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E-Lending


Optimizing The Internet Channel

      Company
      LOGO
Gen Y


Gen Y makes up 70 million or 20% of consumers
77% are on-line
 Raised in a world dominated by technology and
in...
The Rest Of The World




50% of LSI’s 35,000 monthly loan
  applications are web based!
Keys To Optimization


1. Provide an interactive and concise experience


2. Automatically populate member data


3. Give ...
The Result


 Additional revenue from existing and new members
that prefer to conduct their business on line.
Higher loa...
Application Functionality



Interactive, personalized experience
Pre-populated member information
Unique application p...
Online Decisioning


Single most important driver of pull through
rates
Applicants approved online are 3 times
more like...
System Integration


Data should seamlessly flow between
internet app and lender’s LOS
   Decreased labor costs
   Redu...
WebClose




Allows an approved member to engage a loan
officer in a real-time chat, 24/7
 Rate and payment options are ...
WebClose Process


Member applies for a loan and is approved online
 customized “screen pop” congratulates the member
 A...
WebClose Process
Non-automated Underwriting


Member applies and does not meet credit criteria for
an automated approval or automated decl...
WebReach


Greatly enhances the effectiveness of your e-lending
program
Willing members are contacted via phone after th...
WebReach Process


 Member submits application at credit union web site and indicates
that they would like to be contacte...
Optimal e-lending


                     Member




Application           Decision   Discussion
              TEXT
Bottom Line

More Ways to Reach Consumers = Greater Lending
Success!
LSI’s E-Lending program gives credit unions more cont...
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Optimizing E Lending

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Transcript of "Optimizing E Lending"

  1. 1. E-Lending Optimizing The Internet Channel Company LOGO
  2. 2. Gen Y Gen Y makes up 70 million or 20% of consumers 77% are on-line  Raised in a world dominated by technology and instant gratification ‘The wealth of information available in seconds from the Internet…have given Gen Y members the notion that if they do not get what they want from one source, they can immediately go to another.’ Insights NAS
  3. 3. The Rest Of The World 50% of LSI’s 35,000 monthly loan applications are web based!
  4. 4. Keys To Optimization 1. Provide an interactive and concise experience 2. Automatically populate member data 3. Give automated approvals 4. Present webchat functionality on approvals 5. Underwrite non-automated approvals immediately 6. Call all applicants that would like to be contacted
  5. 5. The Result  Additional revenue from existing and new members that prefer to conduct their business on line. Higher loan officer productivity as members complete the application  Better pull through and closing rates  Lower operating expenses  Improved cross-sales
  6. 6. Application Functionality Interactive, personalized experience Pre-populated member information Unique application path based on member loan type and purpose Streamlined to avoid unnecessary questions Robust enough to support online decisioning
  7. 7. Online Decisioning Single most important driver of pull through rates Applicants approved online are 3 times more likely to close loan Instant, credit-verified approvals lowers origination costs Over 55% of consumers indicate receiving an instant approval is important in lender selection* *Gomez Advisors
  8. 8. System Integration Data should seamlessly flow between internet app and lender’s LOS Decreased labor costs Reduced error rates Accelerated processing time
  9. 9. WebClose Allows an approved member to engage a loan officer in a real-time chat, 24/7  Rate and payment options are discussed  Payment protection coverage is sold  Loan closing information and dates are confirmed  member is “taken off the market” The
  10. 10. WebClose Process Member applies for a loan and is approved online  customized “screen pop” congratulates the member A on their approval and promotes the opportunity to engage in a web-chat to confirm loan terms  loan counselor presents loan terms and cross- LSI sells loan enhancements  Loan closing details are presented to member and immediately transmitted to credit union
  11. 11. WebClose Process
  12. 12. Non-automated Underwriting Member applies and does not meet credit criteria for an automated approval or automated decline Member receives a screen-pop indicating a loan officer is reviewing the application Simultaneously LSI underwriter receives notification that a loan is in the queue  Loan is approved based on lender’s additional criteria  Member is notified of approval in 10 minutes
  13. 13. WebReach Greatly enhances the effectiveness of your e-lending program Willing members are contacted via phone after they have submitted a loan application via your website This follow-up call enables our lending professionals to: confirm payments and terms cross-sell additional credit union products approve more loans by “building the loan”  up closing set thank members for applying Receive additional revenue from cross-sells and supplemental loans Differentiate yourself from the competition
  14. 14. WebReach Process  Member submits application at credit union web site and indicates that they would like to be contacted LSI loan officer receives the loan application and decisions the application using financial institution guidelines  loan officer contacts the member with an approval and cross- LSI sells additional products.  Loan officers work to “build the loan” on non-approved applications
  15. 15. Optimal e-lending Member Application Decision Discussion TEXT
  16. 16. Bottom Line More Ways to Reach Consumers = Greater Lending Success! LSI’s E-Lending program gives credit unions more contact options to secure loans online and improve lending efficiency and capabilities. Contact your account executive or lsisales@nlpc.com for more information.

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