Turnkey Lender

4,5 (23)
Award-Winning Unified Lending Management Software

Overall rating

4,5 /5
(23)
Value for Money
4,1/5
Features
4,3/5
Ease of Use
4,5/5
Customer Support
4,3/5

87%
recommended this app
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23 Reviews

Christopher R.
Overall rating
  • Industry: Investment Management
  • Company size: 2-10 Employees
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support

Great product - excellent support!

Reviewed on 2016/04/29

We used Turnkey Lender to stand up a loan origination system for veterinary services in short order. The product has the vast majority of the functionality right out of the box, was easily integrated with a credit agency to pull FICO scores and the support team did an outstanding job making our requested customizations.

Pros

Solid COTS product and very customer oriented support team.

Cons

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

Bryan T.
Overall rating
  • Industry: Financial Services
  • Company size: 11-50 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Improved Workflows and Decreased Manual Processes

Reviewed on 2021/12/08

Prior to using Turnkey Lender, we managed our loan program through Google Forms and spreadsheets. Our processes were quite manual and our growing business needs could not catch up with this. We needed a way to automate some workflows, consolidate all data into one system, and have a one-stop-shop where we can manage the program effectively. Turnkey Lender has proved to be a good solution to that problem. As with other software and products, our initial launch did not come without any issues but the Turnkey team was quick to help out and provide timely resolution. After two months of using the platform, I must say that things are quite easier now for me and my team, and using Turnkey Lender was a welcome update from having to do things manually.

Pros

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.

Cons

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.

Alternatives Considered

Mortgage Automator and Bryt

Reasons for Switching to Turnkey Lender

The automated workflows and integrations plus creating a one-stop-shop was certainly a value add compared to others.
Christer O.
Overall rating
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 0.0 /10

I do not recommend

Reviewed on 2020/07/13

The worst system/platform I have ever worked with. Even if we stated everything in the original documents, they still managed to take 1,5 years to get things starting, and when they started it all went down every day.

All things have two sides, but in this matter, I will blame everything over on Turnkey. They have cost us so much money and we have had problems from day one. Nothing has worked, we have found bugs every day for 1,5 years even if they tell us they have fixed it.

I know they will reply that "this is due to client functions and xx xx xx" (as they do for all that complaints) but I am willing to document it all, for those who are interested.

I respect some of the workers there, but I will never ever again have something to with them again. The management completely ignores you when you complain, they point the fingers on you and they say it´s your fault, no matter how often you document that, it´s not our fault.

For companies that needs a stable broker/application/fintech service, stay away from them and their solution.

I do not recommend them.

Pros

There was NO pros with this software at all

Cons

Slow system, not flexible, server crashed, no understanding

Megan B.
Overall rating
  • Industry: Medical Practice
  • Company size: 51-200 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 10.0 /10

Turnkey has all the options!

Reviewed on 2022/03/21

I recommend to not take short cuts with initial onboarding and training of the software. We've had a bit of a rocky start, but likely due to admin and employee transitions on our end. Difficult to get help from the service desk. But I found it helpful to make the ticket and then also reach out to other contacts within the company.

It's generally user friendly for someone with little-to-no background as a loan officer. But I feel there is a lot more I can learn to make Turnkey more successful for us. We did not receive Sandbox instructions until very late into our setup process, and the database cannot be reset. So we are stuck with a lot of "test loans" and other test information in our reports. [SENSITIVE CONTENT HIDDEN] was helpful to find ways around this so we can have correct and current data for our reports.

Onboarding with [SENSITIVE CONTENT HIDDEN]. was extremely helpful, I highly recommend him. He was very attentive to my questions about specific scenerios. If he didn't know the answer or was at all unsure he was quick to get help. Very knowledgeable and a patient trainer. I greatly appreciate him, and also [SENSITIVE CONTENT HIDDEN], for their guidance and assistance.

Pros

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/

Cons

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.

Janielle M.
Overall rating
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Weekly for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Time saving automation

Reviewed on 2020/04/06

Overall the functionality has been a big positive. The initial set up fees were a bit steep but the ongoing rate is comparable.

Pros

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.

Cons

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.

Alternatives Considered

The Mortgage Office and Bryt

Reasons for Switching to Turnkey Lender

I felt turnkey was the best solution for us long term and gave us a bit more than we need right now, but we have room to grow. There were a lot of integrations with third-party software that keeps us from submitting things like ACH payments manually.
Tarek R.
Overall rating
  • Used Monthly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Excellent experience since project inception with super-fast responses every step of the way.

Reviewed on 2018/02/10

Cost effective software, good support and ease of transaction for users.

Pros

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.

Cons

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.

Verified Reviewer
Overall rating
  • Industry: Civic & Social Organization
  • Company size: 11-50 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Turnkey Lender Project Implementation

Reviewed on 2019/01/21

My experience was dealing with the development team to make sure the software was being customized how we needed it to. The team was always very responsive and quick to deliver answers and solutions.

Pros

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

Cons

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.

Rama I.
Overall rating
  • Industry: Financial Services
  • Company size: 11-50 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Best of Breed

Reviewed on 2021/11/10

I have had the absolutely Pleasure dealing with both the Technical ( Project Management ) and Account Management Teams. They have the highest standard of customer service, communication level, availability and the understanding of our product. When faced into challenges, they were able to help stimulating ideas and together with them we were able to achieve what we required in the first place

Pros

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

Cons

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

Prab L.
Overall rating
  • Industry: Automotive
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Turnkey Software is Great

Reviewed on 2021/09/14

Turnkey is a great software for our business, we use it everyday to manage all loans easily in one spot.

Pros

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

Cons

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

Nelson N.
Overall rating
  • Industry: Nonprofit Organization Management
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great fully automated loan management system

Reviewed on 2021/12/08

Great experience implementing the system and excellent experience with support.

Pros

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

Cons

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.

Thomas P.
Overall rating
  • Industry: Financial Services
  • Company size: 51-200 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Very User Friendly Software to Grow Your Business

Reviewed on 2020/01/16

Software Capability wise is unquestionably great but for any new potential customer who are interested in this solution, these would be my advise to you.
1) Trial the software as much as you can in order to understand how the entire system works. Best is if you form a team dedicated in testing the software and all the nitty gritty details, documenting how the behaviors works. If you are not sure about how it works, ask plenty of questions and follow up questions. They are very professional on this.
2) Make sure you evaluate well whether this software can fit into your company business plans or not. It may take longer time for you but it will save you a lot trouble in the long run.
3) Ask lots of questions during the initial phase and requirement phase. Its very important.

Our experiences with Turnkey Lender is they tend to be open for negotiation on most things in regards of pricing, requirement and support. Kindly negotiate.

Pros

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

Cons

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.

Cesar B.
Overall rating
  • Industry: Information Technology & Services
  • Company size: 11-50 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

A fairly simple but powerful software in finance

Reviewed on 2018/02/22

practicality, effectiveness and performance to administer loans in a faster and more versatile fashion

Pros

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.

Cons

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.

Clarke R.
Overall rating
  • Industry: Financial Services
  • Company size: 11-50 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Excellent product and helpful friendly support

Reviewed on 2017/09/26

Very fast time to market and established a market leading business very quickly thanks to Turnkey Lender.

Pros

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.

Cons

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.

Luke W.
Overall rating
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great product

Reviewed on 2018/08/20

Our hope for Turnkey was to provide a full flow from customer application to settlement with improvement on our efficiency. This has been acheived to a high standard and realise how labour intensive our workload was prior to this. The product and team have delivered so far. And hoping to create further improvments based around our specific needs.

Pros

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.

Cons

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.

Blake A.
Overall rating
  • Industry: Nonprofit Organization Management
  • Company size: 11-50 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 0.0 /10

System can't do basic functions

Reviewed on 2021/12/13

Not good at all.

Pros

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

Cons

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.

Margaret A.
Overall rating
  • Industry: Consumer Services
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Good Software

Reviewed on 2021/12/17

Their Project Manager was amazing. And their key account manager worked with us when we needed some changes done on the system and they made a lot of sacrifices and compromises for us.

Pros

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

Cons

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

Kungkea S.
Overall rating
  • Industry: Marketing & Advertising
  • Company size: 2-10 Employees
  • Used for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

The software bought from Turnkey Lender is great. Convenient for users and faster processing.

Reviewed on 2017/09/27

Can gain more clients to use this online loan origination software. Clients can use this system to promote and manage their customers without much investment.

Pros

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

Cons

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.

Verified Reviewer
Overall rating
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Excellent support Team and ease of use

Reviewed on 2018/09/03

Very helpful and good explanation of features, support teams work promptly and very thorough. Easy to use UI.

Pros

Support team has been amazing and ease of system use

Cons

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

Robert F.
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  • Review Source

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  • Ease of Use
  • Customer Support

Thanks Turnkey Lender for improvement of my workflow.

Reviewed on 2014/07/28

Thanks Turnkey Lender for helping to improve the automation of my workflows.

For me, as the owner of a start-up lending company, it was a little unusual to use this type of product for my business. But, as they say, "Time is money!" And, time is of the utmost importance in this business.

That's why it is important for me to use a solution like Turnkey Lender. It greatly increased my number of customers and turnover as well. All this, and it decreased the processing times for each new application. It certainly works as advertised!

Keith J.
Overall rating
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 3.0 /10

They lure you in with a low price then charge for everything and failed to capture critical...

Reviewed on 2017/07/02

Ultimately I could not use it.

Pros

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

Cons

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

Response from Turnkey Lender

We are sorry for the negative experience you had. We try to be flexible and accommodating to our clients¿ requests, but when the client requests custom functionality after the scope of work is approved and is not willing to pay for it, it¿s not much we can do unfortunately.

Kymahn C.
Overall rating
  • Industry: Computer Games
  • Company size: 2-10 Employees
  • Used for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

My TurnKey Lender Review

Reviewed on 2020/03/02

This site won 20 awards worldwide, this is A easy solution for borrowing a loan online...you should try it then thank me later!

Pros

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.

Cons

I find nothing wrong with this site and I love it

Raed A.
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  • Review Source

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  • Ease of Use
  • Customer Support

Great solution

Reviewed on 2016/06/10

great cloud based solution for online lending and retail lenders

Chunki M.
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  • Review Source

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  • Ease of Use
  • Customer Support

Great

Reviewed on 2015/10/12

Its never gave me any problem as it helped me in most aspects

Response from Turnkey Lender

Thanks!