Benefits

Bringing straight-through processing to loan servicing

Finastra develops and maintains market-facing, generic APIs that can connect to any upstream system. Loan IQ Transact manages the integration and consumption of these APIs within Loan IQ. As a system-agnostic solution, Loan IQ Transact enables clients to transition from manual data entry to straight-through processing (STP).

Process automation

Enables straight-through processing which increases efficiency and provides the scalability needed to support business growth

Increased efficiency and control

Eliminates the need to rekey information manually into the loan servicing system

Lower TCO

Reduces costs with Finastra owning the build and maintenance of the market-facing APIs, the translation, mapping and enrichment

Enhanced user experience

Intelligent automation and exception-based processing offers an intuitive user experience that reduces the learning curve by simplifying the entire servicing process

ING + Finastra: Shaping the future of lending together

Customer Story

Discover how ING is revolutionising lending with the power of Finastra’s Loan IQ Nexus

The bank has made significant progress in its adoption of Loan IQ. 

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We are almost on 95% of the portfolio being on Loan IQ. That gives a big leverage when it comes to having one way of consolidating the data, which is very key for the next journey.

Bidisha Agarwal IT Lead for Corporate Lending
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Highlights

Automate loan servicing with the ability to execute transactions seamlessly

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Image of officemates discussing around a table
Image of officemates discussing around a table
Image of officemates discussing around a table

Smart ingestion

Enables the ingestion of loan lifecycle event into Loan IQ, agnostic of the upstream systems(s), eliminating the need for manual intervention

Complex conversion

Converts external transaction data into Loan IQ formats, using client-defined mapping rules to streamline servicing workflows

Proactive validation

Validates transaction details against existing Loan IQ data, reducing risk and ensuring compliance with the terms of the credit agreement

Transaction control

Monitor workflow status and quickly identify exceptions using dashboards that hightlight transactions in need of further investigation

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Seamless lending operations

Finastra Loan IQ

Loan IQ is the market's leading loan servicing platform that can support the full spectrum of lending on a modern, unified platform.

Product Details

Finastra Loan IQ Nexus

A modern integration layer that reduces complexity, accelerates innovation and improves data flow across the loan lifecycle.

Product Details

Finastra Loan IQ Build

Take the IQ out of loan booking with a seamless, straight-through user experience for financial institutions and borrowers.

Product Details

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Frequently Asked Questions

Loan IQ Transact FAQs

Loan IQ Transact is part of Loan IQ Nexus and leverages its translation layer, allowing users to easily map upstream data to Loan IQ's without the need for deep technical knowledge of the system.

Loan IQ Transact uses system-agnostic, market-facing APIs and a translation layer to map upstream data to Loan IQ formats. This allows seamless integration without requiring Loan IQ expertise.

Loan IQ Transact promotes automation and offers improved transaction oversight, with the system performing data validations to identify exepctions that can be remediated without re-keying data.

Loan IQ Transact improves efficiency through automation, reduces costs by eliminating manual rekeying, and provides scalability to support business growth—all while lowering total cost of ownership.

Ready to elevate your lending experience?

Discover how Loan IQ Transact can streamline loan servicing by automating the management of loan lifecyle through steamless integration.

Loan IQ is a market leader and continues to be a market leader when it comes to process transactions and handling of complex deals

Pranjal Saikia
IT Area Lead for Corporate Lending, ING