TrustRadius Insights
TurnKey Lender has proven to be a valuable tool for businesses in the lending industry. The platform streamlines the loan cycle, making it …
Overview
What is TurnKey Lender?
TurnKey Lender is a cloud-based lending management software that provides online-lending automation, decision-making support, and borrower evaluation services. The software features an innovative AI-driven Decision Engine that utilizes deep neural networks and machine learning algorithms to automate...
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Get StartedProduct Demos
TurnKey Lender Enterprise Platform Demo for Business Lending
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TurnKey Lender GO - AI-Driven Lending Automation Made Easy
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How to use TurnKey Lender API Clients
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Borrower Portal Overview - Consumer Lending Automation in TurnKey Lender
YouTube
TurnKey Lender and RePay: Instant Disbursement and Repayment Capabilities - Step-by-Step Demo
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TurnKey Pay Later Demo - Enterprise Customer Financing Platform by TurnKey Lender
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Product Details
- About
- Competitors
- Tech Details
- Downloadables
What is TurnKey Lender?
TurnKey Lender is a cloud-based lending management software that provides online-lending automation, decision-making support, and borrower evaluation services. The software features an innovative AI-driven Decision Engine that utilizes deep neural networks and machine learning algorithms to automate credit scoring, enabling near-instant credit decisions in just 30 seconds. TurnKey Lender's modular structure allows additional modules to be added when needed.
TurnKey Lender is suitable for both consumer and commercial lenders, including traditional creditors, alternative finance providers, and embedded lenders. It has extremely intuitive interfaces for originators, underwriters, collateral managers, servicing managers as well as collectors. The software comes with a built-in credit risk management system with adjustable decision rules and integrated scoring which ensures precise credit risk assessment. Moreover, it automates all stages of the loan lifecycle from loan application processing and underwriting through to collection and portfolio reporting. Additionally; the solution is available on cloud or on-premise depending on your preference.
TurnKey Lender Features
- Supported: Borrower Portal
- Supported: Origination Module
- Supported: Underwriting and Decision-Making Module
- Supported: Loan Servicing Module
- Supported: Secured and Unsecured Loans (Collateral Module)
- Supported: Debt Collection Module
- Supported: Peer-to-Peer (P2P) Module
- Supported: Reports Module
TurnKey Lender Screenshots
TurnKey Lender Video
Loan Servicing Software focuses on automating post-disbursement loan activity including collections, amortization, collateral tracking, and customer service. This video compares TurnKey against two other competing tools in the space to share which type of tool is best for each use case.
TurnKey Lender Competitors
- Mambu
- nCino Bank Operating System
- Cloudlendinginc.com
TurnKey Lender Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | Apple iOS, Android, Windows Phone |
| Supported Countries | UK, Armenia, Kazakhstan, Spain, Ukraine, Ireland, USA, Canada, Czech, Columbia, Panama, France, Zimbabwe, Switzerland, Croatia, Mexico, Philippines, Ivory Coast, Singapore, Cambodia, Jamaica, Sweden, UAE, Australia, Poland, China, Bahamas, Norway, Brasil, Trinidad, Malaysia, Nigeria, Denmark, Vietnam, Indonesia, Kenya, Oman, Hong Kong, Senegal, and Zambia. |
| Supported Languages | Danish, English, French, Indonesian, Norwegian, Polish, Portuguese, Russian, Spanish, Swedish, Ukrainian, Vietnamese |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
- Recommendations
TurnKey Lender has proven to be a valuable tool for businesses in the lending industry. The platform streamlines the loan cycle, making it easier for lenders to evaluate risks and make informed decisions. One of the biggest benefits of TurnKey Lender is its user-friendly interface. It provides a logical format for data, simplifying the lending process and improving efficiency.
The platform’s automation and flexibility significantly reduce stress on staff due to systems not working. TurnKey Lender offers e-signature on loan documents, online applications, and other features that expedite the lending process. These features and functionalities have helped businesses save thousands of man-hours in processing loans, allowing them to focus more on customer service. With Turnkey Lender, businesses have been able to double their loan volumes without needing additional staff.
Another significant benefit of TurnKey Lender is its integration with ACH payments. The integration helps lenders reduce delinquency rates and notify retailers faster when they are pre-qualified. Additionally, the platform offers custom loan solutions which would not have been possible without the development expertise and quick turnaround provided by TurnKey Lender. Users have reported that this feature allows them to offer better customer service by meeting individual client needs more efficiently.
TurnKey Lender's versatility has made it useful outside of lending as well. A veterinary hospital has implemented the loan capture system using TurnKey Lender, demonstrating how it can be used across industries beyond finance. Overall, TurnKey Lender effectively solves business problems related to inefficient manual processes, slow turnaround times, high delinquency rates, inflexible offerings, limited scalability, and other roadblocks in providing quality customer service.
User-friendly interface: Reviewers have consistently praised TurnKey Lender for its user-friendly interface. Many users have stated that the platform is easy to navigate and complete tasks quickly, making it a highly efficient option for loan businesses.
Cloud-based accessibility: The cloud-based nature of TurnKey Lender has been noted by many reviewers as a major advantage. This feature allows users to access the software from anywhere with an internet connection, providing them with great flexibility and convenience.
Highly customizable: According to multiple reviews, one of the biggest advantages of TurnKey Lender is its highly customizable nature. Businesses can tailor their products and services to meet customer needs while also streamlining processes within the software itself.
Limited Customization: Some reviewers feel that TurnKey Lender's customization capability is limited out of the box.
Limited Reporting Capabilities: Several reviewers have mentioned that they found default portfolio exports to be limited, and the reporting page to be very restricted without any option to run various reports.
Poor Customer Support: A number of reviewers have expressed their dissatisfaction with technical help from TurnKey Lender, particularly when it comes to running ACH payments manually.
Users have provided the following recommendations based on their experiences with Turnkey:
- Prioritize thorough testing of the free version before migrating to avoid workflow disruptions.
- Plan ahead and address potential language barrier issues when collaborating with the dev team in Ukraine.
- Familiarize yourself with Turnkey's underwriting guidelines for optimal utilization.
Users highly recommend trying out Turnkey to assess its suitability for individual company needs, particularly for smaller businesses with limited budgets. They believe Turnkey is an excellent solution for businesses in the lending industry.