Turnkey Lender Pricing, Features, Reviews & Comparison of Alternatives

Turnkey Lender

Unified Lending Management Software

4.5/5 (16 reviews)

Turnkey Lender overview

What is Turnkey Lender?

TurnKey Lender is a global leader in ULM (Unified Lending Management) solutions and services. The company provides an end-to-end system that automates every step of the lending process, from the loan application and borrower evaluation to origination, underwriting, servicing, collection, reporting, compliance, and more. The TurnKey Lender system is powered by proprietary deep neural networks and machine learning algorithms that allow for unmatched credit decisioning accuracy and overall security.
turnkey-lender.com

Pricing

Pricing options
One time license
Subscription
Free trial
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States, Canada, United Kingdom, Australia, China and 5 other markets, India, Japan, Germany, Brazil, Mexico

Supported languages

English, Czech, French, Indonesian, Korean and 4 other languages, Portuguese, Russian, Spanish, Ukrainian
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Turnkey Lender reviews

Value for money
Features
Ease of use
Customer support
  4.0
  4.2
  4.4
  4.3
Christopher Reed

Great product - excellent support!

Reviewed 2016-04-29
Review Source: GetApp

We used Turnkey Lender to stand up a loan origination system for veterinary services in short order. The product has the vast majority of the functionality right out of the box, was easily integrated with a credit agency to pull FICO scores and the support team did an outstanding job making our requested customizations.

Pros
Solid COTS product and very customer oriented support team.

Cons
While they do offer a SAAS model, pricing seems to be slanted toward outright licensing of the product. This might be something to refine.

Rating breakdown

Value for money
Ease of use
Customer support

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Janielle Myers

Time saving automation

Used weekly for less than 6 months
Reviewed 2020-04-06
Review Source: Capterra

Overall the functionality has been a big positive. The initial set up fees were a bit steep but the ongoing rate is comparable.

Pros
I like the automation, it saves a lot of time moving the loan from origination to servicing and prepopulating the necessary documents. I also like that it has a customer portal where customers can see their balance, update payment methods, and upload documents to us, like proof of insurance. There are a lot of automated emails that help customers stay on top of getting us the required documents, which saves time.

Cons
Some of the set up was awkward. In one area it would have you use one code and then on the help page it would be a different code for the same item. The help team set up some of my codes because I didn't know which one I was supposed to be using.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Christer Odden

I do not recommend

Used daily for 1-2 years
Reviewed 2020-07-13
Review Source: Capterra

The worst system/platform I have ever worked with. Even if we stated everything in the original documents, they still managed to take 1,5 years to get things starting, and when they started it all went down every day. All things have two sides, but in this matter, I will blame everything over on Turnkey. They have cost us so much money and we have had problems from day one. Nothing has worked, we have found bugs every day for 1,5 years even if they tell us they have fixed it. I know they will reply that "this is due to client functions and xx xx xx" (as they do for all that complaints) but I am willing to document it all, for those who are interested. I respect some of the workers there, but I will never ever again have something to with them again. The management completely ignores you when you complain, they point the fingers on you and they say it´s your fault, no matter how often you document that, it´s not our fault. For companies that needs a stable broker/application/fintech service, stay away from them and their solution. I do not recommend them.

Pros
There was NO pros with this software at all

Cons
Slow system, not flexible, server crashed, no understanding

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 0/10

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Thomas Pang

Very User Friendly Software to Grow Your Business

Used daily for 6-12 months
Reviewed 2020-01-16
Review Source: Capterra

Software Capability wise is unquestionably great but for any new potential customer who are interested in this solution, these would be my advise to you. 1) Trial the software as much as you can in order to understand how the entire system works. Best is if you form a team dedicated in testing the software and all the nitty gritty details, documenting how the behaviors works. If you are not sure about how it works, ask plenty of questions and follow up questions. They are very professional on this. 2) Make sure you evaluate well whether this software can fit into your company business plans or not. It may take longer time for you but it will save you a lot trouble in the long run. 3) Ask lots of questions during the initial phase and requirement phase. Its very important. Our experiences with Turnkey Lender is they tend to be open for negotiation on most things in regards of pricing, requirement and support. Kindly negotiate.

Pros
When you trial the software, you can know that they know their stuffs well. If your current solution can only gives you a 10 million portfolio monthly max and you would like to grow it to 100 million portfolio and above, this is the one that can give you the power to achieve it 1) Ease of Use. From Customer's Origination status to Bad Debt Status, the borrower will move into the relevant status automatically 2) Notifications to customers can be via SMS or Email. Customizing your notifications to your borrowers is very easy. 3) Easy File Export. File export can be easily exported by stating the correct status and the dates, available in excel and csv 4) Flexible customization for your credit products. Credit products can easily customized with your own interest rate, min and max loan amount and etc 5) fast customization and deployment 6) Scoring modules 7) Can launch a new offering easily

Cons
1) Stock version is mostly based on US requirements. For organizations not based in US which would like to use it, some customization will be needed in order to meet their needs. I would hope for more regional requirements will be appearing in the solutions 2) Many Processes are automated. Not exactly a con but more like a mental preparation for Organization that wants to grow from 10 million to 100 million monthly, some existing flexible processes that assist you to grow from 0 to 10 million will need to be discarded and this software will help you in a great way. 3) Most of the new updates done by Turnkey Lender will only be applicable to users who are using the stock version. If your solution is heavily customized, receiving new updates will be very subjective or not available. Its very important to include this into your initial contract negotiations on how this can be done. 3) Pricing is only in USD. Hope to see charging in regional currencies instead of USD.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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cesar brito

A fairly simple but powerful software in finance

Used daily for 1-2 years
Reviewed 2018-02-22
Review Source: Capterra

practicality, effectiveness and performance to administer loans in a faster and more versatile fashion

Pros
It is a very versatile tool, easy and practical to use, our clients have inclined to make it a fundamental part in their administrative environment in view of the fact that the flow processes of origin, loan and payment can be monitored in a well-disaggregated manner. its relation of cost by investment is quite low compared to other applications since it does not generate large impacts of application to a medium company or to a personal level if it is worked directly with loans, advances and short term promissory notes. it is possible to have multiple users, in which each one can manage their functions separately and without invading the privacy or administration level of the current assets, it is important to recognize that to create such a complete software, the corresponding studies on the matenan and It is a very important point to highlight, which speaks very well of an application with a tendency to evolve.

Cons
It only needs an improvement to be able to carry out credit lines online, which would make the client-supplier personal time and interaction more manageable.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Turnkey Lender features

API
Accounting Management
Automatic Notifications
Compliance Management
Data Import/Export
Electronic Payments
Third Party Integration

Accounting Integration (163 other apps)
Activity Dashboard (228 other apps)
Audit Trail (138 other apps)
Billing & Invoicing (187 other apps)
Customizable Reporting (172 other apps)
Expense Tracking (164 other apps)
Financial Analysis (130 other apps)
Invoice Management (235 other apps)
Invoice Processing (152 other apps)
Multi-Currency (166 other apps)
Real Time Data (147 other apps)
Reporting & Statistics (260 other apps)
Workflow Management (152 other apps)

Videos and tutorials

Additional information for Turnkey Lender

Key features of Turnkey Lender

  • 360 degree feedback
  • API
  • Automatic notifications
  • Business intelligence
  • Digital signature
  • Electronic payments
  • Fraud detection
  • Online payment processing
  • Portfolio management
  • Pre-screening
  • Predictive analytics
  • Risk assessment
  • Rules-based workflow
  • activity
View All Features

Benefits

• Turnkey Lender can be used immediately after purchase.
• Precise credit risk assessment.
• Turnkey Lender can be used for online lending, in branches or by doorstep loan agents.
• Built-in credit risk management with an integrated scoring and adjustable decision rules.
• Modular structure – additional modules can be added when needed.
• Extremely intuitive interfaces for originators, underwriters, collateral and servicing managers, collectors.
• Built-in integrations with credit bureaus and other data sources.
• Available on cloud or on-premise.
• Turnkey Lender automates all stages of a loan life cycle – from loan application processing and underwriting to collection and portfolio reporting.
• Proven industry practices used in the leading digital banks are condensed into Turnkey Lender's out-of-the-box solution.