Academy

Digital lending course: transforming your lending business with automation

Advancements in tech have had a major impact on the financial industry. One of the most critical aspects driving the financial sector is lending. It’s gone digital and is now more convenient and accessible for both lenders and borrowers than ever before.

Together with TurnKey Lender, a company that specializes in digital lending, we’ve prepared a special digital lending course that will help you digitize and automate your organization’s lending practices using automation technology.

What is digital lending and how does it change the financial industry?

The lending process is made up of a number of steps.

It begins with onboarding a borrower through various sales channels. After that, information about the borrower (their identity, financial history, income, etc.) is collected. Performing the previous step diligently is crucial and, in the industry, is known as Know Your Customer (KYC). Once the lender has collected all the required information, they have to decide whether they will loan to the customer or not, the amount of the loan if yes, the interest rate, and the time period to repay. This is called underwriting. After a loan is disbursed, the borrower is supposed to make periodic and timely payments to repay the loan and interest rate. If the borrower defaults (does not repay), the lender may have the authority to recover the loan by taking over the borrower’s assets, but this is not always the case.

Digital lending helps eliminate the need for paper in the steps mentioned above and uses electronic means instead. For example, banks sell home loans, auto loans, personal loans, and credit cards through digital channels such as email, Facebook, Google, etc.

The most obvious achievement of digital lending is how the customer underwriting process is completely automated by a machine or an algorithm that crunches this data, learns from its own underwriting history, and uses this knowledge to arrive at a final lending conclusion.

Thus, the automated lending process speeds up loan decisions, helps achieve consistency in lending decisions, complies with federal, state, and local regulations, and applies analytics for process improvement and portfolio profitability.

This is exactly what TurnKey Lender specializes in. And that’s why we believe it is so important to have insider knowledge into digital lending right from the source.

What does the TurnKey digital lending course have to offer?

The course covers the ins and outs of digital lending and explains its benefits, types, and services. It will guide you through the process of automating the entire lending process, from loan origination to regulatory compliance.

You’ll also discover how TurnKey Lender delivers a seamless digital lending experience, as well as the role Artificial Intelligence and Machine Learning play in the process.

What exactly will you learn from this digital finance course?

  • How TurnKey Lender automates the key lending steps for increasing business productivity, reducing credit risk, lowering operational costs, and eliminating human error. 
  • How to customize functionality and simplify credit processes using integrations with real-life examples of businesses that went digital using TurnKey Lender.

We recommend this course to all users who are actively engaged in the financial industry and are interested in enhancing their lending processes.

What you will learn from the digital finance course

Passing our free digital finance course will provide you with an in-depth knowledge of the following concepts:

  • The value digital lending brings to your business, the benefits of lending process automation, and the statistics driving success in today’s digital transformation of the current lending process
  • How automated lending processes can solve your customers’ pain points
  • How Artificial Intelligence evaluates risk and streamlines auto-decisioning for loan applications
  • Why in-house financing is the wave to ride into 2021
  • How to automate lending processes step by step
  • What the bottlenecks in traditional lending are and how to solve them
  • How to streamline the customer experience through digital transformation
  • Why API integrations are vital for your digital lending operation

With the airSlate Academy and its digital lending course, you have everything you need to earn your digital finance certification and show off the skills you gain. Enroll for free and take your career to the next level.

Automate financial processes with airSlate

With the right business automation platform, you can automate your working processes, save time, money, and hassle from previously inefficient operations. For example, airSlate allows you to configure and automate any business process and integrate it into multiple systems of record without writing a single line of code.

airSlate provides you with a Flow Library where you can choose the category you need and pick a ready-to-use configurable Flow. For example, you can choose the Budget Approval Flow to automate and speed up the approval process for funding company initiatives.

It allows you to:

  • Make the procedure of completion and approval transparent. 
  • Utilize clear and straightforward Flow Templates.
  • Keep everyone involved aware of document details and their changes.
  • Set a signing order for an Approval form to go from one recipient to another automatically.
  • Check the status of your document cycle in detail.

 

Automating financial processes with airSlate makes creating, negotiating, sharing, and storing important documents without the need to manually repeat routine actions a reality.

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