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Our vision is to revolutionize and automate the loan servicing workflow of the global financial community.
Top 6 Advantages of Shaw’s Loan Management Software
Managing loans efficiently is vital for businesses. Loan management software is a powerful tool offering numerous advantages that streamline how loans are processed, monitored, and serviced. Below are the top six advantages of Shaw’s loan management software and how it can benefit lenders and borrowers. Enhanced Efficiency and Automation
Loan management software automates repetitive and time-consuming tasks. This significantly reduces the need for manual intervention, minimizes errors, and increases operational efficiency. Automating workflows allows lenders to process loans quickly, which enables faster disbursements. This all leads to improved customer satisfaction.
Shaw’s loan management software includes many industry-specific, multi-step processes that are completely automated. Such efficiency gains demonstrate Shaw’s decades of experience in the lending industries we service and the multiple generations of software we have developed.
Improved Compliance and Risk Management
Our software helps ensure that lenders adhere to legal requirements. It provides the ability to build compliance checks, document management, and audit trails to streamline regulatory processes. Lenders can use our tools to evaluate borrower behavior, monitor loan performance, and identify potential risks promptly. Our software helps lenders mitigate losses and maintain a healthy loan portfolio.
Shaw considers changing regulatory landscapes and allows you to remain compliant through user-directed configuration changes. Making compliance changes a configurable item allows our clients to treat regulations as they interpret them. It shows auditors how security and treatment are managed in the systems.
Real-time Monitoring and Reporting
Shaw’s loan management software offers real-time monitoring capabilities. It provides lenders with up-to-date information on loan statuses, payments, and outstanding balances. Lenders can generate customizable reports and gain valuable insights into loan portfolios. Accurate data enables lenders to make informed decisions and implement strategies to optimize loan performance.
Access to real-time data can provide an understanding of the performance of various servicing strategies. For example, see how a strategy designed to take advantage of the end of the month works compared to a strategy designed to focus on late-stage delinquency.
Shaw can offer access to a Near-Real-Time database that mirrors your Production database. This data can be used for advanced analytics or copied to your enterprise data warehouse for real-time querying.
Seamless Customer Experience
Borrowers expect a seamless, user-friendly experience from beginning to end. Our software empowers lenders to provide just that. Our system’s API-first architecture allows our borrowers to connect to their borrowers using the vendors of their choice. Our partners providing payment methods and omni-channel communications to borrowers can provide the loan servicing data from our system in real time.
Scalability and Flexibility
Loan management needs to handle more complex servicing as a lender grows. Shaw's software offers scalability and flexibility to adapt to changing business requirements. It can handle an unlimited volume of loans, multiple loan types, and different payment plans. Lenders can customize the software to match their specific workflows and integrate it with existing systems.
Today, Shaw services clients with several thousand loans and many with several million borrowers. The technology infrastructure that supports our Azure Cloud offering allows us to host and support an enormous range of account volumes and processing done by our clients.
Cost Savings
Implementing Shaw’s loan management software can be a huge cost savings to a lender. By automating tasks and reducing manual errors, lenders can lower operational expenses and improve productivity. Lenders who streamline their processes can instead focus on strategic initiatives.
Shaw's software empowers lenders to manage their loan portfolios effectively while ensuring compliance, continued growth, and good borrower experience.
If you'd like to learn more about our loan servicing software, or how we can help you, email us at solutions@shawsystems.com.