Diversifying with Installment Loans:
Elements Critical to Success

Installment Loans

TranDotCom SOlutions: Your installment loan software Partner

Successful lenders have one thing in common: they are entrepreneurs who don’t hesitate to explore new loan products that could lead to significant, profitable opportunities. Changes in regulatory requirements, increased lending competition, changing customer preference and economic fluctuations can all be catalysts for seeking new loan products.  Finding a software partner providing loan product flexibility is essential in an ever-changing industry.

One popular product lenders regularly turn to is installment lending.  Why should you consider installment loans as a part of your lending portfolio?  Installment lending appeals to a broader consumer set, which expands your target market and lengthens your “good customer” relationships. As permitted by regulations, consumer fee options are extremely flexible. Repayments can be tied to a monthly cycle or linked to the consumer’s pay dates.  There are many good reasons to consider diversifying into installment lending, and finding the right software partner becomes one of the most critical decisions you can make.

Lending businesses offering installment loans deal with unique challenges and issues.  You should therefore expect your software provider to not only understand those challenges, but to also have answers to your toughest questions. Your software partner should know as much about the lending industry as they do about their technology. As a lender, you need to be concerned about the following four factors when evaluating installment software options:

  • Loan product and lending model flexibility – how quickly can you change loan products or lending models?
  • Ability to analyze your data with innovative and industry-leading analytics
  • Maximum data security (protect your most valuable asset – your data)
  • Depth of experience in both the lending and the technology industries

TranDotCom: Providing the industry’s leading installment loan software

As more and more lenders look to diversify their lending product portfolio to include installment loans, depth of experience becomes a critical factor.  In a changing regulatory environment, industry experience becomes even more important.  With more than a decade of experience working with hundreds of online and storefront lenders, only TranDotCom provides all of the following:

  • More lending model flexibility than any other software provider including:
    • Texas CAB/CSO lending model
    • Choice-of-law lending model
    • Tribal lending model
    • International/offshore lending model
  • Loan product flexibility (short-term, line of credit, installment and title lending products)
  • The industry’s most flexible webservices API options providing easy data import/export into the system
  • A unique replicated database option providing easy, real-time data access for lenders
  • The highest level of data security compliance in the industry: PCI Level 1 security
  • The deepest industry experience including customer support employees averaging 7 years’ experience
  • Industry-leading customer training focusing on best practices and CSR ease-of-use
  • The broadest customer base including online lenders, storefronts and large, public companies
  • Valuable best practices guidance based on a history of success working with hundreds of online & storefront lenders.

Focus on your lending, Not your software

Worried about the quality and capability of your software?  Concerned your current software is only a short-term fix that won’t help you grow?  Looking for a “partner” providing innovative solutions and industry best-practices guidance versus just another vendor?  Instead of focusing on your software, you should be focusing on your lending business.  Working with TranDotCom will give you a competitive advantage as TranDotCom has been perfecting industry best practices since 2000.  With industry-leading CSR training, analytics and data accessibility when you need it, TranDotCom offers new and existing lenders our premier Installment software to help them improve both profitability and risk diversification.

As the market and regulatory environment changes, you want a proven partner with the most innovative technology suite and the most responsive customer support.  Only TranDotCom can offer such a wide array of benefits to its growing customer base.

If you are looking to get into the installment lending business, take the next step now and CALL US TODAY at 866-735-6862 or email us at sales@tdcemail.com to discuss your requirements.