Some of Gartner’s findings in these reports, for banks that desire to simplify loan origination, are:
- “Few retail loan origination vendors to choose from because of the lack of end-to-end functional, technology and regional support;”
- “Few vendors provide support across all four lending instruments reviewed in this (Retail Loan Origination) survey;”
- “Few vendor solutions provide support across all major commercial lending instruments;”
- “Few retail loan origination applications are platform-independent and database-independent, which provides IT with flexibility now and in the future;”
- “SaaS is an increasingly important delivery model option for retail and commercial loan origination;”
- “Banks should not dismiss a build or framework approach to loan origination transformation.”
Aldo Bruschi, CRIF Decision Solutions Offering Director, comments “Providing innovative and flexible lending solutions is one of our core strengths so we are thrilled that CRIF is one of the few vendors cited in these Gartner reports with end-to-end functionality supporting all loan origination phases and all lending instruments both for retail and business segments. CRIF also has the underlying technology and framework approach which Gartner is recommending.”
As indicated in the Gartner reports, 804 finance institutions worldwide use CRIF’s retail loan origination solutions and 214 finance institutions worldwide use CRIF’s commercial loan origination solutions. Compared with other vendors cited in the Gartner reports, CRIF ranks first out of 32 vendors in the number of retail loan origination customers worldwide and fourth out of 27 vendors in number of commercial loan origination customers worldwide.
CRIF loan origination solutions cited in the Gartner reports are:
- CRIF ACTion and Cypress, offered in North America
- CRIF Credit Framework, offered globally, whose products cited include CreditFlow, CRIF’s solution for end-to-end credit process management, and StrategyOne, CRIF’s strategic decision management solution.
The Credit Framework which is used by hundreds of institutions across 20 countries is comprised of process management, decision management, and business intelligence components geared towards business users to implement dynamic, optimized and governable credit process solutions from customer targeting and acquisition to customer management and debt collection.
