Finding the Right Partner
Adding a new lending product (LOB) is a typical activity for most lenders. But adding a lending product in a fast developing market sector in which new variables are in the mix such as home value, tax credits, and even dealer/installer relationships, is a complex new landscape. This doesn’t mean that your new solar loan product has to be costly or take even months to develop. Instead, it might be an opportunity to move even faster. Three of the top five renewable lenders in the market are utilizing the hosted loan platform(LOS), strategies, and consulting work from the team at Financial Network, Inc. As the leader in Solar Lending, FNI has deployment strategies, relationships, and automation designed to reduce time to market and ensure success.
We have recognized many simple, but extremely important steps to take in onboarding a new solar lending product and our customers benefit from our experience. And since we believe in sharing what we know, you can benefit too.
Building Dealer and Installer Relationships
If you build it, they will come. Well, maybe that’s true in baseball fantasy, but in reality—in the solar market—gaining access to the consumers moves through building relationships with the installers. What makes you easier to work with than other options the dealer has at their fingertips is critical.
It’s not just the lending terms, it means providing a self-serve portal environment, easy onboarding into your program and quick, automated credit decisions that allow them to close their deal while in that single meeting setting with the consumer. With native integration with application process verification tools, know that every aspect of the lending workflow is covered; property data, identity verification, and more.
Ready to build a better lending experience without the “build” part? Start with the suite of lending products and trusted team at Financial Network, Inc. Take a no-commitment product tour today to get started.
While we keep an eye on what’s coming next, and continue to stay educated and prepared to push the fintech industry forward, the loan origination software experts at FNI will keep providing insights and, of course, providing hands-on and high-level service to our loan origination platform partners. If you’re ready for direct access to decision strategy management and more, talk to a loan origination expert.
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