The traditional model of lending

is heavily reliant on old technology.

The traditional model of lending

is heavily reliant on old technology.

Financial institutions

have loan origination software (LOS) systems to process loan applications. These systems usually just provide a Yes/ No answer, though. If the answer looks like a No, bankers and underwriters may try to figure out a solution themselves.

All that data entry and manual calculation can create delays and opportunities for error. In the meantime, applicants have little to no visibility into the process. All they can do is bite their nails and wait.

Applicants are put off and confused by long, opaque approval processes.

Can you
blame them?

When they buy a computer online, they know in minutes if they’re approved for financing. Getting a mortgage or a consumer loan shouldn’t be such a hassle.

The Affordit® algorithm does the number-crunching quickly and efficiently. Financial institutions and applicants alike get the answer almost immediately, thanks to the magic of grid computing.

Affordit leverages two key components:

WALLET GENIE – AI that runs hundreds of thousands of simulations to analyze the best scenarios for the applicant’s financial situation

SOLUTIONS BASED OUTCOME – A report that shows the applicant a clear, easy-to-understand picture of their financial wellness. The applicant can see exactly how the Wallet Genie’s recommendations would improve their situation. The Solutions Based Outcome is based on that applicant’s unique data, not generic averages.

These added benefits make Affordit an easy choice:

Zero Downtime

Data is accessible anytime with the Affordit AWS (Amazon Web Services) cloud solution. Data is securely stored and backed up real-time with built-in encryption.

Data Security

The Affordit cloud solution uses AWS CloudHSM which has FIPS 140-2 Level 3 validated HSMs and Affordit has integrated a MD5 hashing algorithm for password encryption. Our system has been designed for 99.99% durability.

Turnkey Solution

Affordit offers an API plugin that seamlessly connects to existing loan origination platforms. For those who want to try our service without committing to a full implementation, we also offer a web application that requires no setup time.

Zero Downtime

Data is accessible anytime with the Affordit AWS (Amazon Web Services) cloud solution. Data is securely stored and backed up real-time with built-in encryption.

Data Security

The Affordit cloud solution uses AWS CloudHSM which has FIPS 140-2 Level 3 validated HSMs and Affordit has integrated a MD5 hashing algorithm for password encryption. Our system has been designed for 99.99% durability.

Turnkey Solution

Affordit offers an API plugin that seamlessly connects to existing loan origination platforms. For those who want to try our service without committing to a full implementation, we also offer a web application that requires no setup time.

Intrigued?

Learn more about our innovative products.
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