Overview
Product Information on Loan IQ
What is Loan IQ?
Loan IQ Pricing
Overall experience with Loan IQ
“Easy to deploy and use!”
“Loan IQ - Broad Loan System - Research Can Be Confusing - Long Learning Curve”
About Company
Company Description
Finastra is a company focused on fostering financial inclusion. Open collaboration, open finance, and usage of an open platform characterise the company’s operations. It caters to the needs of the global financial services market with innovative solutions. The Fusion software architecture and cloud ecosystem offer cutting-edge technology. The company’s approach combines various beneficial actions to maintain relevancy in its operations. Finastra's emphasis on diversity and inclusivity characterises its cultural ethos. It consistently aims to engage its workforce in interesting and complex tasks, promoting a culture of ownership and opportunities for making a noteworthy impact.
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Reviewer Insights for: Loan IQ
Performance of Loan IQ Across Market Features
Loan IQ Likes & Dislikes
Automation definitely! It makes day to day operations easier. We were able to easily deploy this software to our everyday lives and instantly use its automation to help us complete our daily tasks at a quicker pace.
It is a product that can handle a wide array of loan products, like I said, our company has made it the choice to consolidate all of our loan systems to. If it can handle my company it should be able to handle most.
It reduced cost of loan generating using single lending platform. It improves risk management and reduces error possibilities. loan disbursement is simple and easy for our clients.
I cannot customize fully to how I want the product. Based on all the teams that use this product, we would've liked the product to have more customization, however that is not the case.
I find the research to be difficult and not intuitive. It took me a long time to figure out where to find things. I know our Operational personnel struggle to learn all of it and there is a long learning curve with it. We have some experienced ops personnel that do not know how to fairly simple tasks due to the complicated interface.
If you don't consider price perspective, then loan IQ is a good option to use. I don't find anything that I dislike about.
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Loan IQ Reviews and Ratings
- FINANCE MANAGER1B-10B USDBankingReview Source
Loan IQ - Broad Loan System - Research Can Be Confusing - Long Learning Curve
I am a daily user of Loan IQ. I use it for both bi-lateral and syndicated loan facility structures. I work in an area with non-traditional loans that often have customized features. We tend to have quite a few problems where we have to go back to Finastra to fix issues and the resolutions are not as quick as we need. This often bleeds over reporting periods which is problematic. It is a broad range product and I work for a very large company that is consolidating loans and Loan IQ is the primary loan system. I will say, other peers in my world prefer their existing loan systems over Loan IQ. - FINANCE MANAGER50M-1B USDFinance (non-banking)Review Source
A Transprent Loan Management software.
Overall Fusion Loan IQ is a good software for increase transparency and efficiency by automated process of loan generation. User interface of this application is innovative and well managed. - ANALYST1B-10B USDRetailReview Source
Easy to deploy and use!
Overall, Loan IQ is a great product to use. While not fully customizable, it does offer ease of accessibility. The product also has great support team that is able to help us often, which is very comforting especially when we are deploying the app newly.