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How It Works

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Lenders onboarding

Lenders can do on-line registration in the system. After that our specialists contact lenders to receive official information and sign service agreement. After all formal procedures lenders will have own cabinet and we support him with integration and training how to operate with the system.

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E-commerce connection

E-commerce can do on-line registration in the system. Depending on further process lender can ask e-commerce for official documents and finish registration by itself. After that e-commerce can generate widget, QR-code or link to place it on an own web-site.  

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Product and risk settings

Lender has a possibility to set up products and risk level by itself. Compassway provides lender with possibility in own cabinet to create different credit products through specification of such parameters like credit limit, term of lending, interest rate, schedule of repayment, fees and commissions, penalties. For each product, e-commerce, customer profile and even region lender can create unique customer application form, choose separate credit policy and risk model among proposed by the platform.

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Granting a loan

All loans are granted by the system automatically without people involvement. Compassway decision engine approves loans basing on analysis of client’s application and date received from external resources such as credit bureaus, black lists etc. Compassway has built-in fraud protection AML and KYC tools.  Loan amount transfers or on borrower’s account or on e-commerce account depending on product.

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Credit life cycle

Compassway supports all credit life cycle from granting to repayment. The system gives a possibility for loan extension, automated notifications and triggers to loan events to easy manage loans as by clients as by lender. All communications between lender and customer are stored in one place. Collection tool support lender in operations with overdue loans. Collateral tool helps to manage covering risk by borrower’s assets.

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Marketing

Compassway has built-in marketing tool that helps lenders to create different retention campaigns, deeply analyze customer profiles, evaluate efficiency of marketing activity.

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Analytics and reporting

Compassway analytics reporting tools provide lenders with accurate picture of portfolio’s health. Reports in the system are customizable and can be integrated with lender’s ERP.

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Integration

Compassway has set of API for easy integration with different services like payment tools, credit bureaus. Also our team always ready to support lenders with integration with other specific third parties.

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How can you connect to the product?

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Quick and easy installation

Whether you are a new or experienced lender, the setup process is as easy as a multiplication table. Our specialists will help you adjust the software to the specific requirements of your market, and the standard settings are intuitive.

Professional support

Our offer includes a complete support package that allows you to reduce IT costs and guarantee trouble-free operation of the system. We regularly update the system, adding new functionality that makes business more efficient.

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