Smart technology delivers 40% boost in loan processing speed and efficiency.
Entech announced Anovaa, an independent subsidiary focused on loan origination platforms and services. The Anovaa Platform is a Software as a Service (SaaS) solution available for personal, student, education refinance and revolving credit loan products. Anovaa Originate™ is a turn-key loan origination ecosystem for white label lending business process outsourcing.
While digital transformation has immeasurably improved on-line and mobile lending, 72% of banks ranked back-office loan origination efficiency as their number one problem. Anovaa was launched specifically to overcome lending efficiency challenges by providing the right balance between user experience, back-office optimization, and risk reduction.
The Anovaa platform has a modern, open architecture that incorporates unique technologies to reduce fraud, automate credit applications, speed financial data collection and analysis, and lower credit risk. Intelligent automation and a flexible credit engine built into the Anovaa platform deliver efficiency improvements of over 40% and lower risks across the lending lifecycle.
Read More: Remitly Partners With Alipay to Offer International Remittances
Originate is Anovaa’s white-label solution for turn-key loan origination processing, call center operations, and customer services. Originate services are delivered by banking experts with a deep understanding of lending operational details that comes from their experience originating over $100 Billion in loans. Originate is full-service, end-to-end Business Process Outsourcing (BPO) solution, including development of loan programs, marketing, branded loan applications and documentation, set-up of credit policies, call center support and more.
“In an industry in the midst of disruption, the time is now to finally bring together a unified loan origination ecosystem that fulfills the promise of digital transformation by seamlessly intersecting customer enablement with back office operational efficiency,” said Jeffrey Milne, CEO of Anovaa.
Built on a modern architecture using scalable Application Programming Interfaces (API’s), Anovaa is also perfect for FinTechs and non-banks seeking to rapidly add lending to their product portfolios.
Read More: Kreditech Rebrands to Monedo as It Steps Up Growth in International Lending Markets
