DigiFi Announces Launch of Next-Generation Digital Loan Origination System

NEW YORK, Sept. 13, 2017 /PRNewswire/ -- DigiFi, an enterprise financial technology company, announced today the launch of its cloud-based digital loan origination system ("LOS") for banks, credit unions and consumer finance companies.  DigiFi's next-generation LOS enables the automated online delivery of multiple consumer lending products through a single platform, driving better customer experiences and lower operating costs.

The future of consumer lending is moving online as consumer preferences rapidly shift toward digital interactions, however financial institutions face challenges in transitioning to digital lending.  "Bank innovation within lending has been slow, largely because the traditional loan origination systems that banks rely on were built for in-person lending and focus on manual workflow management," said Joshua Jersey, CEO of DigiFi.  "In contrast, DigiFi's next-generation system was built for the digital age, with a fully-automated online process and a comprehensive suite of digital capabilities."

DigiFi's proprietary technology was built over three years to digitizethe consumer lending process, offering consumers immediate feedback and funding from any device at any time.  The platform supports multiple products including Personal Loans, Credit Cards, Personal Line of Credit, and Student Loan Refinancing, and DigiFi is adding additional products, including Home Equity, Auto and Mortgages.

The company's digital LOS utilizes a sophisticated service-oriented architecture, whereby multiple products share underlying capabilities to ensure a consistent customer experience and operational simplicity.  These capabilities include a mobile-optimized application, rules-based underwriting engine, instant applicant verification, electronic document creation, automated customer communications and a comprehensive operations portal.  

The platform is highly configurable, empowering banks, credit unions and consumer finance companies to utilize their own risk models, documents and procedures.  "We have placed a strong emphasis on configurability, so that each bank can leverage its unique business rules and existing underwriting strategies," said Brad Vanderstarren, President.  The built-in configurability and cloud-based nature of the platform enables customers to launch their own digital lending solution in as little as 30 days.

About DigiFi
DigiFi provides next-generation loan origination systems to banks, credit unions and consumer finance companies.  DigiFi's cloud-based platform enables the automated online delivery of multiple consumer lending products through a single platform, driving better customer experiences and lower operating costs.  DigiFi was founded in 2014 and is based in New York, NY.  Learn more at digifi.io.

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SOURCE DigiFi, Inc.

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