Borrower application
The DLOS allows borrowers to submit their loan application online, which can include information such as personal details, income, and employment history.
Identity verification
The DLOS can verify the borrower's identity using electronic verification methods such as e-signatures and ID scanning.
Credit analysis
The DLOS can use the borrower's credit score, income, and employment history to determine their creditworthiness.
Underwriting
The DLOS can use the information provided by the borrower and credit analysis to automatically underwrite the loan, this can be done by using pre-configured rules, underwriting models, and decision engines.
Document generation
The DLOS can generate loan documents such as promissory notes and loan agreements, these documents can be generated in an automated way, and borrower can sign them electronically.
Approval and disbursal
Once the loan is approved, the DLOS can disburse the funds to the borrower's account.
Loan servicing
DLOS also includes features for loan servicing, this includes tasks such as payment tracking, loan amortization, and delinquency management.
Reporting and analytics
DLOS can provide reporting and analytics tools that allow financial institutions to track the performance of their loan portfolio, identify trends, and make data-driven decisions.
Integration
DLOS can integrate with other systems such as automated underwriting systems, electronic signature software, and CRM systems.
Security
DLOS are built with security in mind, this includes features such as encryption, user authentication, and access controls to protect sensitive information.
