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. They are typically offered as SaaS solutions (private cloud, public cloud or hybrid) or on-premises. CLOSs are software solutions specifically designed to facilitate the evaluation, approval, settlement and documentation of loans for businesses. They 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.
Gartner defines digital banking platforms (DBPs) as a set of modular capabilities that enable the bank to create and customize employee and customer digital journeys. DBPs sit between the bank core and the engagement layer (i.e., multichannel solutions or employee applications) and provide a unified environment for four main technology categories: (1) bank-specific composable business services that constitute user journeys, (2) common platform services that support the composable business services, (3) developer tools for journey creation and customization and (4) modern data and analytics for business intelligence, customer insights and continuous improvement. DBPs are consumed as private cloud SaaS, public cloud SaaS or on-premises.