Powerful Loan Servicing Software

What Does a Loan Servicing System Do?

Loan servicing is an essential element of Biz Core’s end-to-end loan management software. Once the loan has been approved, the process of loan servicing begins.

Biz Core loan servicing software features include:

• End-to-end loan lifecycle management
• Loan book management
• Automated payment scheduling and processing
• Collections and write-offs
• Arrears management
• Reporting
• Data import/export
• Document management
• + more

Keep Track of Payments

The full history of failed, successful, and altered payments for each and every customer is at your fingertips with Biz Core. Not only is it easy to manage customer records, but you’ll also get a high-level data dashboard to easily keep control over your lending business.

You’ll be able to see:

• Outgoings
• Scheduled transactions
• Failed transactions
• Monthly claims
• Monthly rebates
• Monthly revenue
• Transactions by status
• + more

Track Customer Interactions

No matter how long the customer and loan have been active, you’ll be able to trace borrower contact history. Employees can quickly scan back through previous information and documents to provide fast, accurate service.

Biz Core comes with unlimited cloud-storage capabilities. So you’ll never run out of space. You can transition easily between high-level customer information and specific payment ledger data. So you’ll know exactly where information is whenever you need it.

Automate Notifications and Alerts

One of the best parts of loan servicing software is that you no longer have to manually mail notices to your customers. Instead, customised notifications will automatically be sent via SMS/email. That way you can keep customers informed with up-to-date information.

Examples of financial industry notifications you can automate:

• Successful payments
• Failed payments
• Overdue notices
• Collection letters
• Loan completion notifications

Data Security

Data security and risk management are non-negotiable when it comes to sensitive information used by lending platforms. Loan servicing software helps you to reduce risk and enhance your data security. By moving away from paper-based records and outdated servicing systems you’ll be keeping your data safe and secure.

Biz Core’s built-in data security and encryption from Azure mean that you can rest easy. Their state-of-the-art security provides-multilayered data protection to keep you and your customers safe. Real-time global cybersecurity intelligence is used to quickly identify and respond to new threats. With Biz Core, you’ll have the benefit of our comprehensive and reliable loan servicing software and the assurance of Azure’s advanced protection.