WASHINGTON, June 23, 2022–(BUSINESS WIRE)–Lokyata, a company focused on providing products that digitize, automate and scale lender credit decisions, announced that its real-time, automated credit decision tool, BankAnalyze, is now integrated with Infinity Software’s loan management software platform.
Infinity Software has been providing software solutions to direct-to-consumer lenders for 20 years and has enabled more than 700 companies to centralize their lending operations through a single platform. Infinity offers website design, optimized loan agreements, automated insurance waterfalls, accurate localization and a variety of consumer loan products. The configurable loan product engine further helps customers maximize revenue through advanced accounting and reporting, a built-in collection package, and anti-theft access controls.
Through the API-enabled integration of the application programming interface with Lokyata, Infinity Software customers will gain access to additional, valuable data and information related to borrowing, including customer-approved analysis of bank statements, such as average monthly net income; minimum balance; average monthly loan payments; and Insufficient Funds (NSF) reports. In addition, lenders can easily configure auto-fund and auto-deny rules, further streamlining the loan decision-making process.
“Infinity has worked with hundreds of suppliers to meet the needs of lenders in our space,” said Shannon Lee, Director of Products at Infinity. “Lokyata has proven to have a unique product that helps lenders better meet the needs of subordinated borrowers and grow their businesses responsibly and innovatively.”
“At Lokyata, we are always looking to partner with innovators in the market and Infinity Software demonstrates the value of scalable, modern technology in an evolving credit ecosystem,” said Steve Bireley, CTO at Lokyata. “More and more lenders are looking for ways to responsibly help more consumers access credit, and through tools like BankAnalyze and Infinity Software’s platform, more lenders are successfully achieving that goal.”
Infinity is the leading LMS in alternative lending, serving the industry for 20 years. Lenders on the Infinity platform have the ability to automate day-to-day tasks such as loan underwriting, payment processing, and collections. Infinity offers a wide range of loan products, such as installment loans, lines of credit and short-term consumer loans. Authorized to work with both state-registered lenders and tribal lenders, Infinity conducts business in the US and Canada. Infinity is constantly innovating and improving to better fulfill their mission of “Giving Lenders the Freedom to Grow”. For more information, visit www.infinitysoftware.com or email firstname.lastname@example.org
Lokyata’s global headquarters are in Washington DC with offices in Europe, India and Latin America to serve the global customer base of banks, non-bank finance companies, credit bureaus and fintech borrowers. Lokyata’s deep experience in lending and credit risk, combined with a robust data science practice, pragmatic approach to data strategy and scalable AI-driven platform, deliver measurable results in higher loan approval rates, lower default rates and improved financial margins. For more information, please visit www.lokyata.ai or email email@example.com.
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