At the core of it, providing a property loan for a lender business is a straightforward process. Check the client’s eligibility and loan documents, approve or deny the loan application, and act on the decision. Unfortunately, as the customer base grows, this otherwise simple operation gets more chaotic, especially for smaller companies that may be managing the loans on a spreadsheet for example. This is why most of the innovative companies turn to property loan portfolio management platforms to automate and streamline the process.
The key function of a property loan portfolio management system is to assist you in sorting out the incoming repayments. However, this is not all it has to offer. High quality platforms offer a plethora of scalable, customizable and modular components that allow companies to automate the process entirely.
As digital transformation is becoming a prevalent requirement in this competitive market, the company’s survival depends on adoption of this technology. And digital transformation requires a lot of research as well as a transformation strategy.
With the help of a good property loan portfolio management platform, you can automate the entirety of the loan lifecycle. How much automation is put in place is entirely up to you, but moving away from a spreadsheet management process is key to your growth. Some companies prefer to be assisted by the software rather than have it take over the process.
The functionality of loan portfolio management systems covers multiple aspects. Such would be the creation of new loans, processing of customer’s information, interest rate management, and collection automation. Additionally, most grant the lenders statements and reports.
If you have been looking for an SME loan system, you probably already know the market is brimming with different options. What you don’t want to happen is to invest in a property loan portfolio management system that does not entirely cover your needs. This is why we have created a list of 5 platforms that are the best for the automation of property loan management.
5 Top Platforms for Managing Your Property Loan Portfolio
Innovative and modern Hypercore.ai SME loan management system adapts to your needs to the fullest, for their values are rooted in the best customer experience. From loan lifecycle to risk management, this property loan portfolio management software gives you the freedom to shape the process into what your business requires. It does this by offering some features that other solutions often lack. For example, line of credit.
Additionally, it provides valuable insights that would be otherwise unavailable. Capital control being one of a few to list. The clean look of the dashboard makes it easy to navigate, allowing you to reap the full benefit of what the platform has to offer. In addition, their simple to follow onboarding gets you up and running in minutes - you can start working on the platform right after you sign up. This means you won’t be put on a hunt for hidden functions. That includes pricing - which is stated directly on the website. Finally, but not all, if you currently manage your loan portfolio in Excel, Hypercore will transfer your data for you into your portal making the migration a seamless experience.
If building an automation process sounds like a daunting experience, HES might be the loan management software you need. Machine learning and artificial intelligence can be difficult to set up if you have no prior experience with it. This lending platform comes with 20+ pre-built modules, taking the need of setting something up from scratch off your hands. Even if none of the said modules cover your needs, you can always request HES to build a custom module for your business and loan scheme.
Concise and straight-to-the-point are words that describe Scorto the best. It does not promise you the world nor dips into the rabbit hole of a long list of functions you may never use just to wow you. Instead, Scorto aims to, indeed, make your life in the digital age easier using cloud computing technology.
This SME loan management platform is very intuitive and easy to maintain. It relies on simple drag-drop and point & clicks user interfaces. It is not likely to require extra expenses for operational needs or changes.
At the first glance, Spotcap may not seem as a property loan portfolio management system that stands out from the crowd. The description of Spotcap LendSuite ticks all the boxes on the basic requirements checklist. However, it is rather modest in outlining what makes it unique.
Despite a humble approach to themselves, Spotcap lets others talk - and the feedback of businesses that have used this SME loan management platform speaks volumes. After all, The aim is to simplify the process. The last thing you want to do is to overcomplicate the software.
If the minimalistic approach of Scorto and Spotcap does not strike you as something that could work, check out ApPello’s digital loan management system. Unlike the previous two platforms, it is giving you extra tools to customize, such as a product catalog. Plethora of functions makes ApPello relevant for different sectors and different types of loans. It positions itself as a one-for-all solution.
With digital innovation being essential, it is important to choose your software wisely. And absolutely crucial within a highly competitive market such as property management. Managing your property loan portfolio effectively means no more Excel spreadsheets.
The right kind of software will save you hours of work and the possibility of human error. Successful digital transformations highly depend on relevant digital technologies and management tools working in tandem with business models.
Still unsure about what works best for you? Book a consultation with us.