We all value simplification and tend to avoid complexities at all costs. And when it comes to the loan decision process, the same can be said. Loan processes can be difficult for even the most shrewd and judicious of lenders, which is why Sharetec offers Automated Lending to assist Credit Unions with making such critical decisions.

Sharetec’s Automated Lending tool - used in conjunction with Sharetec’s loan application - is considered by many to be the perfect tool for instituting and streamlining lending parameters and guidelines. The tool auto-generates loan approval or denial based on up to 11 pre-established and weighted criteria. As data relating to debt and income is recorded, factors including debt ratios and disposable income, are auto-calculated for the loan applicant and co-applicant.

Sharetec’s Risk-Based Pricing module can be incorporated into the Automated Lending tool to further simplify the decision process. Credit Unions using this automated pricing module can adjust a borrower’s interest rate based on risk level, using their own custom-created risk pricing adjustments which are auto-applied based on loan type. The customized pricing adjustments can be based on a singular factor such as credit score, to several factors, such as debt ratios, employment history and delinquency.

Thanks to Sharetec’s Automated Lending and Risk-Based Pricing, loan decisions are made easier - what Credit Union wouldn’t give that a big thumbs up?