Lokyata Announces Systems Integration with Infinity Software, Bringing Enhanced Loan Decision Capabilities to Lending Institutions
WASHINGTON, June 23, 2022–(BUSINESS WIRE)–Lokyataa company specializing in providing products that digitize, automate and adapt lenders’ credit decisions, announced that its real-time automated credit decision tool, BankAnalysisis now integrated into infinite software.
Infinity Software has been providing software solutions to direct-to-consumer lenders for 20 years and has enabled over 700 businesses to centralize their lending operations through a single platform. Infinity offers website design, optimized loan agreements, automated underwriting waterfalls, accurate localization, and a variety of consumer loan products. Its configurable loan product engine further helps clients maximize revenue with advanced accounting and reporting, an integrated collections suite, and anti-theft access controls.
Through API API integration with Lokyata, Infinity Software customers will have access to additional and valuable loan decision data and insights, including analysis of bank statements authorized by the customer, such as the average monthly net income; The minimum balance; Average monthly loan payments; and Notifications of Insufficient Funds (NSF). Additionally, lenders will be able to easily set up automatic funding and denial rules, further streamlining the loan decision process.
“Infinity has worked with hundreds of vendors to meet the needs of lenders in our space,” said Shannon Lee, chief product officer at Infinity. “Lokyata has proven to have a unique product that helps lenders better meet the needs of underserved borrowers and grow their business in a responsible and innovative way.”
“At Lokyata, we are always looking to work with market innovators and Infinity Software demonstrates the value of modern, scalable technology in an evolving lending ecosystem,” said Steve Bireley, CTO at Lokyata. “Increasingly, lenders are looking for ways to responsibly help more consumers access credit, and with tools such as BankAnalyze and Infinity Software’s platform, more lenders are successfully achieving this. objective.”
Infinity is the leading alternative credit lending LMS and has been serving the industry for 20 years. Lenders on the Infinity platform have the ability to automate day-to-day tasks such as loan underwriting, payment processing, and debt collection. Infinity offers a wide range of loan products, such as installment loans, lines of credit and short-term consumer loans. Authorized to work with state-registered lenders and tribal lenders, Infinity does business in the United States and Canada. Infinity is constantly innovating and improving to better pursue its mission of “giving lenders the freedom to grow”. For more information, visit www.infinitysoftware.com or email [email protected]
Lokyata’s global headquarters are in Washington DC with offices in Europe, India and Latin America to serve its global customer base of banks, non-bank financial companies, credit bureaus and fintech lenders. Lokyata’s deep experience in lending and credit risk, combined with a strong practice of data science, a pragmatic approach to data strategy, and a scalable AI-powered platform, deliver results. measurable in terms of increased loan approval rates, lower default rates and improved financial margins. For more information, visit www.lokyata.ai or email [email protected]
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220623005675/en/
Heather Mc Daniel