The process of originating a loan is both costly, time-sensitive, and represents the greatest risk exposure in the loan lifecycle. As lenders move into new markets and adjust changing market and economic conditions, the decisions become increasingly difficult and more demanding.
In this environment, lenders must have the capacity to perform better, make smarter decisions, and increase the profitability of their loans. By having better flexibility and more individual control, lenders using Magnum solutions can quickly make the changes to their origination process, scoring strategies and models, resulting in improved profitability and performance.
Some of the largest lenders in the world benefit from Magnum solutions. Whether it is with workflow tools, leading data acquisition, or advanced analytics and decision management, clients see real benefits and improved ROI.
With Magnum, your origination system can benefit from reduced fraud, improved approval rates, risk-based pricing, less human intervention, improved decision speed and costs, managed decision policies and compliance. With Magnum you can perform better, be more productive, and improve your scoring and decision process.
Data Acquisition and Risk Scores
Magnum’s CREDICHECK application is the industry standard for accessing and formatting data from a wide variety of data sources. Over 20% of all credit bureau inquiries are processed through a CREDICHECK platform. Another benefit of CREDICHECK is that you are not limited to any one vendor’s credit score or data. You have access to all bureau scores, as well as scores and data from a wide variety of other sources.
With access to over 20 different data sources, and data types including consumer, commercial, fraud, and international, Magnum can provide you with the needed data access tool to meet your high-volume needs.
Application and Origination Management
Magnum’s CreditFlow solution provides you with one of the industry’s leading loan origination and application processing platforms. Used by leading lenders world-wide, CreditFlow provides a web-based solution for taking applications, whether from the consumer directly or through your loan management personnel. Additionally, CreditFlow provides you with all of the tools for queue management, analyst review, and easy process design and edits.
Risk Decisions
As part of your origination process, you need strong risk decision support and analytic capability. With Magnum, you can support your origination process with analytic tools that are used by some of the largest lenders world-wide. The Magnum solutions offer you the benefit of creating and testing your own characteristics definitions and scoring strategies, right at your desktop, and then placing them into production without needing vendor programming or IT intervention. You control your own process, and you control your own risk decisions and design.
Fraud Prevention
Fraud is rampant, and is a major concern for most lenders as they originate new loans or accounts. With Magnum, you have access to all types of fraud solutions, including OFAC and watch list checking, fraud scores, ID Fraud verification, and more. All fraud sources can be accessed at the optimum time during your origination process, ensuring the best decision cost versus the best risk return.
Web-Based Origination
If your model includes web-based loan origination, then Magnum can help you meet your goals and achieve the ROI results you are looking for. With both outsourced and licensed solutions, Magnum can provide the technology to seamlessly integrate your web front-end into your origination and decision process.
Small Business Decisions
The small business arena is a fast growing sector for lenders as a whole and for origination solutions specifically. Magnum has the technology, the data access, the blended scorecards, and the expertise to help you originate and decision small business loans. Whether your decisions are based on one or multiple principles, and whether you are blending industry small business data or scores, Magnum can help guide you through this difficult origination process.
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