3 Key Features of a Robust Customer-Centric Loan Origination System (LOS)

Loan origination software is an application in fintech that helps banks determine if they should approve loans. With these systems, lenders are still able to perform their due diligence on every borrower while reducing the time and cost of manually underwriting each loan application.

There can, however, be several problems with loan origination, such as

  • A loan is not properly pre-approved for borrowers
  • Borrower did not expect the loan terms
  • Credit history is not properly investigated by the lender

It is possible to solve these issues in loan origination and processing with a customer-centered loan origination system.

Customer-centered loan origination software features

With companies like Uber providing easy access to car rentals, customers are finding better loan rates to meet their financial needs thanks to technology and internet accessibility.

On the other hand, many lenders today offer mobile applications so that customers can apply for loans wherever they are. Customer-focused loan origination software can provide the best customer experience possible.

Let’s take a look at the key features of a good loan origination system (LOS).

One-Click Loans with Quick Approval

Within a 24-hour timeframe from submitting a loan application, customers can receive pre-approval and access their funds. Loan originators can expedite the process by leveraging biometrics, such as facial recognition, and other verification tools to efficiently verify customer information, enhancing prequalification and accelerating client acquisition.

The growing implementation of Artificial Intelligence (AI) and Machine Learning (ML) in fintech has further facilitated instant approval and seamless cash-out, leading to a reduction of over half the costs associated with loan processing. As a result, rapid loan origination empowers lenders to swiftly approve loans based on precise customer data.

User interface that is seamless for customers

Enabling customers to effortlessly transition between their phone and website browser offers convenient access to a range of lending services. A smooth user interface enhances the entire customer journey, benefiting both clients and lenders by providing an easily navigable lending platform.

Moreover, a multi-channel digital lending experience is a significant advantage. Banks are now integrating diverse self-service or assisted channels to ensure seamless connectivity. The loan origination system (LOS) effectively distributes lending experiences across various platforms.

A more comprehensive end-to-end lending customer relationship

It manages all aspects of your loan and borrowing processes from prospecting, leads generation, loan qualification, and nurturing the existing customer care system.

In addition to reducing customer acquisition costs and reducing credit risks for lenders, end-to-end lending increases conversions and repeat business.


LOS should include features such as rapid loan approval, easy-to-use interface, and increased end-to-end customer relationships.

LOS features can benefit your organization in many ways, such as onboarding customers, reducing overall expenses, streamlining underwriting processes, and maintaining regulatory compliance.