VantageILM Creates Platform to Simplify Lending Process
PASADENA, Calif. — VantageILM announced it has designed an integrated management platform to allow lenders to manage the entire life of a loan and all operations in one central system. Officials said the platform was created to handle all types of loans and leases, including auto, equipment, unsecured, mortgage and short-term.
Moreover, executives said the company has the ability to address the intricacies and nuances of managing subprime and prime loans and portfolios for the term of a loan.
Executives went on to explain that the system brings together origination, servicing, collections, recovery management, asset management, document management, analytics and accounting in the platform.
The company was built by finance experts, and the current management consists of seasoned former bankers, investment bankers, business process experts and technology developers.
The platform was built on Microsoft technology so users can gather information from data providers, such as credit bureaus, valuation services, identity verification, payment processors and others, in the system, officials pointed out.
Additionally, officials said the platform has built-in performance dashboards, a reporting engine and analytics for all system data points to allow users to get a full view of their operations, which can ultimately lead to improved profitability, lower loss ratios and more efficient operations.
"We have proof that VantageILM's open-system technology and transparent straight-through processing improves business processes, efficiency and profitability," explained Robert Yuan, president of VantageILM.
"One client has quadrupled its portfolio and increased profitability with adding only one additional back-office staff member," he continued.
Discussing the company's platform, officials said, "VantageILM gives underwriters the power to make the optimal decision from comprehensive portfolio performance and market knowledge. Processes built into the system ensure all steps are completed before a loan is approved and booked."
Among other features, executives went on to highlight, "VantageILM assists with analysis and risk management by allowing users to slice and dice data from any part of the system to create profiles and models for portfolio management and underwriting.
"When different systems are used for origination, collections and recovery, analysis can be an extremely time-consuming process because the data must be ‘cleaned' and cross-checked to ensure that the analysis will be accurate," they continued.
"VantageILM, which completely eliminates the ‘data-scrubbing' process, enables users to see a vast array of data with just a few clicks of the mouse. Analysis features include Online Analytical Process, with customizable templates that save time and increase the potential scope of data for analysis and decision-making and static-pool analysis that allows greater flexibility and prevents date data skew," officials said.
According to the company, the platform offers:
—Centralized notes to provide easy access to all information on any loan and improve communication
—Role-level access to make sure the right people have access to the correct data and help prevent fraud
—Single-screen data summaries to allow employees to be more productive
—Online electronic document management to provide immediate access to all documents related to a loan
—Company-wide, portfolio-level, department level and loan-status reporting to offer a comprehensive management tool for measuring and monitoring operational and financial performance
—System-wide rules and checklists to prevent processes and steps from being bypassed
For more information, visit www.vantageilm.com, or call (626) 737-6880.