Turnkey Lender Reviews

Solid COTS product and very customer oriented support team.

While they do offer a SAAS model, pricing seems to be slanted toward outright licensing of the product. This might be something to refine.

Turnkey Lender allowed us to improve our processes and workflows after having to manage our loan program manually for months. They were able to capture all the basic things and features we needed to get some automation started, and we are able to request further customization as needed. It was easy to use and, if we needed assistance, support was immediately available. Our project manager was also very helpful and we have continued to have a good relationship.

The price for automation and organization is not cheap. And this holds true for Turnkey Lender. Their existing platform already offers a wide range of functionality, but further improvements to the product may come at a steeper price. Additionally, the platform can sometimes be a bit slow which can affect one's productivity and efficiency. Getting any custom changes in the application form out of the system via standard reporting requires additional development.

There was NO pros with this software at all

Slow system, not flexible, server crashed, no understanding

After a bit of research for lending software - Turnkey Lender was the one for us because it starts with Origination of loans and takes you through the Underwriting/Servicing/Collection. It has all our desired features. Collateral/

Integration has been a little rocky. The Customer Support has been difficult to work with, specifically to get the attentive help and solutions we have requested. But onboarding team has been eased that challenge.
We have looked into switching companies since starting with Turnkey because of its lack of customer support, but ultimately couldn't find an alternative that fiscally made sense.
This issue was resolved with onboarding training.

I like the automation, it saves a lot of time moving the loan from origination to servicing and prepopulating the necessary documents. I also like that it has a customer portal where customers can see their balance, update payment methods, and upload documents to us, like proof of insurance. There are a lot of automated emails that help customers stay on top of getting us the required documents, which saves time.

Some of the set up was awkward. In one area it would have you use one code and then on the help page it would be a different code for the same item. The help team set up some of my codes because I didn't know which one I was supposed to be using.

Its very simple to use and very easy to follow the screen prompts. In our case, we are offering investors the possibilty to invest in consumer loans in Africa. The system splits the users into 3 user categories and does not confuse each user with tons of functionality which in the end confuses them and does not necessarily add much . We wanted a simple and straight forward system and that is what we got especially since our requirements were slightly fuzzy to begin with. So not giving you too much too early made our job a lot easier.

To add to the pros of the software is that the team behind it really know their stuff so you dont waste time in system specs being implemented incorrectly. The other pro is the the manner in which faults are tracked and solved. Its a clear tracking system which makes your job a lot easier.

The software does not have a lot of reporting functionality or at least does not come with it as a menu item but must be paid for additionally.
That was our only issue which we will address with asking for that as an extra. However given the overall cost effectiveness of the product, this is more than compensated.

The software is very easy to use and our processes are now much quicker thanks to the automation that the software allows.

Because our processes are so much more automated now with the software, we cannot do as many individual changes as we used to before. This just meant that we had to slightly adjust our processes to be in line with the new software capabilities.

The Ease of use, Customizations that we can achieve with the help of the TKL's Project Management and Accounts team and Suitability to our Business Requirements

the ability to change the logo at the bottom of the redirected Browser. But this isnt a show stopper as we can still provide our company logo at the top and customize that page

This software is really user friendly, and great to use.

Sometimes there are bugs in the software but the team at turnkey is always alert and stay on top of things.

The automation is great. From notifications to contracts being able to be emailed to customers. All can be done online without any problems.

Decision levels could be object driven. Authorizations have been implemented lately to address this, but a little bit more automation and customization on this area would be great.

When you trial the software, you can know that they know their stuffs well. If your current solution can only gives you a 10 million portfolio monthly max and you would like to grow it to 100 million portfolio and above, this is the one that can give you the power to achieve it
1) Ease of Use. From Customer's Origination status to Bad Debt Status, the borrower will move into the relevant status automatically
2) Notifications to customers can be via SMS or Email. Customizing your notifications to your borrowers is very easy.
3) Easy File Export. File export can be easily exported by stating the correct status and the dates, available in excel and csv
4) Flexible customization for your credit products. Credit products can easily customized with your own interest rate, min and max loan amount and etc
5) fast customization and deployment
6) Scoring modules
7) Can launch a new offering easily

1) Stock version is mostly based on US requirements. For organizations not based in US which would like to use it, some customization will be needed in order to meet their needs. I would hope for more regional requirements will be appearing in the solutions
2) Many Processes are automated. Not exactly a con but more like a mental preparation for Organization that wants to grow from 10 million to 100 million monthly, some existing flexible processes that assist you to grow from 0 to 10 million will need to be discarded and this software will help you in a great way.
3) Most of the new updates done by Turnkey Lender will only be applicable to users who are using the stock version. If your solution is heavily customized, receiving new updates will be very subjective or not available. Its very important to include this into your initial contract negotiations on how this can be done.
3) Pricing is only in USD. Hope to see charging in regional currencies instead of USD.

It is a very versatile tool, easy and practical to use, our clients have inclined to make it a fundamental part in their administrative environment in view of the fact that the flow processes of origin, loan and payment can be monitored in a well-disaggregated manner.

its relation of cost by investment is quite low compared to other applications since it does not generate large impacts of application to a medium company or to a personal level if it is worked directly with loans, advances and short term promissory notes.

it is possible to have multiple users, in which each one can manage their functions separately and without invading the privacy or administration level of the current assets, it is important to recognize that to create such a complete software, the corresponding studies on the matenan and It is a very important point to highlight, which speaks very well of an application with a tendency to evolve.

It only needs an improvement to be able to carry out credit lines online, which would make the client-supplier personal time and interaction more manageable.

Turnkey Lender is extremely flexible and you can launch new credit products very quickly and easily. You have the ability to credit very detailed credit products that are you can really fine tune to target particular borrowers.

The reporting can get messy if you do any live testing and you can't remove the entries due to very strict audit controls. I know it's not really a con, more a feature.

We love the ease of use with this product. The team at Turnkey have obviously reasearched the market well to porvide relevant features with many unexpected extras, only those invested in the industry and its requirements would understand.

Simply that the 'off the shelf' product reflects more typiclaly US format and terminology. However, the team will and have worked to update this to meet our requirements.

None, there are errors and issues with everything and getting things fixed is a hassle. Seems most things are outsourced.

There is a number of limits to document automation that is very frustrating and requires additional software to work around TN. When issues arise, ex. payment schedule miscalculated, you can't fix them yourself, so you need to reach out to them to fix the problem ($$$). They don't have the team necessary to automate tasks, the high rating is shocking.

It the easy to use for staff and customers. And the quick response from the Turkey team.

Nothing for now. The software is good and we're satisfied with it.

Online access for both back end and front-end(Loan Origination). Role matrix back officer users and multiple Lona products.

limited to multiple clients(client1, client2, client3) cannot filter applicants by clients. example: client1 should see only client1's customers. Client2 should only client2's customers. And Client3 should only client3's customers.

Support team has been amazing and ease of system use

Best to get a proper training when you first use, as I started late in my company i missed the initial onboarding and functionality training

Good product with solid features for straight out of the box implementation . It has a low entry price point

The team lacks integrity. Several times they stated one thing and then reneged . This increased my costs, delayed revenue and negatively impacted my clients .

I start by saying THIS IS SECURE AF!
I thrust this app with half-of my heart and my other half is my girlfriend!
Research have shown that this app is trusted in hundreds of businesses in 50+ countries
It is very easy to borrow A loan and very simple too or even banking on a whole Turnkey Lender is your best choice.

I find nothing wrong with this site and I love it