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Lending is a world in which you will seldom hear the word improvisation. After all, everything is calculated. And for good reason. There are consumer and business risks involved that can be critical if mishandled. But, maybe improvisation isn’t so bad? Jazz (hear me out), is a style of music and performance that relies heavily on improvisation, but when you pay close attention, you may notice that, though seemingly, “off the cuff,” there is an underlayment of precision, intention, and rigidity. Using all the right players with their own specialty (piano, upright bass, percussion, for example) with an experienced band director can bring a beautiful balance of calculation and improvisation. In the world of loan origination, a similar symphony unfolds when credit scoring, identity verification, fraud prevention, and more harmonize seamlessly, when backed by, say, the FNI Blueprint LOS platform.

Let’s explore how this melodic blend of technology orchestrates a smooth and secure lending process, helping to ensure that lenders hit all the right notes while safeguarding against potential risks.


Employment Verification in Lending Data Integration

The Sweet Sounds of The Work Number from Experian

By leveraging additional data sources, such as employment and income verification, lenders gain a more comprehensive and accurate understanding of borrowers’ financial profiles. Among a suite of native and third-party integrations, lenders on the FNI Blueprint LOS platform have the opportunity to utilize data from The Work Number, the industry-leading employment (and more) verification platform to strengthen risk management and decrease fraud. A recent article from The Work Number, focusing on Credit Union lenders, mentions that 

“Online lenders can offer fast and convenient loans, which may be appealing to consumers who prefer the ease of fast-paced transactions.”

This is ever-so-true and like a musical performance, a little bit of variety is the ideal blend. Lenders who can offer a data-driven brick-and-mortar lending experience that matches their web-based application process may find the most efficiency in internal processes, but also in application volume. And, automating data collection is great, but how do we address challenges in the process that need a more hands-on approach?

The FNI Blueprint Loan Origination Software, paired with the intelligence of The Work Number provides an automated approach to fraud prevention and identity verification, ideal for lenders to launch at scale.


Being Vocal in Loan Orchestration 

Integrating with Text-Based Solutions for Low-Barrier Borrower Communication

Though we become more and more used to digital-first lending processes by the day, the need for direct conversation won’t be eliminated any time soon. Bridging that gap by integrating text-based messaging into the process allows for two key benefits:

One : Text messaging can also be automated to check in on documents or remind potential borrowers to follow up on a part of the process, and

Two : Text messaging can be personalized, allowing for direct conversations between a loan officer or manager, and a potential borrower, when application-specific conversations are necessary.

And, if you’re thinking, “I don’t know how messaging could be a part of my process…” Solutions by Text recently published a series surrounding this precise concern in stating: “Our two-way texting has been proven successful through many of our customers. As an introduction to two-way texting, we start our customers off with pre-written templates and individual training on how to use the tool.”

Being integrated with Solutions by Text, the FNI Blueprint LOS platform is ready to handle both types of conversations, immediately at launch.


Keeping Time and Saving (More Than) Dimes with Paperless

Lending Data Integration with Dealertrack for Auto Lenders

Though Dealertrack is an auto-specific solution, this applies to all lenders in all industries. Going paperless is an important part of an efficient and secure lending process. There are a number of paperless solutions that we walk through with new lending partners, not just in the automotive space. Going paperless streamlines the lending process, accelerating loan approvals and enabling faster funding for borrowers. And an electronic document storage and retrieval system can enhance efficiency by providing instant access to loan documents, eliminating the need to search through physical files. This saves time and improves productivity for lenders and their staff. If the scalability cost saving through efficiency isn’t striking, maybe this stat from a recent Dealertrack article will:

“Switching to digital processes can save you up to $65 per deal on average.” And $65 multiplied by hundreds or thousands (or even a few!) of applications daily starts to feel like a difficult number to ignore.


While we keep an eye on what’s coming next, and continue to stay educated and prepared to push the fintech industry forward, the loan origination software experts at FNI will keep providing insights and, of course, providing hands-on and high-level service to our loan origination platform partners. If you’re ready for direct acces

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