Process
Ranqx powers your digital small business lending by focusing on critical lender and customer pain points – origination, underwriting and monitoring ongoing business performance
Originate
Our streamlined fully-digital user experience captures all the information needed to complete a small business lending decision in just a couple of minutes. Ranqx has access to online accounting and credit data needed to drive decisioning and underwriting.
It works like this…
- Together, we agree the user experience you want for your small business customers
- Small business applies at your website – anywhere, anytime, any device
- Applicant inputs a handful of personal and company details
- Applicant permissions data into the Ranqx-powered analytics engine
- APIs do the heavy lifting to aggregate and analyse data from multiple sources
And offers features like these…
- Simple, frictionless digital application process takes just 2 minutes to complete
- Outstanding, modern user interface wows your small business customers
- API integrations with multiple data sources enables Ranqx to access financial data and power multiple product offers
- Configurable user interface allows lenders to tailor the customer journey
To provide benefits like these…
- Your brand aligned with modern customer expectations
- Simple, engaging customer experience improves loan completion rates
- Quick decisioning engages applicant immediately
- Increase return on investment
- Supports wide product offering
- Low operational and brand risk via staged implementation processes
- Get to market in as little as 8 weeks
Underwrite
Configurable decision engine enables a lender to complete auto-decisioning and advise customer outcomes in minutes, delivering dramatic efficiency gains and cost reductions. Or, if needed, Ranqx can securely transfer all applicant data directly to a lender’s own decision engine – the choice is yours.
It works like this…
- Ranqx configures each lender’s customer journey and decision engine to meet the lender’s credit policy and risk requirements
- Tailored to the products you want to offer – anything from an unsecured overdraft through to a credit card or a secured loan
- Easy to alter configurations if policy or credit rules change
And offers features like these…
- Receive financial information directly from the small business’ online accounting system
- Data codified into standardised financial ledgers to create hundreds of data points
- Additional data collected from other credit and business directory sources
- Fast decisions eliminate manual collection, keying and spreading of business accounts
- Configure every lender’s decision requirements to fit product suite, risk policies and market needs
- Supports overdraft / term loan / letter of credit / credit card / cashflow loan / working capital loan products
To provide benefits like these
- Small businesses enjoy certainty with decisions made in minutes
- Configurable decision engine is highly flexible to support your lending policies
- Increased accuracy and speed of data collation via fully digital data capture
- Up-to-date financials from management accounts (e.g. Profit and Loss, Balance Sheet) provide most relevant information
- Deeper insights into small business performance
- Auto-decision in Ranqx – with secure transfer of payload data into lender systems
Monitor
Ranqx can synchronize and monitor the small business’ online financials in real-time, powering ongoing analysis of business performance.
It works like this…
- Ranqx synchronizes with data providers to regularly collect up-to-date business accounting and other information
- Powers a broad range of financial analysis and ratio calculations
- Ratios used to drive proactive covenant monitoring according to each lender’s financial criteria and review cycle
And offers features like these…
- Over 20 common key financial ratios can be reviewed and alerted
- Powers up-to-date cashflow forecasts
- Portfolio analytics and insights to highlight lender risk exposures
To provide benefits like these…
- Up-to-date financial picture powers proactive performance notifications
- Leading indicator of business performance reduces default risk
- Uncover new lending opportunities
- Help small business customers optimise business funds