Keystroke slashes online lender costs.Keystroke key·stroke n. A stroke of a key, as on a word processor. key  stroke .com, a leading provider of online lending technology, has
developed a universal lending platform that enables financial companies
to reduce costs of loan processing by as much as half; speed the loan
application process; increase loan closure rates; and capture critical
customer data for cross marketing of financial products.
Dubbed dub 1 tr.v. dubbed, dub·bing, dubs 1. To tap lightly on the shoulder by way of conferring knighthood. 2. To honor with a new title or description. 3. "universal for its flexibility, the platform allows lenders to brand and offer dozens of customized loan products to consumers from a single website - from first mortgages and refinances to auto loans and credit cards. As lenders adopt the technology, more and more product options will greet a growing number of consumers shopping for loans online. "The future ease of securing loans on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the lies with the power of the next-generation of online decisioning and processing technology," said Keystroke.com CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Joe Hausauer. "We want to transform the traditional loan process for consumers by giving lenders the tools to brand a web-site and offer the best possible loan services on the Internet. The technology, while complex to meet the loan processing demands of the lender, simplifies the online loan experience for consumers. From a consumer perspective, a universal lending platform site appears under the identity of the lender. Users enter property data and answer a series of credit and income asset questions. The platform then uses this input to select the rates and the lending program best suited to the consumer's needs. The platform does not require personal information until users view available rates and request to continue the application process. The decisioning technology that creates those products is capable of pricing abstract criteria, opening the door to new types of online loan products. To ensure security and the highest level of customer service, the platform uses encrypted en·crypt tr.v. en·crypt·ed, en·crypt·ing, en·crypts 1. To put into code or cipher. 2. Computer Science data for customer confidentiality and makes contact readily available in real time, so that clients can talk with staff members at the lending institution Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in . Keystroke.com's technology also saves lenders money by reducing the amount of time and personnel required to originate o·rig·i·nate v. 1. To bring into being; create. 2. To come into being; start. loans and provide programming for the site. All document requests are handled electronically, and both the customer and the loan processor are prompted when key information is needed. Borrowers receive e-mail updates when the loan status changes, and they have the ability to check the status of their loan in real time using the lender's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. , as well as an identification number and password. In addition, the technology boosts a lender's capability to increase market share in other areas by generating a sophisticated database of information about customers. Lenders can use the universal platform's built-in database to create customized marketing programs for borrowers by referring them to other appropriate products from the lending institution. To enable an institution's wholesale customers to operate on a separate and secure website, Keystroke.com customized a special version of the universal lending platform. The technology makes it possible for brokers to receive interactive rate quotes, lock-in rates electronically, prequalify clients, download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. necessary documents and forms, view manuals online and find the right loan program for customers in the field. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion