Digital home lender Prompt Financial Solutions has partnered with Q2 Holdings Inc., a provider of digital transformation solutions for banking and lending, and CloudKaptan to unify and automate the entire loan process lifecycle on a single platform, from the application to funding decisioning, servicing and repayment.
With Q2 Lending, Prompt Financial reduced its administrative burden and credit risk while streamlining the entire user experience with a modern, simple workflow. With its fast, new scalability and flexible technology stack, Prompt Financial can deliver funding within 2-3 business days. The convenient and accessible user interface empowers quick decisioning, while also reducing the administrative burden.
“This has been a true digital transformation of our business from the inside out,” says Daniel Goldsmith, Prompt Financial’s reporting analyst. “When CloudKaptan brought in Q2 Lending, we experienced a smooth and fast evolution. Starting with the successful launch within just 12-14 weeks, our data management was completely transformed from a clunky, slow system to a highly efficient and unified workflow that is easily customized to meet the needs of all users.”
Prompt Financial is continuing its trajectory with the launch of a new mobile app for mortgage brokers and the addition of 35-50 new loan products, all supported by Q2 Lending and CloudKaptan.
“One of the biggest improvements is workflow,” continues Goldsmith. “The fact that our entire team can check statuses from an underwriter, administrator, customer service representative or anyone else, and that everyone can see exactly where things are in the process has changed our business.”
“We are excited to partner with forward-thinking, innovative companies such as Prompt Financial to transform the borrower experience,” states Dallas Wells, senior vice president of product management at Q2. “Prompt Financial has achieved exemplary results with Q2 Lending, improving operational efficiencies while dramatically increasing loan volume. We are proud to support Prompt Financial’s vision and continued success.”
“Automation and digital transformation of lending businesses is at the core of what we do at CloudKaptan,” adds Manoj Agarwal, CloudKaptan’s managing director. “We are glad to partner with Q2 on this journey to help Prompt Financial improve its customer experience with a state-of-the-art lending solution.”