bankingciooutlook

Onyx IQ To Offer A Comprehensive Alternative Lending Platform

Banking CIO Outlook | Thursday, July 14, 2022

Onyx IQ's End-to-End Alternative Lending Platform is now available to the general public.

FREMONT, CA: Lending management assists in automating the entirety of the loan lifecycle. Depending on the needs, these programs can provide partial or complete assistance. The program can facilitate the processing of consumer data, the creation of new loans, and more. Onyx IQ has come up with its alternative lending software that is data-driven. The cloud-based lending platform is poised to revolutionize the SME lending industry by facilitating the transition from cumbersome legacy loan management systems to best-in-class agile technology. Onyx IQ enables alternative lenders to manage their whole lending operation more efficiently by providing a single platform to monitor all critical processes.

"As a fintech company with specialist industry experience, we're focused on giving small business lenders the tools to revolutionize the way they work," states Elizabeth Schuerman, VP of Sales at Onyx IQ. "Lenders will start achieving better results, faster, with processes that traditionally take days now being actioned in a matter of clicks. We're delighted to be able to help small business lenders grow and scale, and look forward to transforming the SME lending industry with a full-service platform that automates and enhances key elements of the lending process."

The platform enables lenders and funders to optimize their lending workflows, speeding the screening and decision-making processes they rely on intelligently to limit risk and close deals. Comprehensive lending automation affords lenders the speed and efficiency to circumvent the bottlenecks typical of outdated systems.

Stakeholders in small business loans, including firm owners, partners, and C-level executives, will witness a deluge of benefits as their teams work smarter, quicker, and more efficiently. From underwriting through collections, the Onyx IQ platform simplifies day-to-day activities and helps businesses save substantial amounts of time and money.

Through collaborative, end-to-end process management, Onyx IQ minimizes complexity, eliminates repetitive activities, and more effectively allocates lending resources.

Onyx IQ's cloud-based lending software can be tailored to match the particular operational needs of each SME lender, allowing all lending activities to be quickly and securely handled on a single platform.

It also offers an industry-leading feature set, including prebuilt procedures for underwriting, customizable scorecards, collection communication templates, automatic updates of syndicated funds, and real-time performance data. All facets of the loan process are completed by pre-integration with the whole ecosystem of partners required by an SME lender. Onyx IQ collaborates with industry leaders to provide its users superior service and functionality. Lastly, an active product roadmap ensures that SME lenders can easily take advantage of the most recent innovations and integrations.

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