How modern loan management software drives real results
Part 3 of the LMS essentials series
The business case for modern loan management software is proven by real lenders seeing real results. This is Part 3 of our LMS Essentials series, where we showcase the tangible impact of modern LMS through a variety of case studies and data:
- Part 1: What is a loan management system? A complete guide
- Part 2: How to evaluate and choose loan management software
- Part 3: How modern loan management software drives real results (you are here)
By now you know what loan management software is and what to look for when evaluating your options. The last question worth answering is the most practical one: what does a modern LMS actually do for lenders in the real world?
The honest answer is that results depend on where you are starting from and what you are trying to build. A startup launching a first-of-its-kind credit product has different needs than an established lender migrating off a legacy system. What stays consistent is the underlying pattern. Lenders who move to modern, configurable infrastructure tend to move faster, scale more efficiently, and spend less time working around their software.
The following case studies span consumer lenders, fintechs, nonprofits, and B2B lenders. Each one chose LoanPro for different reasons and achieved different outcomes. Read the ones most relevant to your situation.
Best Egg: New loan programs live in 60 days
Consumer lending | Personal loans, credit cards, secured products
Best Egg wanted to differentiate in a crowded personal lending market, but their legacy loan management system made innovation nearly impossible. After switching to LoanPro, they launched new loan programs in 60 days, something their COO called "absolutely unheard of before." Today Best Egg manages multiple loan products across a single platform and has earned a top-10 J.D. Power ranking for customer satisfaction among consumer lenders two years running.
Own.lease: From 0 to 30,000 customers in 12 months
Consumer leasing | Furniture, electronics, flexible lease-to-own
Own.lease launched in 2022 with a simple but ambitious idea: flexible leasing without credit requirements. Within 12 months of going live on LoanPro, they had grown to 30,000 customers, managed by a team of just five people. Founder Zack Vandenberg credits LoanPro's scalability for making that possible, noting that building a comparable solution in-house would have cost five times more and offered no guarantee of the same result.
"LoanPro was a bigger solution for where we started, but I am absolutely thrilled that I did not choose a lesser solution to be where I am today." Zack Vandenberg, Founder and CEO, Own.lease
Future Family: A new asset class, live in 4 months
Specialty lending | Fertility financing
Fertility financing is not a standard loan product. Families often do not know how much they will need upfront, treatment plans change, and the emotional stakes are high. Future Family needed a platform flexible enough to support a first-of-its-kind credit program, and every legacy system they evaluated fell short. After launching on LoanPro, they went from contract to live operations in four months, scaled from thousands of patients to tens of thousands, and earned a 4.6 rating on Trustpilot.
"It is an entirely different experience working with LoanPro. A great core technology platform, a highly collaborative experience, and the ability to customize certain features." Claire Tomkins, Founder and Executive Chair, Future Family
medZERO: Enterprise-scale efficiency without the enterprise headcount
Healthcare lending | 0% interest employee health financing
medZERO offers 0% interest, no-fee lending products that help employees afford healthcare without draining their savings. When evaluating whether to build their loan infrastructure in-house or buy, they chose LoanPro and have not looked back. Three years in, they have never needed to hire a single development resource for loan origination or servicing, and their VP of Operations describes implementation as feeling like LoanPro was an extension of their own team.
"Candidly, we don't have to think at all about our infrastructure. We'll engage in a five-minute conversation with LoanPro about best practices, and a couple weeks later, it's done." Ryan Murphy, VP of Operations, medZERO
UBIZ: Modernizing a mission-driven lending operation
Nonprofit lending | CDFI serving minority and disadvantaged businesses
UBIZ is a Community Development Financial Institution with a clear mission: expand access to capital for minority and disadvantaged businesses. Their legacy loan management system was getting in the way of that mission. Routine tasks were slow, issues took a week or more to resolve, and system breakdowns were a constant. After modernizing with LoanPro and Rapid Finance, UBIZ eliminated operational downtime, improved the borrower experience, and repositioned their team around what was possible rather than what was broken.
"Working with LoanPro and Rapid Finance reframed our perspective on business operations. We're not focused on what we can't do but rather what's possible." Alisa Bray, Director of Operations, Portfolio Management and Programs, UBIZ
Loot: Two loan products, one platform
B2B lending | Merchant cash advances and lines of credit
Loot helps businesses access working capital through merchant cash advances and lines of credit, two products with very different technical requirements. After a failed implementation with a competitor that could not support their MCA product, Loot found LoanPro and consolidated both products onto a single platform. For CEO John Cain, the experience changed his entire philosophy on building versus buying software infrastructure.
"We only build when we absolutely have to so we can focus on creating differentiating functionality." John Cain, CEO, Loot
Frequently asked questions
Who else uses LoanPro?
SoFi, Chime, Dave, Intuit, and WaFd Bank all use LoanPro to power their lending operations, along with 600+ other lenders managing consumer, auto, business, and specialty credit portfolios. The common thread across all of them is a need for a platform that can scale without sacrificing flexibility or configurability.
Is modern loan management software only for large lenders?
No. LoanPro works for lenders at various stages, though it is built for those with serious growth ambitions. Several customers in this list started small and scaled significantly on the platform.
How do lenders know when it's time to switch loan management software?
A few signs show up consistently: manual workarounds are eating into servicing time, launching new products takes months, and every platform change requires a vendor development request. If that sounds familiar, it is worth exploring what a modern system could do for your operation.
What loan management software does SoFi use?
SoFi uses LoanPro.
What would your results look like?
The lenders in this guide came to LoanPro at different stages and for different reasons. What they have in common is a need for infrastructure that could keep up with their ambitions. If you are evaluating your options, we would love to show you what that looks like for your specific operation.
Continue reading: LMS Essentials series
- Part 1: What is a loan management system? A complete guide
- Part 2: How to evaluate and choose loan management software
- Part 3: How modern loan management software drives real results (you are here)
