Cloud Lending Solutions, the industry’s only end-to-end lending solution built natively on salesforce.com, today announced CL Originate, a next-generation online loan origination platform. CL Originate is a complete cloud-based loan origination and underwriting platform, designed to meet online lenders’ demand for automated and instantaneous loan processing and real-time complex document management.
Projected to grow to $300-500 billion by 2020, competitive advantage in the online lending market is a race to close loan applications quickly and accurately. To meet online lenders’ need to underwrite loan applications in seconds, CL Originate has integrated a powerful and completely configurable decision engine to its loan origination and underwriting platform. By integrating auto-decisioning capabilities, workflow and task management and third party integrations, CL Originate is able to automatically convert applications into contracts for servicing, enabling real-time six-click lending from application to funding.
“In today’s fiercely competitive lending space, lenders need to satisfy user demand for quick loans, provide new ways to validate credit worthiness, while continuously pushing out new products at scale,” said Snehal Fulzele, CEO of Cloud Lending Solutions. “CL Originate is designed with the needs of the next-generation lending community in mind. These new features simplify the lending process to as little as six clicks, dramatically changing the playing field.”
Ideally suited for online, marketplace and commercial lenders, as well as innovative traditional lenders, CL Originate allows lenders to meet complex scoring and pricing within minutes, including:
- Support for complex auto-decisioning – enabling fully automated credit scoring and automated pricing for real-time loan approvals.
- Six-click lending – at unmatched speed, CL Originate transforms the online loan origination process to enable six-click lending from application to funding.
- Real-time collaboration – via a new Deal Room, CL Originate enables a collaborative forum between all stakeholders to share documents, notifications and assignments
- Real-time deal status – the Deal Room manages documents and tasks and communicates an up-to-date status to stakeholders of outstanding tasks
- Third party integration –CL Originate can pull data from both traditional third party sources and newer alternative sources to determine credit scoring, ratings and pricing
- Complete configuration – CL Originate is completely configurable for easy, fast deployment and able to meet the most demanding auto-decisioning needs
- Pricing and Availability - CL Originate is now available, priced on a subscription basis.