Originate Platform overview
How origination works with LoanPro.
LoanPro's Originate platform is natively integrated with our LMS, giving you an end-to-end credit system. If you want to use other origination and decisioning tools, however, LoanPro is also composable. This article will walk through the basics of origination, comparing how you could manage different aspects of the process through LoanPro's tools or another system.
Origination is made up of four main components:
- Application. The front-end application that the consumer inputs data into for further analysis.
- Underwriting and decisioning. Pulling data to verify an applicant's identity and creditworthiness, and your system for assessing whether they qualify for your credit products.
- Back-office. Case management, disclosures, communications, analytics, funding/card issuance, and more.
- Connection to ledger. A connection (typically through an API or native integration) between the origination system and ledger/servicing platform.
Let's break down how each stage would look through either the native tools in LoanPro's Originate platform, or through your own systems.
| Origination stage | LoanPro Originate | Integrated partners/in-house systems |
| Application | LoanPro's front-end application manager is fully integrated, and lets you easily configure and test applications with built-in data verifications, knockout rules, and branching approval paths. | You would select partners for acquisition and applications, using your own custom programing to send that application data either into LoanPro's API or whichever systems you use for underwriting and decisioning. |
| Underwriting and decisioning | LoanPro’s automations pull credit history, OFAC checks, and other underwriting information, feeding the data into our decisioning engine. The decision engine approves accounts based on your own credit models and business logic. | You would select your own partners for underwriting and decisioning, connecting them back to LoanPro's API via your own custom programming. |
| Back-office tasks | LoanPro has native tools for case management, manual reviews, document management, funding/card issuance, and borrower communication—including approval letters, contracts, and Adverse Action Notices (AANs). | Once an account is approved, LoanPro initiates onboarding, funding, and ongoing support according to your policies. Additionally, you could use LoanPro as a data repository throughout your origination process to consolidate data in a single system. |
| Connection to ledger | The front-end application manager and decision engine are both natively integrated into our LMS; no additional connections are needed. | Approved accounts can be onboarded into LoanPro via our API or an import. From there, LoanPro acts as your LMS for servicing, collections, and ongoing relationships with the borrower. |
Both methods are viable: hundreds of LoanPro clients have configured their origination process using the traditional, integrated LOS approach, and a growing number use the LoanPro supported approach to streamline origination with automations, integrated data partners, and LoanPro’s decisioning tools.
LoanPro Originate
The Originate platform incorporates several tools to enhance your origination process.
- Real-time replicated database. From the moment applications begin entering their information, LoanPro is your data repository and comprehensive audit trail throughout the entire account lifecycle. That customer data can be accessed through our API, merged into contracts or other communications, and used to trigger dynamic automations.
- Underwriting automations. Informed by your own custom business logic, LoanPro can pull credit history, KYC/AML, and other information from data partners, feeding it back into the automated underwriting workflow. If data is inconclusive, our decision engine automatically enacts a contingency plan, pulling from alternate data sources to paint a more comprehensive picture.
- Decisioning engine. LoanPro simplifies the complexity of decisioning, allowing creditors to quickly launch and iterate credit models. Without wasting time on back-end coding, you can empower your team to create, run, and evaluate automated decisioning flows, constantly learning from your own growing body of account and performance data.
Integrated LOS
The integrated LOS approach is the traditional method used by many clients before we launched our decisioning engine. While it does put a greater development burden on your own resources, it remains a trusted and effective method for data gathering and migration.
You would be responsible for either partnering with an acquisition and application handling solution or devising their own. Additionally, you would handle the custom programming that connects that applicant data to their partners for underwriting, KYC/AML, and decisioning. LoanPro can refer partners we are familiar with.
As you gather this data and make your decision on the applicant, you could either store data in LoanPro or your own data repository. We recommend using LoanPro, as it then grants you data visibility throughout the entire account lifecycle. Storing data in LoanPro also opens the possibility to use our Automation Engine to manage accounts throughout the onboarding process, updating account statuses as data is added and triggering next steps in your process.
Ultimately, however, you would own the origination process, being responsible for selecting and integrating with their underwriting and decisioning solutions. And unless otherwise specified, LoanPro would have no direct role in pulling credit information, deciding to accept or reject applicants, or moving accounts along through the process.