Gartner defines commercial loan origination solutions (CLOSs) as software applications that enable lending institutions to manage the end-to-end process of opening lending products, from application through underwriting and closing, for businesses of different sizes. These can be consumed as on-premises software, cloud-based SaaS, integrations and API, and white-labelled solutions. CLOSs are software solutions specifically designed to facilitate the evaluation, approval, settlement, and documentation of loans for businesses. These solutions serve as a centralized platform for lenders to assess business creditworthiness, collect and analyze financial information, automate document processing, and streamline the commercial lending process. The primary purpose of CLOSs includes activities such as processing loan applications, managing risk, managing collateral, and improving operational efficiency. These solutions offer solutions to problems such as lengthy approval processes, manual data entry, complex financial analysis, and cumbersome documentation requirements.
A digital banking platform (DBP) enables a bank to begin the transformational process of becoming a truly digital bank that is ecosystem-centric. A DBP also enables banks to achieve business optimization. However, that is not the end state. For banks seeking only business optimization as the goal of their digital banking strategy, a digital banking multichannel solution will meet those needs.
A digital experience platform (DXP) is an integrated set of technologies designed for the composition, management, delivery and optimization of personalized digital experiences across multiple channels in the customer journey. A DXP binds capabilities from multiple applications to allow the creation, orchestration and presentation of seamless experiences. It also forms part of a digital business ecosystem via API-based integrations with adjacent technologies. DXPs are applicable to business-to-consumer (B2C), business-to-business (B2B) and business-to-employee (B2E) use cases.