There are hundreds of metrics out there to measure customer experience, even though we track many of them, here at LoanPro we are big on the NPS (Net Promoter Score). This a single metric that operates on a simple principle – If you enjoy using a product or service, you want to share it. The […]
Manual processes have been the norm across industries for decades. Finance and banking especially deal with extremely sensitive data, and, until recently, these industries relied heavily on manual processes to complete work accurately. Today, automation has become a buzzword within finance and banking. It makes sense — after all, automation solves inefficiencies, increases productivity, and […]
LoanPro Claims Premium Spot with a Two-Year Revenue Growth of 410% FARMINGTON, Utah, March 15, 2022 /PRNewswire/ — Inc. magazine today revealed that LoanPro is No. 21 on its third annual Inc. 5000 Regionals Rocky Mountain list, the most prestigious ranking of the fastest-growing private companies based in Colorado, Idaho, Montana, Nevada, Utah, and Wyoming. Between 2018 and 2020, these 60 private companies had an […]
FARMINGTON, Utah, March 1, 2022 /PRNewswire/ — LoanPro, a leader in loan servicing software, announced its partnership with Snap Finance, provider of fast, flexible, pay-over-time digital financing options. Snap will implement LoanPro’s loan management software to continue providing a wider array of payment options to retailers across the U.S. LoanPro’s API-based approach will provide Snap Finance with a single source of […]
Big banks typically lend $500,000+ to businesses seeking commercial loans. But these large loans are risky and complex, so they often entail lengthy credit risk evaluation processes and lots of paperwork. Furthermore, loan approval and the delivery of funds can take a long time, which can be problematic for small and medium-sized businesses (SMEs) that […]
The global management software market is expected to grow to USD 2.43 billion in the next few years. Driven by consumers who want quicker, better, and simplified processes, the loan servicing market relies on software solutions to address increasing expectations. Investing in the right loan management software can help respond to this consumer demand. It […]
Using loan servicing software can empower private lenders, credit unions, and other financial institutions to keep track of and collect debt more efficiently. However, these opportunities won’t come to fruition if you don’t know how to use the software correctly. It doesn’t matter how much better or more powerful the loan servicing software may be. […]
The Covid pandemic continues to have lasting effects on the consumer market. According to the Federal Reserve Bank of New York, consumer debt rose 2.1% in the second quarter of 2021, the biggest percentage in 7 ½ years. Debt consolidation platforms are growing rapidly as they fit the critical need of consumers, to get their […]
The 2008 financial crisis left the U.S. economy in shambles, and some of the biggest losers were lending departments. As a response to the crisis, the Federal Reserve cut interest rates to try and stimulate recovery, but this didn’t spur lending or economic activity as hoped. Bank lending finally started growing again in 2011 but […]
In the auto lending industry, numbers are everything. The more customers you lend to, the more revenue you can bring in. But, if you’re not working with a seamless loan management process, you’re never going to sustain a large number of borrowers, which means you’re not going to grow. The reality is that there are […]
