PowerLender - TruStage Commercial, Consumer Lending Documents Integration
Safeguards Compliance and Minimizes Transaction Risk
From its inception, the partnership between the PowerLender® Loan Origination System (LOS) and TruStage has had as its principal goal the creation of a best-in-class LOS that leverages the best technology, safeguards compliance, and helps financial institutions close more business while minimizing transaction risks.
Developed by IBT Apps, PowerLender is an enterprise lending solution designed to originate commercial loans from a single browser-based platform. With PowerLender, lenders can establish their own business standards, including operating procedures, conditions and limits, workflow, automating virtually every transaction and promoting consistency throughout the process.
Simplicity Configuration by TruStage is tightly integrated into PowerLender to deliver a totally automated content management system tailored for each lending transaction.
Our combined expertise is evident not only in the breadth of its end-to-end lending solution, but also in the seamless integration of PowerLender and transaction risk management. The transparent flow of information from the lender to the LOS, to the risk management solution and back in the form of warranted transaction content fully connects the demands of the lending community with a single, intuitive experience.
TruStage Delivers Competitive Advantages
When you license PowerLender you also receive Simplicity by TruStage. The solution includes the following components:
- Content Configuration. The content configuration component, Simplicity Configuration, allows lenders to define and maintain the language used to document each transaction, and it does so in a manner that mitigates ongoing operational and compliance risk. A lender can easily define relationships that simplify content definition and create a consistent brand identity across product and policy disclosures. They can also control default settings and language in documents to satisfy operational requirements.
- Data Analysis. An analysis of transaction data is critical for successful risk mitigation. Simplicity Configuration delivers this analysis to ensure that all required data is present and complete, based on the transaction type. It verifies that data is internally consistent, and it identifies content required to memorialize an enforceable transaction.
- Data Collection and Validation. Simplicity Runtime serves as an extension of the PowerLender LOS. It provides an exhaustive compliance screening of all data supplied to the transaction and will dynamically display questions to collect any missing data that is required for a compliant transaction.
- Selection and Association. The selection and association process determines that loan criteria is valid, indicates the correct quantities of each document, specifies which borrowers are associated with each document, automates the selection of output documents and produces a warranted document checklist for loan application and closing personnel.
- Assembly and Output. Simplicity dynamically produces the set of documents required to memorialize each transaction in its entirety. The resulting documents are tailored to fit the transaction in question. Transactions are not one-size-fits-all and neither is the content and layout of these documents. They only contain the content that the transactions require. Data always fits on documents, eliminating the risk of inaccurate transaction documentation or customer confusion.
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Implementation Partnership
PowerLender’s clients benefit from a streamlined implementation process. TruStage collaborates closely with the team managing the project, allowing you to work directly with TruStage experts on content reviews and training questions.
Training
Compliance Systems provides access to its easy-to-use learning management system to educate the lender’s key compliance personnel on the use of Simplicity by TruStage This online training consists of a custom training catalog designed to help staff quickly gain fluency with the application so they can easily produce results the first time they use it. In addition to online training, lenders can participate in regularly scheduled live webinar sessions to clarify any questions which may arise during the online training.
Analysis and Review
TruStage reviews the user’s current documents to determine if they can be replaced by standard Compliance Systems documents or if they are candidates for a custom document option. A document analysis report is provided during a scheduled document review call, which is conducted in coordination with IBT Apps. The document review call helps clients understand how TruStage documents meet their transaction requirements.
Compliance Update Service
TruStage Compliance Update Service is a software development and maintenance process that keeps Simplicity by Compliance Systems in compliance with federal and state regulations while managing enhancements to its features. The Compliance Update Service is delivered in a series of scheduled releases throughout the year. TruStage delivers its updated components to IBT Apps and after successful integration and testing, clients receive a software release which includes all TruStage updates.
Coordinated Support and Release Management
Support concerns are coordinated between TruStage and IBT Apps to ensure fast and effective client service. TruStage and IBT Apps automatically cross-reference reported issues for optimal communication and regular joint status reviews promote collaborative evaluation of issues for prompt follow-up. TruStage and IBT Apps work together to provide quality software releases. Both TruStage components and IBT Apps software are installed in a unified process.
Cooperative Development
TruStage best practices, and usability studies so that the combined solution keeps pace with evolving industry needs. This ongoing collaboration allows the TruStage-IBT Apps development teams to provide the highest quality lending software available.
Warranted Compliance
Simplicity by TruStage is backed by a full compliance warranty. TruStage has never made a payout or received a valid claim against its compliance warranty. TruStage reliability and commitment to excellence means lenders can use Simplicity by TruStage nationwide with full confidence.
About TruStage
TruStage is a best-in-class provider of financial transaction technology and expertise with more than 28 years of experience in financial transaction data analysis and documentation. They currently support content configuration and compliance risk management at more than 1,500 U.S. banks and credit unions. TruStage, in concert with an extensive Lending, Deposit, and Core FinTech partner network, equips financial institutions to mitigate the inherent business risk associated with perfecting commercial and consumer loan and documenting deposit transactions.
IBT Apps has been helping lenders grow for more than 30 years by providing quality software and outstanding 24/7 technical support. If you’d like to know more about the IBT Apps PowerLender TruStage integration, please call us at 800-628-4687 or visit us online at www.powerlender.com.
Copyright © 2023. All Rights Reserved.
All companies and products are trademarked.