Online personal loan lender

Keystroke.com, a leading provider of online lending technology, has developed a universal lending platform that enables financial companies to reduce costs of loan processing by as much as half; speed the loan application process; increase loan closure rates; and capture critical customer data for cross marketing of financial products.

Dubbed "universal for its flexibility, the platform allows lenders to brand and offer dozens of customized loan products to consumers from a single website - from first mortgages and refinances to auto loans and credit cards. As lenders adopt the technology, more and more product options will greet a growing number of consumers shopping for loans online.

"The future ease of securing loans on the Internet lies with the power of the next-generation of online decisioning and processing technology," said Keystroke.com CEO Joe Hausauer. "We want to transform the traditional loan process for consumers by giving lenders the tools to brand a web-site and offer the best possible loan services on the Internet. The technology, while complex to meet the loan processing demands of the lender, simplifies the online loan experience for consumers.

From a consumer perspective, a universal lending platform site appears under the identity of the lender. Users enter property data and answer a series of credit and income asset questions. The platform then uses this input to select the rates and the lending program best suited to the consumer's needs. The platform does not require personal information until users view available rates and request to continue the application process. The decisioning technology that creates those products is capable of pricing abstract criteria, opening the door to new types of online loan products.

To ensure security and the highest level of customer service, the platform uses encrypted data for customer confidentiality and makes contact readily available in real time, so that clients can talk with staff members at the lending institution.

Keystroke.com's technology also saves lenders money by reducing the amount of time and personnel required to originate loans and provide programming for the site. All document requests are handled electronically, and both the customer and the loan processor are prompted when key information is needed. Borrowers receive e-mail updates when the loan status changes, and they have the ability to check the status of their loan in real time using the lender's Internet address, as well as an identification number and password.

In addition, the technology boosts a lender's capability to increase market share in other areas by generating a sophisticated database of information about customers. Lenders can use the universal platform's built-in database to create customized marketing programs for borrowers by referring them to other appropriate products from the lending institution.

To enable an institution's wholesale customers to operate on a separate and secure website, Keystroke.com customized a special version of the universal lending platform. The technology makes it possible for brokers to receive interactive rate quotes, lock-in rates electronically, prequalify clients, download necessary documents and forms, view manuals online and find the right loan program for customers in the field.