GLOSSARY: Loan origination software

What is ‘Loan origination software’?

 

Loan origination is the process by which a borrower applies for a new loan, and the lender processes that application. Loan origination software is software that banks use to originate and service the loan in front of the borrower. This software is triggered by the bank or consumer finance platform to start accruing the interest on the loan and send the borrower their monthly invoice.

 

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