Lendstream reviews

A software I was looking for!

Pluspunten:

You are getting a lot value out of the price you are paying for it. It's a user-friendly system, which you can quickly understand how to work with. One of the features I particularly liked was the “notes” option. This allowed me to easily track the history and content of all contacts with the clients, including automatically generated notices, SMS, phone calls. This feature made it much easier to keep track of all the interactions with the clients.

Minpunten:

Interface can be too complex at some times. Took me awhile to know the way around.

User Friendly Software

Opmerkingen: From my experience it is a user friendly software that can be quickly mastered and can very well support both loan origination, loan service and more. Based on the available data, it can be used to generate a vast variety of different reports about existing client database and general tendencies. I must say that I miss the times when I was using this software at work.

Pluspunten:

I used this software in my previous working place for mortgage loan origination purposes. After the customer data were input into the system, the software created its conclusion and analyses depending on the criteria and requirements provided into the system. The programme provided results for compliance to the required lending criteria immediately, and it was able to generate different kinds of reports for various periods of time that were clear to understand, the information on them was easy to follow. In addition, each user could have access to different reports depending on their job role, and reports were available in different formats (pdf, excel) and in several languages (I used English, Latvian, Russian). The company could ask the software administrators to change the criteria set up according to the business requirements. This software was used for loan portfolio pledge as well.

Minpunten:

There was time needed to enter all required criteria, but as a user I did not experience any difficulties, because the entered information could be saved even if the application was not fully finished and one could return to it any time. I believe the biggest challenge is to decide what data to collect, but the good thing is that the software allows to supplement the criteria and the information when required, only I cannot comment on the administrative part of how easy that is, I only know that everything that was required was done.

Review of Lendstream IT loan origination software

Pluspunten:

Lendstream provided needed flexibility. Adoption and changes of current workflow to the required needs implemented smoothly. The manager of the company also guided our company through finding and making required integrations with third-party service providers.

Minpunten:

Additional functionality to end user accessed through self-service customer portal must be added.

Great product for loan origination

Opmerkingen: Great program and great development and support team!

Pluspunten:

I was one of the first Lendstream users and at the same time was like an intermediary between business management system users and development team. Many years later I can state with assurance that all new functionalities and modules has been added to the system in response to a real needs of front and back-office personnel, borrowers, affiliates and investors. Every tick-box, button, row or column has been added after many YES from different users. Lendstream is the true production software. Great team which supports the product.

Minpunten:

Complexity, but on the other hand lending business is not a trivial one, but once the system is set up it runs very smoothly

Lendstream Review by DMC

Opmerkingen: Very satisfied, the technology and people are very easy to work with and continuously improve our environment.

Pluspunten:

The software allows for excellent customer service as vital customer data is sourced and calculated in real time improving the customer experience and reducing cycle times and saving us a lot of money.

Minpunten:

The core system is very detailed with tables and rules that require reference materials.

Easy and powerful

Pluspunten:

Reports allowed investors to slice information according to various criteria, such as disbursement dates, loan types, property insurers, and many more. This was very useful when preparing and completing loan sales to investors. Delinquency Reports were also beneficial, as they kept track of loan repayments by providing amounts due, the number of days late, and a detailed breakdown of late amounts into penalties, interest, and principal. Additionally, these reports included information about previous contacts with the client, making them a great tool for improving loan repayment key indicators.

Minpunten:

Backend UI looks outdated. Looking forward to see it improved.

Very decent tool

Pluspunten:

Overall complexity of the product to encompass all minute intricacies and requirements of the Polish financial sector

Minpunten:

Steep learning curve. Challenge in making the product fit the requirements