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The Payday Loan Forum - Industry Development Through Community Out Reach > Payday Loan Services Forum > Empower Payday Loan Software (Moderators: Chec King, GRodriguez) > Online Payday Applications
Poll
Question: Does your company have an online application process for payday loans
yes - 1 (25%)
no - 1 (25%)
working on implementation - 0 (0%)
need help with implementation - 0 (0%)
not a company priority - 2 (50%)
have considered it but don't know how to start - 0 (0%)
no interest in online applications - 0 (0%)
Total Voters: 3

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Author Topic: Online Payday Applications  (Read 842 times)
phison
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Enabling payday lenders to the online experience


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« on: August 11, 2008, 05:46:31 PM »
We would be interested in your response to the above question.  National research results from Forrester and other well known financial research firms indicate that online application processes will grow significantly over the next 5 years at a rate of 55%.  The main driving factors are:
1.)  Creating a highly effective adoption strategy to help improve online site usage
2.)  Customer approval of visable security features that give the user a hightened sense of security.
3.)  Online rules engines that effectively shorten the process from application data entry to lending approval 
« Last Edit: August 12, 2008, 01:34:21 PM by phison » Logged
Philip Johnson Business Consultant
POB 20488
Portland, OR  97294
503-256-1722  Wk.
503-256-1723  Fax
503-781-8782  Cell
phison@earthlink.net
http://www.linkedin.com/in/philipsedynamic
Chicha
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« Reply #1 on: January 26, 2010, 01:24:35 AM »
iam looking for a software application which is web based and can be used in all markets. could someone please assist with a lead for the best application for payday loans
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GRodriguez
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Posts: 36


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« Reply #2 on: March 01, 2010, 03:06:51 PM »
Phil, I wouldn't be surprised if your estimation of growth is correct.



Software?  Email me to schedule a demo of Empower.

-Gabriel Rodriguez
synapticdatabase.com
gabe.rodriguez@synapticdatabase.com
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AlTheLoanGuy
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« Reply #3 on: March 02, 2010, 12:33:16 PM »
how come i can't vote!
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What is a  payday loan? Learn more at our payday loan blog
GRodriguez
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« Reply #4 on: March 02, 2010, 04:15:31 PM »
Quote from: AlTheLoanGuy on March 02, 2010, 12:33:16 PM
how come i can't vote!

There you go Al, should be fixed!!
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AlTheLoanGuy
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« Reply #5 on: March 16, 2010, 02:46:09 PM »
Quote from: GRodriguez on March 02, 2010, 04:15:31 PM
Quote from: AlTheLoanGuy on March 02, 2010, 12:33:16 PM
how come i can't vote!

There you go Al, should be fixed!!

thank alot
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What is a  payday loan? Learn more at our payday loan blog
AlTheLoanGuy
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« Reply #6 on: March 16, 2010, 02:47:33 PM »
btw our company is using a third party i hope soon we can host our own application which helps us understand conversion better
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What is a  payday loan? Learn more at our payday loan blog
GRodriguez
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« Reply #7 on: March 16, 2010, 03:35:48 PM »
Quote from: AlTheLoanGuy on March 16, 2010, 02:47:33 PM
btw our company is using a third party i hope soon we can host our own application which helps us understand conversion better

Definitely!  Choosing the right software can be crucial, in order to organize and store the data necessary to make informed decisions regarding your payday lending business.

For example, we are currently implementing our software for a client, and converting their old data to fit into our system. 

CAN YOU BELIEVE that their old system stores LESS data for an entire Loan and Customer, than we do for even one single transaction?  Sometimes I forget how amazing our Loan Software is until I see what the rest of the industry is using!!  It's like the difference between using Microsoft Office, or writing everything down with a broken crayon and a napkin.   Understanding and organizing your data is KEY in this business.
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