Accept your clients' credit applications in an instant and provide adaptable loan and lease financing options.
Boost your average order size and decrease income seasonality by accepting payments throughout the year.
Improve client lifetime value by providing a simple and smooth financing experience.
With easy-to-use mobile and website interfaces, you can significantly enhance the customer experience.
2. Build your own credit products in just a few minutes
Companies in over 50 countries apply Compassway
1. Promote sales and repeat purchases
3. Legacy procedures can easily become fully automated and efficient through digitization
4. Give no chance to human or operational error
5. Connect to any system using easy API integrations to unify your lending processes
6. Use bank-grade credit scoring tailored to your company's needs
Learn about asset leasing & equipment financing solutions from Compassway
The cloud-based system combines the manufacturer's adaptable business logic, automatic order processing, loan management, client portal, and reporting tool into a unified, integrated lending solution that makes the whole process automatic, fast, and user-friendly.
Compassway offers bank-grade decisioning automation to distributors, manufacturers, and resellers for manufacturing loans, equipment and industrial machinery financing, medical device financing, etc.
Improve the customer experience by providing fast loan approvals for the acquisition of machinery and equipment, new purchase orders, supplies, or any other product you offer.
With our highly adjustable credit product settings, you can launch new individual and business lending offers and special programs in a matter of a few clicks. Apply a range of lending models, such as factoring, lease-to-buy, rent-to-buy, vendor finance, supply chain financing, inventory loans, and personalized credit solutions meeting your clients' needs.
Business-grade consumer loans & equipment leasing system with Compassway functionality
Business-grade consumer loans &
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Business-grade consumer loans & equipment leasing system with Compassway functionality
Issue:
Companies miss market opportunities to their competition by using old technology to process financing applications, make decisions, choose terms and conditions, and collect payments.
Providing loans to businesses requires extensive risk assessment and working with paper documentation.
Manual approval processing with several client touchpoints and Excel-based risk assessment is inefficient, time-consuming, and has low decision accuracy.
Third-party purchase financing where you must pay up to 7% of the check and cover additional costs while relinquishing control over business and client data.
Installment plans, individual and company loans, and leases require a solution that can manage a variety of financing types, scoring models, and business logic modalities.
Solution:
With the Compassway Equipment Financing Platform, you can easily concentrate on your core business. Compassway's reliable bank-grade fully customizable end-to-end solution is highly efficient and user-friendly.
Compassway is an intuitive cloud-based and fully digitalized solution that makes the financing experience fast and easy.
AI-powered technology streamlines procedures and expedites loan approvals. Even when working with high-risk customers, Compassway's flagship scoring algorithms make lending and credit decisions highly accurate and reliable. Utilize the power of advanced machine learning algorithms for your lending management needs to make quicker and more precise decisions right away.
Compassway puts you in charge by keeping your lending operations in-house. You will use a specialized solution that has been tailored to your particular needs and is fully ready to process financing applications.
Compassway is an industry-leading provider of solutions and services for unified digital lending management, automatic decisioning, and underwriting. Compassway's equipment financing solution is a sophisticated AI-driven system that can unify many lending models, scoring methodologies, and decisioning rules into one platform that provides a streamlined digitized client experience.
Equipment-specific loan origination
Have full control over equipment-based loan origination in a way that fully meets the needs of your organization. Use a range of credit product options such as rent-to-buy, lease-to-buy, or personalized consumer financing plans.
API integration with your website. After selecting the items, the user is requested to fill out a loan application form for the shopping cart.
Before purchasing products online or in-store, borrowers can "pre-qualify" for a set funding amount.
You can import the equipment library into the platform and make it available for purchase in the application form.
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Full risk assessment automation
You do not need to be a lender to provide financing services. Compassway automatically handles all time-consuming lending activities according to the configuration chosen by you.
Individuals and companies can get instant AI-powered credit decisions.
Cutting-edge credit scoring for guarantors based on specific rules.
Fully automated background and fraud screening.
Analysis of bank statement data in credit scoring
The client's creditworthiness can be evaluated based on their income structure, daily spending, and purchasing patterns. Compassway accesses bank statement data in real-time and instantly evaluates it.
Obtain information from revenue and income analysis.
Receive reports on your debtors' money flow patterns.
Collect data on AML/KYC compliance.
Examine financial statement (if needed).
Calculate collateral value using imported equipment library.
Automated order completion & booking
Our solution includes all of the essential built-in API integrations and exclusive functional modules to perform loan processing, risk assessment, credit origination, and disbursements in just a few moments.
Loan documentation is generated automatically.
Specialized client portal.
E-signature integration.
Payments to vendors/dealers and automated fee calculation.
A dedicated loan management and servicing solution for your financing needs
Some of the world's largest lenders have tried out and proven Compassway's ability to handle and efficiently manage financing both for large and small businesses.
Customers can do repayments either automatically or via the client portal.
Debtors can be emailed loan statements on a monthly basis.
Custom due date and overdue payment notifications sent through SMS or email.
Modifiable loan solutions (rollover, restructure, credit holiday, etc.).
Handle products& loans with customizable settings
Understanding the critical functionality required by manufacturers to provide financing services in-house, the system offers unparalleled customization freedom and usability.
Group items and clients based on area, type of equipment, debtor type, and other parameters.
Provide loans, leases, or highly personalized credit solutions.
Easily execute and manage special offers (qualifiers, limited time offers).
Use built-in risk-based loan pricing.
Vendor & dealer management
Use the same interface where you service individual clients to provide financing to vendors. Effortlessly manage stores, distributors, and partners from our user-friendly interface.
In-store staff can use a vendor/dealer portal for loan origination and monitoring.
Orders can be transferred to the Compassway interface and processed there in the most efficient way.
Enhanced loan data reporting gives you a complete picture of your business, customers, and stock.
WHAT CUSTOMERS SAY
We used to have an older system that required more than a day to update or deploy a new risk model. In addition, credit decisions were slow. We estimated we were losing 15% of customers due to abandoned applications. For millennials, who are now a majority of our clients, responsiveness and convenience are key for lending services.
We implemented an end-to-end digital lending platform offered by CompassWay and it allowed to significantly improve customer retention. Up-to-date risk models also mean lower defaults rate and improved profitability. The system is easy to work with in case we need to add new clients or product types. We also received excellent customer support from CompassWay team. Overall very satisfied with the upgrade decision.
Denis Bobrov, CFO of CreditUP