TurnKey Lender, a provider of unified lending management software for evaluating loan applicants, supporting decision-making, and implementing digital-lending process automation, will partner with BankersLab, a simulation-based strategy and training workshops provider. BankersLab is leading the way in using simulation to prepare lenders to launch new portfolios and refine their lending strategies for existing portfolios. The partnership will provide a digital “virtual world” for any lender to optimize digital transformation and portfolio management.
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“A best practice in lending is to use a ‘virtual world’ or sandbox exercise to create a deep understanding of the key lending drivers, from which a clear strategy emerges,” advises Michelle Katics, BankersLab CEO. “We’ve seen strong results around the world from simulation intervention with lending teams – whether they are seasoned or new-to-lending teams. By partnering with TurnKey Lender, we provide a unified offering which bridges strategy to deployment.”
Elena Ionenko, TurnKey Lender Co-Founder & COO, explains, “For many lenders implementing a new digital lending solution is a challenging project because they need to change their existing manual processes to take advantage of the automation technology or they need to design the whole process from scratch. For many it can be a difficult and overwhelming exercise. Through this new partnership with BankersLab we can help our customers visualize and test in a simulated environment the new solution and new approaches to credit risk assessment and underwriting.”
If Turnkey Lender is providing the “fighter jet” technology, BankersLab provides the “flight simulator” to prepare your team to fly quickly and safely. Lenders gain years of ‘experience’ in just a few hours which results in rapid deployment and higher return on investment on the technology.