Turnkey Lender Reviews

“Works but not the best

Pros

The collection feature is proven highly helpful for our business. It helps manage our loans and plan payments when needed. Also the user interface is easy to navigate which makes it simple to update loans. Also the service desk is excellent.

Cons

I come to a conclusion that Turnkey Lender is not very flexible when it comes to handling some niche requests. Also it struggles to accommodate certain flexible scenarios for consumers.

“Easy to customize

Pros

We required many unique features and custom development and I was really impressed with how the team built our specifications exactly as needed.

Cons

Well I think they should improve their graphics and design to give the platform a more modern and cutting-edge look.

“Our fav!

Pros

What I love the most about Turnkey Lender is how easy it is to integrate their API into your own platform. Also everything you can do in their UI is also possible through the API.

Cons

One thing I feel like is missing is that there are fields available in the platform and through the API but they are not available as merge fields when creating system documents.

“A highly customizable solution backed by a caring team

Pros

One thing I really appreciate about Turnkey Lender is that their team takes the time to understand our platform's requirements and customizes the solution exactly to what we need. With my previous platform we were often told No when we requested solutions or adjustments that would improve our workflow. With Turnkey the answer is always Yes, we will create a solution for you.

Cons

In the beginning the platform was a bit glitchy after launch. So it took some time of ours to work out all the bugs.

“Satisfied with both the support and the product

Pros

Turnkey Lender is very user friendly for those who have to work with it. Also I really very much the support we receive from their executives.

Cons

There are no physical offices near our headquarters which is all I wish for.

“Helping with the launch of our new financial product

Pros

It offers a fully packaged lending platform that is quick to deploy, affordable and customizable. Also this versatile platform covers most customer journeys from loan application processing to account management and collections, with many configurable features. And it makes testing new lending products easy without having to build the foundation for core lending processes and ledger systems.

Cons

Since this platform is designed for standardized lending, it is difficult for us to expand the product beyond its easily customizable features.

“A solid option for loan origination, underwriting and servicing

Pros

The box solution offers a lot of great turnkey features for lenders. The onboarding and setup process was comprehensive too. Plus there are several pre-built integrations for credit pulling, bank analysis, payment processing and e-signatures. And though the customizations require thorough analysis and gathering of requirements but the default decision engine is user friendly and impressive.

Cons

Though the box solution is priced well but once we start customizing, it can get expensive. Also some of the UI language and labels needed to be adjusted for the US market. There are also a few features missing from the Borrower Portal but they have added them to their product roadmap for future updates.

“5 out of 5

Pros

It is easy to set up and user friendly. Also the credit products are well built and offer a wide range of settings to create the perfect product customized to our needs.

Cons

I noticed some limitations with some of the investor module functionality.

“Great service and user-friendly

Pros

Not only is the system easy to but it also simple to configure and modify. Plus it makes the loan process much smoother for us and the decision making process is right there, which makes loan approvals feel more confident.

Cons

Integrating with various components rather than having everything built into the system is something I find quite tricky.

“Affordable and packed with great features

Pros

The overall value proposition is excellent as now we only use one system for POS, origination, funding and servicing. Also the implementation team is great and customer service is fast and friendly too.

Cons

Some of our desired modifications were not easy to implement and required custom work.

“Exceeding expectations and solving problems

Pros

As a nonprofit, efficiency and cost are essential for serving our sponsors and business owners. Plus the built in design helps streamline creating new products for new programs. I especially like the customer interface and the ability to collect documents during the application process in one easy step.

Cons

Since we work with small businesses providing grants and microloans it would be helpful to include features tailored to this segment as some lending features do not always meet our needs.

“Ideal for personal loans

Pros

One system for POS, LOS and servicing that is quite easy to customize and deploy. What else can I ask for as it has everything we were looking for.

Cons

The POS feature is limited in its ability to add questions which does not fit with where our company wants to take its strategy.

“Essential for running a loan business

Pros

The ease of automating processes and the consistently great support from Turnkey Lender whenever we have questions or issues is what I like most.

Cons

We have no cons to mention because any issues that arise are quickly resolved by the team.

“Offers every option you could need

Pros

After doing some research on lending software, we chose Turnkey Lender because it covers everything from loan origination to underwriting, servicing and collections. It has all the features we were looking for including collateral.

Cons

Integration has been a bit rocky. Also customer support has been tough to work with especially in getting the help and solutions we requested. However the onboarding team has helped ease this challenge. We did consider switching to another provider at one point because of the customer support issues but we ultimately could not find a more cost-effective alternative. This issue was resolved with onboarding training.

“Decent tool

Pros

It is easy to use for both our staff and customers. And the quick response from the Turnkey team is great.

Cons

Nothing to report for now. The software is good and we are happy with it.

“Lacks basic functionality

Pros

Nothing good to say as there are some errors and issues with everything and getting them fixed can be a hassle. It seems to me that most issues are outsourced.

Cons

There are limitations with document automation that can be frustrating and require additional software to work around. And when issues arise like payment schedule miscalculations, we cannot fix them on our own, so we have to contact them for a fix which costs extra. Also they lack the team to automate tasks effectively which makes the high rating a bit surprising.

“A fantastic fully automated loan management system

Pros

The automation is great from notifications to contracts being emailed to customers. As everything can be done online without any issues or wasting our time.

Cons

Well I feel like the decision levels could be more object-driven. Though recent implementations of authorizations have addressed this, still more automation and customization in this area would be great.

“Streamlined workflow efficiency with less manual intervention

Pros

Turnkey Lender helped us improve our processes and workflows after we had been managing our loan program manually for months. They captured all the basics and started automation and we can request further customization as needed. Also the platform is easy to use and their support team is always available when we need help. Our project manager has been quite helpful too and we have maintained a great relationship.

Cons

The cost of automation and organization is not cheap. While their existing platform offers a lot of functionality let me tell you that any further improvements may come at a higher price. Also the platform at times work slow which impacts productivity and efficiency. Plus getting custom changes from the application form out of the system via standard reporting requires additional development.

“At top of the game

Pros

The ease of use, the customizations we can achieve with the help of Turnkey Lender's Project Management and Accounts team and the software's suitability to our business requirements are what I value most.

Cons

I feel like the option to change the logo at the bottom of the redirected browser would be nice but even though it is not availble yet, it is not a deal-breaker since we can still display our company logo at the top and customize that page.

“Works great

Pros

It is very user-friendly and we are happy with it so far.

Cons

There are occasional bugs in the software but the team is always proactive and fixes any issues quickly once we identify them.