{"id":531244,"date":"2022-03-14T11:59:27","date_gmt":"2022-03-14T11:59:27","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=531244"},"modified":"2022-03-14T12:00:10","modified_gmt":"2022-03-14T12:00:10","slug":"lokyata-enables-loan-decisioning-for-financial-institutions-through-bankanalyze","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/lokyata-enables-loan-decisioning-for-financial-institutions-through-bankanalyze\/","title":{"rendered":"Lokyata enables loan decisioning for financial institutions through BankAnalyze"},"content":{"rendered":"

\"Lokyata,<\/a>Lokyata, a company focused on delivering products that digitize, automate, and scale lenders\u2019 credit decisions<\/a>, has released its latest enhancements to BankAnalyze, a real-time, automated credit decisioning tool that enables lenders to instantly review a bank statement and render an \u201capprove,\u201d \u201creject\u201d or \u201cmanual review\u201d decision.
\n<\/strong><\/p>\n

BankAnalyze helps financial institutions, auto finance companies, and consumer lenders alike easily configure auto-fund and auto-deny rules, reducing the time and cost of managing loan decisioning. Lokyata\u2019s latest updates include enhanced capabilities for self-service transaction category tagging, updating, and training that significantly stream users’ processes.<\/p>\n

Because it leverages open application programming interface (API) technology, BankAnalyze can function as either a stand-alone feature or an embedded FinTech solution to extend the value of lenders\u2019 existing loan origination systems (LOS) by providing customer-permissioned bank statement analysis, including Average Monthly Net Income; Minimum Balance; Average Monthly Loan Payments; and Insufficient Funds (NSF) notifications. Financial institutions can then develop a corresponding points system and automate the approval process based on that system.<\/p>\n

Additionally, the business rules settings in BankAnalyze now allow lenders to create their underwriting criteria to support further automated decisioning and counter inaccuracies often found in aggregators\u2019 category tags \u2013 something that can greatly affect crucial summaries, calculations, and scores. These are then immediately recalculated, automatically reflecting the tag changes.<\/p>\n

\u201cBankAnalyze is a next-generation tool designed to modernize how lenders manage decisioning,\u201d said Steve Bireley, CTO at Lokyata<\/strong>. \u201cBy providing lenders with direct access to real-time borrower account information and the ability to design their own rules engines and decisioning trees, we are bringing a level of intelligent automation and improvement to the process that benefits lenders and borrowers alike.\u201d<\/p>\n","protected":false},"author":35276,"featured_media":531250,"parent":0,"template":"","categories":[11379],"tags":[11797,24244,20809,11769,24246,24243,24245,12019,11416],"class_list":["post-531244","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-lending","tag-api","tag-bankanalyze","tag-credit-decisions","tag-financial-institutions","tag-loan-decisioning","tag-lokyata","tag-los","tag-underwriting","tag-usa"],"acf":[],"yoast_head":"\nLokyata enables loan decisioning for financial institutions through BankAnalyze<\/title>\n<meta name=\"description\" content=\"Lokyata, a company focused on delivering products that digitize, automate, and scale lenders\u2019 credit decisions, has released its latest\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/lokyata-enables-loan-decisioning-for-financial-institutions-through-bankanalyze\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lokyata enables loan decisioning for financial institutions through BankAnalyze\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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