Go through the stages of processing commercial loans seamlessly and ensure efficiency while nurturing relationships on the way by going digital with your operation using robust commercial loan software. Good thing you are here. This article features the top key players in this software category so learn more as you find yours here. 


13+ Commercial Loan Software

1. Abrigo

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Rating: 3.9/5

Price: Custom

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2. Finastra

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Rating: 4/5

Price: Custom

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3. FIS

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Rating: 4.3/5

Price: Custom

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4. Hyland

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Rating: 4.4/5

Price: $2500/Year

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5. Pega

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Rating: 4.3/5

Price: $200/Month

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6. LaserPro

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Rating: 4.5/5

Price: Custom

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7. Celent

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Rating: 4/5

Price: Custom

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8. Ncino

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Rating: 5/5

Price: Custom

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9. c-loans.com

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Rating: 4/5

Price: Custom

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10. Sopra Banking

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Rating: 3.7/5

Price: Custom

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11. BankPoint

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Rating: 5/5

Price: Custom

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12. Turnkey Lender

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Rating: 4̣8/5

Price: Custom

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13. Bryt

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Rating: 5/5

Price: $29/Month

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14. CreditOnline

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Rating: 5/5

Price: $900/Month

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What Is Commercial Loan Software?

Commercial loan software is the modern solution designed to provide financial institutions with agile and innovative solutions for overseeing the processes throughout the loan lifecycle. It integrates varying modules in a centralized platform, allowing you to better control and improve your management processes over your loan servicing operations. It has tools for documenting and recording essential data and has a database for storing documents.

With this commercial loan solution, you can also enhance your strategy for detecting fraud and reviewing risks. Also, it gathers data analytics and converts them into visual reports for deeper insights and provides digital tools for setting up a web portal to ensure smoother transactions on opening accounts and processing requests. 

Benefits

Using this software incorporates workflow automation in your activities, minimizing the effort you need to put in and reducing the resources necessary to go through manual and repetitive tasks. Also, with this, you can improve the accuracy of your processes and heighten your productivity, diminishing the possibilities of delays and complications.

Features

Singling out the digital solution to equip from the pages of results you can get back from the software market can be an overwhelming process. Despite that, it is a crucial step in developing and implementing your commercial loan strategy. That said, you should carefully deliberate your options by studying the essential components and getting to know the trends that make up an ideal commercial loan strategy. The features listed below are elements you should look into during your selection process:

  • Lead management tools
  • Credit analysis features
  • Fraud detection capabilities
  • Online payment gateways
  • CRM software integration
  • Artificial intelligence capabilities
  • Compliance management functionalities
  • Risk management tools
  • Document management functionalities
  • Powerful reporting features

Top 10 Commercial Loan Software

1. FIS

With this platform, you can use digital tools for mobile banking and a learning management system. They have 12.2 billion dollars in generated revenue and have employed 70,000 people.

2. Finastra

This end-to-end lending software has functionalities for opportunity tracking and contact management. They have 9,063 employees in their team and have a revenue of 1 billion dollars.

3. Pega

Pega is a CRM software with lead management features and allows integration with internal communication software. They have 5,776 employees and have 1.017 billion dollars in revenue.

4. Hyland

With this version control solution, you can streamline processes for document generation and compliance tracking. They have a revenue of 827.71 million dollars and have 2,200 people working for them.

5. Sopra Banking

Asset lifecycle management and loan origination tools are features you can use in this banking systems software. They have generated a revenue of 481.4 million dollars and have employed 3,320 people.

6. Abrigo

This digital solution has commercial account opening and loan decision capabilities. They have 218 million dollars in revenue and have 418 people on their team.

7. Ncino

Ncino is a digital solution that provides users with deposit account opening tools and a commercial loan origination system. They have 1,218 employees working for them and have 158.3 million dollars in revenue.

8. c-loans.com

Functionalities for loan application management and marketing are accessible in this commercial loan software. They have 20 million dollars in generated revenue and have 104 employees.

9. Celent

Celent has credit policy enforcement and collaterals capturing capabilities. They have a generated revenue of 7 million dollars and have 69 people in their team.

10. BankPoint

With LaserPro, you can simplify the complexities involved in transaction monitoring and corporate banking. They have over 5 million dollars in revenue and have 25 employees.

FAQs

What is a commercial loan?

A commercial loan is a transaction and a relationship between financial institutions and businesses. It involves the latter party taking out loans to generate funds for their startup and cover costs for expansion. This process usually involves a lengthy application process, and the amount to which corporate businesses can borrow varies from traditional loans.

What are essential tools for managing commercial loans?

Your relationship with your borrowers is a crucial factor in the effectiveness of your transaction. That said, it goes without saying that you should use a live chat platform and video conferencing tools to maintain secure and consistent communication with your clients, building trust and understanding. Also, you should secure a solution for electronic signature and integrate solutions with customer relationship management software to personalize the borrower experience.

What is commercial loan origination?

Commercial loan origination refers to the end-to-end process when borrowers submit their loan applications up to the stage where the lender disburses the funds. It is a complex procedure that you need to oversee carefully, and upon its last stages, involved parties can communicate and confirm the approval and the rejection of the loan.

Oversee your day-to-day processes while ensuring to satisfy the demands of your clients and capturing their interests by retaining their engagement to stay competitive and relevant in this competitive landscape. Get the tool that will help you traverse your journey to digitizing your commercial loan processes seamlessly by securing the best commercial loan software for you. 


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