Fundingo:
Are you seeking a simple loan application? Here’s when it gets really interesting! Because every business has a complicated workflow, they arrive with questions and more inquiries for those who require a more personalized project. They propose CloudMyBiz, a Fundingo Certified Partner, for ongoing support.
Fundingo Loan Management Software includes strong built-in reports, dashboards, and alarms that provide total insight from loan origination to loan servicing and renewals. As a result, their efficiency, revenue, and profitability increase while risk decreases.
Why Fundingo?
Fundingo automates the whole process of non-bank lending business generating, underwriting, and servicing. On the Salesforce platform,
Fundingo assists alternative lending and interest-based loan enterprises in attracting and closing more deals, speeding up the underwriting process, generating more price alternatives, reducing errors, and ensuring more consistency.
Introduction:
They’re more than just a debt management platform at Fundingo. They’re experts motivated by their basic principles and inspired by technology. They strive for excellence, dedication, and going above and beyond as a collaborative. The following are their guiding principles, which enable them to grow their lending community.
- Year Founded: 6 Years ago
- Official Website: https://www.fundingo.com/
- Loyal Customers: 70+
- Customer Rating: 5*t
Their Products:
FUNDINGO Management Software assists you in making the finest business decisions.
1- Loan Origination Software
The FUNDINGO Loan Origination platform makes it simple to collect information from applicants, handle loan processing procedures, and keep deals moving forward. Collect information from candidates quickly and easily. Directly import data into Accounts, Contacts, and Opportunities. With precise pipeline tracking and collaboration solutions, manage submissions, offers, and contracts.
Finding the greatest finance sources and matching them with the right borrowers. Remove the paperwork and create loan origination fees quickly. The Submission Wizard automates what is often a time-consuming manual process by allowing consumers to send an offer to several lenders through email with required attachments.
- Collect data directly
- Efficiently manage accounts
- Identify the best funding sources
- Handle offers and contracts electronically
- Enter approved deals faster
- Configure the loan origination system
2- Loan Underwriting Software
The FUNDINGO Loan Underwriting Software makes it easier to review loan applications while also speeding up the process. You make better decisions faster and with less risk. Obtain credit reports, bank statements, and other forms of data quickly from various external sources. To improve your verification process, use their customer connectors with 3rd Party Data Sources.
There’s no need to look for emails, spreadsheets, or paper papers. You can quickly and accurately handle loans with a well-organized and centralized system. Use the Offer Wizard and Pricing Matrix to create pricing and term offers. Offers tailored to each borrower’s needs while also adhering to the lender’s regulations and policies. It’s smart and adaptable, so you may customize it to fit your needs.
3- Loan Servicing Software
FUNDINGO Loan Servicing Software allows you to be more efficient and charge your business. Paperwork, manual processing, erroneous reporting, and poor oversight must be eliminated. Improve renewal processes and ensure that recurring deals do not fall through the cracks. The Fundingo Loan Servicing Software simplifies the complicated aspects of loan servicing. Manage payments, automate fees, and expand revenue recognition possibilities.
Directly from underwriting, send all of the information needed to set up a loan for servicing. Stay on top of any discounts that are about to expire with detailed deal tracking and automated notifications. Pricing options make it simple to extend contract terms based on past performance.
- Eliminate Manual Data Entry
- Increase Renewals
- Simplify Complex Processes
4- Leverage Salesforce’s Proven Capabilities
FUNDINGO Loan Servicing Software allows you to be more efficient and charge your business. Paperwork, manual processing, erroneous reporting, and poor oversight must be eliminated. Improve renewal processes and ensure that recurring deals do not fall through the cracks. The Fundingo Loan Servicing Software simplifies the complicated aspects of loan servicing. Manage payments, automate fees, and expand revenue recognition possibilities.
- Inside sales
- Docusign
- Dropbox
- Hoopla
- Amazon web services
- Evernote
- Pardot
- Time Value Software
5- Configured to Fit Your Specific Needs
The FUNDINGO lending solution is backed by specialists familiar with the specific needs of alternative lenders. They’ve worked in a range of financing industries and understand your requirements.
FUNDINGO is a tried-and-true solution that can be implemented much more quickly than a “start-from-scratch” project. However, because they can modify the system to meet your business, you still get a scratch option with many benefits.
- Supported by Experts
- Regularly Updated
- Implemented Quickly
One size does not fit all in an effective Loan Management CRM that supports alternative lenders. They take the time to get to know each customer and learn about their requirements. They customize the solution to meet your specific requirements based on a foundation of proven capabilities. With their lending software, you receive the advantages of a cost-effective, tried-and-true core solution as well as the option of having it customized to meet your company’s specific needs.
6- Risk investigations
Fundingo on Salesforce AppExchange has a risk assessment and due diligence integration. Fundingo, a Salesforce AppExchange app, swiftly assesses your consumers, organizations, and third-party vendors to confirm their identities, investigate using proven solutions, and uncover any crucial links that could indicate danger.
Screening should be done as soon as possible at every stage of the customer’s lifecycle. LexisNexis is a single source for robust watch lists and sanctions data with updated screening technologies.
- Speed up customer onboarding
- Complete business due diligence
- Increase transparency across customer and vendor relationships
- Integrate robust risk intelligence into CRM workflows
- Centralize and simplify reporting
Fundingo Implementation Process:
1- Discuss tools, methods, and resources
Their experts get down with your company to learn about the tools and processes currently used to run your operations.
- High-level goals and recap of goals their client is looking to accomplish
- Setting your expectations of the project
- Tools being used between both teams for communication
2- Learn the details and develop a comprehensive understanding
Our team takes the time to learn about your company from all angles and grasp the precise requirements. The goal is to ensure that every contact point is met to create a smooth, seamless experience.
3- Deep dive into requirements and development
They provide a detailed breakdown of their project’s expected expenses and timetables to provide their users a complete picture of what to expect. They seek complete transparency and comprehension of the process for their client.
4- Client reviews and tests all elements of the system
Your team will go over the prepared checklist and approve the functionalities they’ve offered, acknowledging that they are solutions to your business’s requirements for a fully effective workflow.
5- Training plan development
Fundingo wants to ensure your team has everything they need to run a successful business. Data must be moved accurately and without interruption.
Fundingo can do all the hard lifting to ensure a smooth data transfer. Your team has the option of handling the migrations internally, and they can offer guidance on how to go about it.
6- System go-live
The system is migrated from the development environment to the production platform. To avoid disrupting the customer’s ongoing operations, deployments are usually scheduled for the weekend. When the customer returns at the beginning of the week, they should resume operations utilizing the new system.
Pros:
- Transfer all data from a loan application to the system directly. There is no need to enter data manually.
- Identify missing information quickly and ask the applicant for it.
- Ensure that loan applications are routed to the most qualified underwriters.
- Calculate and payout disbursements automatically. There is no need for manual processing.
- ACH processors can be used to schedule payments directly.
Cons:
- None to be found.
Pricing:
They have custom pricing depending on the project type.
For more pricing details, contact Fundingo through their contact page.
Contact Them:
- Phone:(213) 631-3977
- Email:info@fundingo.com
Final Words:
The FUNDINGO team was a delight to deal with throughout the design and build-out process. They have to coordinate with 6+ stakeholders on your side to ensure buy-in from their team. The project management strategy used by FUNDINGO kept you organized and ensured that each of those stakeholders had a say in the design. This was quite beneficial to the adoption process.
Their procedures and workflows are more efficient and effective. They can provide faster service to their customers and concentrate on the greatest deals. Their return on investment has skyrocketed. Their conversions were higher within weeks of deploying Fundingo, and they were delivering funds in record time. They have complete insight and control over their processes as a firm.
