Cloud Lending Solutions, the industry’s only end-to-end lending solution built natively on the Salesforce.com platform, just tweeted its multiple product updates to its loan and marketplace solutions, empowering lenders to get to market faster and simplify and automate their loan processes to drive revenue growth.
“Strong consumer demand for agile lending solutions feeds into growth of the alternative lending industry,” said Darpan Saini, CTO of Cloud Lending Solutions. “At Cloud Lending Solutions, our goal is to constantly meet that demand by building new features and capabilities that enable our customers to innovate and deliver solutions for the diverse global needs of the alternative financing industry.”
New updates to CL Loan enable more flexibility and efficient loan cycle tracking. Features include:
- Definition of multiple loan parties. Now, lenders can more easily define multiple parties involved in the loan and track the clearing of back-dated payments.
- Diagnostic checks. Lenders can run diagnostic checks against fractionalized loans in addition to standard loans to check for consistency in the funds available in an investor’s account with the existing records, the sum of investor fund deposits, withdrawals, and investments in the investment order.
- Increased transparency and collaboration. Lenders can now define the percentage of fees to be shared with investors, new features also enable lenders to collaborate with aggregators and automate the commission structure and payouts to match their network.
Updates to the CL Marketplace API include:
- Flexible loan restructure. Marketplace lenders can now automatically update borrower requests for loan restructuring, e.g. payment tolerance, interest rate and rescheduling, directly to the database.
- Investment tracking. Lenders can now track the relationship of investment booking with a particular investment order.
- Cleared payments. With the Bank Statement Parser, payments are now created only when there are cleared payments in the loan account.