Axis acts as an extension of the lending team and addresses challenges related to high underwriting costs, insufficient risk management resources, and staffing constraints.
Prospecting for borrowers
Provides access a broader market within your charter by being placed on Lendio’s Marketplace– America’s leading cloud-based lending enablement platform for SMB financing which has funded 350-thousand SMB loans worth $13B through its lending partners.
Analyzes customer bank transaction data and cash flows to identify missed opportunities for lending
Applies bank’s risk rules to prequalify a borrower
Generates a pre-qualified loan decision, including suggested maximum loan amount
Underwriting and compliance
Goes beyond basic reliance of credit scores to determine likelihood of repayment. Aggregates, reviews and validates information about the borrower and business through external sources of data
Conducts checks on borrower and business background, OFAC list check, bankruptcy, delinquency
System generates a “soft offer” (initial offer with range up to a discrete dollar amount) within 15 seconds of receiving the application.
Delivers an interactive borrower experience where they can configure the terms of the loan (amount size, duration and frequency)
Streamlines and automates processes to deliver a “hard offer”
Closing and boarding
Provide lenders with visibility to raw background data and also synthesized insights to help lenders review individual loans
Generate closing documents
Re-engagement and refinement
Delivers packaged campaigns-in-a-box for re-engaging customers for renewals (emails, SMS/text messaging, etc.)
Data insights regarding markets and trends that may be used to update and enhance risk policies