Q2, CloudKaptan Collaborates with Prompt Financial on Lending Process Platform
Digital home lender Prompt Financial Solutions has partnered with Q2 Holdings Inc., a provider of digital transformation solutions for banking and lending, and CloudKaptan to unify and automate the entire lending process lifecycle on a single platform, from application to funding decision, service and reimbursement.
With Q2 Lending, Prompt Financial has reduced its administrative burden and credit risk while streamlining the entire user experience with a modern and simple workflow. With its new rapid scalability and flexible technology stack, Prompt Financial can provide funding within 2-3 business days. The convenient and accessible user interface enables quick decision-making, while reducing the administrative burden.
“It’s been a true digital transformation of our business from the inside out,” says Daniel Goldsmith, reporting analyst at Prompt Financial. “When CloudKaptan introduced Q2 Lending, we experienced a smooth and rapid evolution. Starting with the successful launch in just 12-14 weeks, our data management was completely transformed from a cumbersome and slow system into a workflow very efficient and unified, easily customizable to meet the needs of all users.
Prompt Financial continues its trajectory with the launch of a new mobile app for mortgage brokers and the addition of 35-50 new lending products, all supported by Q2 Lending and CloudKaptan.
“One of the biggest improvements is the workflow,” continues Goldsmith. “The fact that our entire team can check statuses with an underwriter, admin, customer service representative, or anyone else, and everyone can see exactly where things stand in the process has changed our business.”
“We are thrilled to partner with innovative and forward-thinking companies like Prompt Financial to transform the borrower experience,” said Dallas Wells, senior vice president of product management at Q2. “Prompt Financial has achieved exemplary results with Q2 Lending, improving operational efficiency while dramatically increasing loan volume. We are proud to support the vision and continued success of Prompt Financial.
“The automation and digital transformation of lending activities is at the heart of what we do at CloudKaptan,” adds Manoj Agarwal, Managing Director of CloudKaptan. “We are pleased to partner with Q2 on this journey to help Prompt Financial improve their customer experience with a state-of-the-art lending solution.”