a secure online application and document submission process for consumer and commercial loans.
  • API Integration: The LoanVantage API allows the transfer of application and documentation information collected by third-party CRM applications into LoanVantage.
  • Efficient processes: Pre-populate applications with data from customer information systems, reducing manual data entry and speeding the application process.

How it Works – For Your Employees

With powerful flexibility that’s configured in the Administration module, the LoanVantage application process is designed for ease of use, gathering the information your bank or credit union needs to make an informed credit decision. Some key features include:

  • Streamlined and standardized analysis and review of commercial, small business, and consumer loans
  • Borrower relationship-centric with identification of all customers, collateral, and accounts included in each file
  • Credit analysis including full financial spreading, ratios, and automated ProSight comparisons
  • Documents, covenants, and exceptions tracking and reporting
  • Integrated document capture and display
  • Easy-to-use task flow management with alerts and ticklers
  • Automation of monthly Criticized Asset Reporting (CAR) and Annual Reviews

User Portal

The User Portal offers your financial institution’s employees a full-featured interface that can manage all activities from accepting applications to analyzing credit to decisioning, with configurable work queues that ensure the right people are pulled into the decisioning process at the right time.

Mobile Edition

The LoanVantage Mobile Edition is an app supported on iOS® and Android™ devices that allows users to access leads, sales goals, engagements, and approvals and perform site visits outside the branch. Users can also chat securely with colleagues in the office, making it easy to conduct business securely while on the road.

Work Queues

Work queues are powered by a robust query builder, and used for ad-hoc reporting, to perform updates, to approve incoming documents, and for overall tracking. Work queues can be assigned to different users or teams, and can appear on the home portal and provide users with the ability to view subsets of different types of information including loans, engagements, policy exceptions, required documents, etc. Learn more about work queues.

How it Works – For Your Applicants

The online portal consists of an online application and optional portal used for document exchange.

Online Application

The Online Application is a simple digital application with optional automation for loan decisioning. The integration with LoanVantage eliminates the need to rekey applicant data collected online, creating a low-friction process for applicants and your employees alike.

In the Online Application, applicants can initiate a new application from a designated list of financing types. They may also resume an existing application, and set or change their password.

Streamline your intake process with the Stop Application feature. This tool identifies applications that do not meet basic requirements prior to submission, helping you reduce the volume of unqualified applications entering your workflow.

The application itself is configurable, and includes the following page types:

  • Welcome Page: If enabled, the Welcome page is the first page that appears when the applicant selects Apply Now from Online Portal or after signing in from a direct link to Online Application.
  • Information Page: This optional page can be used to present Declarations questions and/or Disclosures.
  • Request Page: Indicate the type of loan request needed.
  • Auto Details Page: When the Auto Details page is set to appear in a model, it can collect extra details.
  • Your Information Page: The Your Information page is used to match the party to a LoanVantage record and streamline the application process so that the applicant does not have to enter all of their information.
  • Identity Verification: Identity verification is used to confirm the identity of the applicants.
  • Owner Information Page: Owner fields require limited information because the owner may have little personal information about other owners. This process ensures that sensitive information is secure for the owner and co-borrowers.
  • Personal Address Page: Enter personal address information.
  • Income & Expenses Page: Enter income and expense information for personal parties.
  • Business Information Page: Complete the fields for business information.
  • Business Borrower: Additional Information Page - Complete the additional fields for business information.
  • Business Addresses Page: Complete the business address information.
  • Business References Page: The Business References page can appear or be hidden for the applicant to complete fields for the Accountant, Attorney, and Insurance Agent.
  • Business Obligations Page: Complete the business obligations information.
  • Business Deposits Page: Complete the business deposits information.
  • Collateral Page
  • Declarations Page: The Declarations page cannot be hidden because it includes required questions that must be reviewed based on the model setup.
  • Disclosures Page: Disclosures can display any disclosures that must be acknowledged.
  • Terms & Conditions Page: The Terms & Conditions page displays the financial institution’s terms and conditions.
  • Review Page: The Review page includes a summary of all information to submit in the application.
  • Status Page: The Status page appears to the primary applicant when there are multiple parties (co-applicants) in the application.
  • Results Page: The Results page shows the result of the application.

Online Portal

Sometimes referred to as the Document Portal, this optional module integrates with the Online Application, enhancing security by using a secure portal for document submission and eliminating the need to mail or print sensitive documents.

This portal also provides the ability for borrowers to track their Loan Status after the online application submission, and the Required Documents generated by business rules can be pushed to the portal for customers to upload. Those uploaded documents are then pulled back into LoanVantage for easy document exchange.

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