OFAC integration (Filtering out people on Federal watchlists)

In v.6.8, TurnKey Lender Users get an integration with OFAC (U.S. Department of the Treasury, Office of Foreign Assets Control - Sanctions Programs and Information).

OFAC is a body in the US government that keeps track of countries, terrorists, and traffickers credit providers should avoid. This new integration simplifies the AML and KYC processes for lenders. It increases the security of a lending operation by making sure you're not doing business with someone on the Federal watchlists.

Link document templates on the Credit Product level

Lenders now can upload multiple templates of documents (e.g., Loan Agreement) into the system's Back-office and connect them to specific credit products. With this feature, the system generates documents based on the templates taken from the assigned Credit Product instead of the generic ones.

Displaying min/max APR per Credit Product

This feature lets the lender define and display the minimum and maximum APR when editing Credit Products. In addition to added operational flexibility, this also helps stay compliant with the regulations.

Custom transactions for future dates

With this new feature, handling of Promised-to-Pay clients becomes easier for collection officers. This functionality makes the loan repayment process even more flexible as the lender's staff can set future transaction dates from within their workspace.

Suspending automatic repayments

When a transaction is suspended from the Back-office, the system doesn't charge the repayments automatically. This feature makes the loan repayment process more flexible for the borrower.

Transactions & Payments Exporting

Our team receives many requests for advanced exporting functionality. To address that, in v.6.8, we're adding the ability for Back-office users to extract loan Transaction and Payment data in the form of well-structured Excel spreadsheets.

USAePay integration (USA)

We're adding another widely used integration to TurnKey Lender Box solution. USAePay payments integration supports both card and ACH transactions.

Please note: TurnKey Lender doesn't capture and store card details.

Bank account verification services integration (Plaid, Flinks)

TurnKey Lender can now be integrated with bank account verification services. Currently there are 2 such services available: Plaid (USA, Canada) and Flinks (Canada only).

This integration allows a customer to fill in their bank credentials and permit TurnKey Lender to check their account details automatically. The data we can access with services like Plaid includes balance, transactions, and other information required for making an informed credit decision and an accurate borrower evaluation. With this feature activated, the lender no longer needs to collect bank account details manually. This, in turn, further reduces human error and provides the bank account and routing number for ACH transactions.

Please note: TurnKey Lender doesn't capture and store card details.

API Clients Management

TurnKey Lender adds a new API key management feature. From now on, third-party services can easily work with TurnKey Lender Public API via their unique API Keys.

Google Analytics integration

Thanks to an integration with Google Analytics, the users of v.6.8 will be able to view their sales funnel from within the Back-office.

State Management (USA, Canada)

Administrator is now able to define the list of US/Canada states in which the credit organization is operating. After that, credit products can be bound to one or more states from this list. This is done to determine which credit products should be displayed to the borrower, depending on his/her state of living.

This functionality is available only for USA and Canada editions.