Loan Management System (LMS)
Loan Management Software Application for Finance Companies
Verifacto’s loan management system (LMS) gives finance companies the ability to quickly collect loan payments on time while expertly managing each customer’s loan status and insurance risks on a single interface for improved capacity and profitability.
After an auto loan is originated, most of the valuable profit for a lienholder comes throughout the term of the loan based on interest and steady payments and reduced insurance risk. Making sure to collect all the payments with interest is not a simple task and any error can create a huge overhead.
In addition, with high number of accidents an insurance risk will reduce a lender’s profit. As a finance company, you want to ensure you have the proper solution in place to manage the loan payments, reduce insurance risks and maximize profit
Verifacto is a leading provider of cloud-based software for auto lenders, dealers, and finance companies. With LMS, lenders can rely on our professional experience to help them set up, manage, configure, and maintain their loans. Verifacto’s LMS is available only through their risk management portal. Other lender solutions from Verifacto include insurance tracking, collateral protection insurance, bankruptcy search application and POC filing system, and payment processing software.