How Axis Works
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.
- Leverage packaged campaigns-in-a-box for customer acquisition (emails, SMS/text messaging, banners, etc.)
- 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
