Onboarding applicants who intend to consolidate their debts is a long process that requires lenders to interact several times with the applicants to gather information and necessary documents.
Lenders can smoothen this process for them but also for applicants by using Algoan Chatbot that helps lenders automatically gather the needed information and documents from applicants.
It also allows them to collect the applicant’s consent in order to be able to access its bank transactional data thanks to Open banking.
Algoan Chatbot credit journey incorporates Open banking data aggregation, KYC and electronic signature technologies to ensure a streamlined debt consolidation application journey.
Algoan Credit Insights is a solution that helps lenders and brokers get all the data that matters within a few seconds thanks to Open banking.
Algoan Credit Insights automatically categorizes the applicant’s transactional data.
It also gives insights on the financial situation of the applicant by automatically calculating metrics such as the residual income and the debt-to-income ratio.
It also detects and tags some important risk markers such as credit line drawdowns, payment incidents, overdrafts, gambling behavior and seizures on bank accounts.
Algoan Dashboard helps lenders and brokers in the process of decision making while reducing the risk.
Algoan Dashboard is customizable and helps debt consolidation players in the process of analyzing an applicant’s situation.
It automatically shows all the ongoing loans that an applicant has with the details about each loan (monthly payments, dates of the payments, payment default, lenders, etc.) in order to help you easily assess the situation and find suitable financing options.