January 14, 2015

RETAIL Loan Servicing Software

RETAIL Loan Servicing Software for Banks, Credit Unions, Auto Dealers, and Finance Companies

Shaw’s fully integrated retail loan servicing software is your all-in-one solution for consumer lending. Think of it as one-stop shopping. Using our Service-Oriented Architecture and browser-based interface means that your institution no longer needs to have multiple software packages. Nor do you need manual processes in order to support your retail credit function. All aspects of your retail loan servicing, including auto finance servicing, are safely and efficiently automated.

Our retail loan servicing software integrates seamlessly with all of our other modules.  It can then reduce risky communications with separate systems. An enterprise solution means you are not boxed in. We partner with a third-party to provide origination so everything is taken care of for you. By using web services, your existing systems can leverage data through customer portals like online banking where real-time information is needed.

Our retail loan servicing software for banks, credit unions, auto dealers, FinTech, and other finance companies has proven functionality and offers exceptional quality. We’ve partnered with top financial services companies to ensure they have the features and functionality to stay competitive in the marketplace.

The benefits of a single retail loan servicing software system solution are many:

  • One repository for your data
  • Minimal interfacing of this critical data between systems
  • Less movement of your customers’ personal information means less risk and fewer headaches
  • Fewer systems and processes to support means lower staffing requirements and reduced resource expenses
  • Highly configurable
  • Variety of user interface, data storage, hardware, and deployment options
  • Utilize encryption and queuing

Updates to Our Software

Enhanced overpayment processing – This enhancement provides for automatically posting of a payment to a loan account and posting the payment as an overpayment, which is automatically disbursed back to the customer. Check payments can be made on loans that have already been closed. This enhancement allows the file adapter to post these transactions by automatically re-opening the loan and posting the transaction in order to avoid manual transaction entry. This modification is applicable to RETAIL loans.

Enhanced promotional pricing functionality – Expanded functionality was added to the current implemented Rate Promotion process. This expansion encompasses additional fields on the loan to provide more transparency of the accrual rates during the promotion period and additional processing for accounts that become delinquent or SCRA-eligible during the promotion period.

Service fee criteria moved from the process control to the loan level – To accommodate greater flexibility with service fee functionality, the Service Fee Computation Method and the Service Fee Percentage were moved from the process control level to the loan. This allows service fee assessment criteria to be loaded at the loan level instead of defaulting from a process control at boarding.

Get loan details web service – This web service requires the account number as input. Our RETAIL loan servicing software looks up the account and creates a transaction against the loan. The transaction is marked as an internal transaction; therefore the transaction will not show on the account summary but is still available for online searches and saved to the database. The transaction is marked to send an outbound message via Rabbit MQ and the full loan detail information is available for the message.

Have questions or want to learn more about loan servicing? To learn more about our loan servicing solutions, call 713.782.7730 or email solutions@shawsystems.com.

 

 

 
 

Centralized Customer and Account Data

Centralized Collateral Management

Relational, Data-Driven Architecture

Customizable Screens

Line of Credit

Home Equity Line of Credit (HELOC)

Escrow Accounting

Securitization

Collateral Processing

Charge-Off Processing

Enhanced ACH Processing

Dealer/Indirect Processing

Meet the Product Manager

Retail Loan Servicing Software Product manager
Courtney Moses
Vice President RETAIL Product Manager

After graduating from the University of Richmond with a degree in Math and Computer Science, Courtney joined Shaw Systems in September 1985 as a developer supporting RETAIL product maintenance and enhancements. By 1992 she moved from programming to the role of Senior Systems Representative and became instrumental to RETAIL in the areas of business analysis, client support, and training. These new responsibilities placed her in a unique position to actively engage with clients to solve real-world operational needs. In 1997 Courtney assumed the responsibilities of Product Manager of RETAIL, overseeing all daily support, maintenance, product development, and product direction. Promoted to Vice President in 2004, she augmented her responsibilities by overseeing all product development and direction for the Spectrum RETAIL and Spectrum Floor Plan product suites.