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SOLO is a data ingestion platform transforming how data is collected and activated for banks and lenders. As a Commercial Loan Origination System, SOLO creates a "record of truth" for each consumer allowing users to own their credit data, while banks query the data they need in real time, optimizing both efficiency and customer experience.
SOLO equips banks with frictionless applications, intake, data verification, and underwriting while eliminating the back and forth between customer and banker to put all parties on the same page at first introduction.
This guide provides a comprehensive overview of using SOLO as a commercial loan origination system, the problems it solves, its operational benefits, and how to implement SOLO at your institution.
What Is a Commercial Loan Origination System?
A Commercial Loan Origination System (CLOS) is a software platform designed to manage the entire loan origination process, from initial customer application to loan disbursement.
A CLOS integrates multiple workflows, automates key tasks, and provides tools for risk assessment, compliance checks, and decision-making to eliminate inefficiencies and reduce manual errors.
How Lenders Use SOLO for Loan Origination
01 PULL is SOLO’s solution for lenders to automate the credit process from onboarding to underwriting.
How SOLO 01 PULL works for loan originations:
Frictionless Data Collection: the PULL platform’s borrower onboarding portal makes customer data collection seamless.
SOLO PULL does the paperwork for your borrower. Loan applications are autofilled from borrower-permissioned account integrations and their documents uploaded directly to the application.
Lenders build their custom application using PULL’s drag and drop editor. No code required. Underwriting teams apply their own accounting methods to determine each autofilled field.
SOLO-powered loan applications support 4,000+ account integrations for borrowers to opt in to data sharing, and can ingest any document a lender may require for underwriting a loan application.
Extract every data point from any file, including unstructured data like ISO applications, PDF documents, bank statements, tax returns, and more. SOLO re-builds into your standard format. Try it out.
Borrower Data Ingestion: Borrower information is distilled into raw data points, then rebuilt as a real-time ledger of complete credit data per customer. Lenders gain the ability to analyze the full 360* of credit data for every borrower,
Financial statements are all autonomously created from the raw data, so every data point is fully verified, auditable, and traceable in this record of truth per customer.
Automated Underwriting: Data fields collected by SOLO-powered applications are pre-connected to a customized reporting engine, so data syncs directly into your underwriting spread. Decisions can be made with full trust in the
Stay Synced and Continuously Underwrite: Proactively match borrowers to products as their business grows. The SOLO framework enables lenders to continuously underwrite the full picture of a borrower’s financials in real time, for every product in the matrix, all from a single application.
Demo SOLO:
SOLO Loan Origination System Results
01 PULL from SOLO One enables banks, credit unions, and lenders to turn data collection into a competitive advantage, enabling lenders for loan origination growth with::
Scalable Underwriting Power: Manual processes can be time-consuming and prone to errors.
Unified Data Silos: Disconnected systems hinder collaboration and delay decision-making.
De-Risk Credit Decisions: Keeping up with regulatory requirements is complex and resource-intensive.
Improved Customer Experience
Increased Lifetime Value: Lengthy loan approval times can frustrate borrowers and harm relationships.
Implementing SOLO as a Commercial Loan Origination System
SOLO provides lenders with hands on support prior to and throughout implementation of 01 PULL as a commercial loan origination system.
Our process is developed to efficiently gauge a lender’s potential optimization through SOLO prior to fully adopting the commercial loan origination system.
Discovery: demo the platform and review your unique underwriting process with SOLO engineers.
Data Test: sample SOLO’s capability for out of the box functionality and identify need for further customization.
Proof of Concept: Assess SOLO’s workflow using your data, your process.
Implementation: SOLO develops your environment, trains essential team members, and integrates to essential systems.
Monitor and Optimize: Continuously monitor the CLOS system's performance and refine processes as needed to enhance functionality.
SOLO One for Loan Origination
Learn How to Automate Onboarding to Underwriting, Turning Data Collection from Tedious Task to Competitive Advantage
SOLO Commercial Loan Origination System: Turn Data Collection Into A Competitive Advantage
Make Data Collection A Competitive Advantage. Transform a single application into an ongoing record of truth for every customer. Continuously underwrite the full picture, for every product in your matrix, all from a single application.
