Showdown: Inovatec Javelin goes head-to-head with the traditional lending platforms. - Inovatec Systems
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Showdown: Inovatec Javelin goes head-to-head with the traditional lending platforms.

Post summary:

  • Is Bigger Really Better In Choosing An LOS/LMS?
  • What is Success Based Pricing & Why Is It Important Now?
  • Why Integration Is The Game Changer For New Markets
  • How OCR & Automation Drives Efficiency By 300%

Defi, FIS, MeridianLink+TCI. No doubt about it, these are the elephants in the room. The larger, slow moving organizations in the SAAS automotive and asset based lending space.

Once upon a time, some of them were agile upstarts with new ideas but one by one they’ve been consumed by larger organizations and their customers are left wondering… what happened? What happened to the innovation? What happened to customer service? What happened to the fast turnaround?

Elephants haven’t evolved for about 50 million years. And now, the market is evolving three times as fast as their platforms – they just can’t keep pace.

With the move to digital first – especially since COVID-19 – Lenders are looking for partners – not just vendors. They want partners who are forward thinking and agile enough to stay ahead of the market. They want responsive, streamlined tech providers who are focused on delivering value not just now, but well into the future.

This is why Inovatec Solutions is attracting attention. Inovatec has been around for over a decade and their lending platform JAVELIN has already established itself with leading lenders in Canada and the USA.

Inovatec is in-step with what is important to Lenders today – and tomorrow. For example, Inovatec was built to safeguard against book-to-look erosion which Lenders have suffered for many years, but particularly through the pandemic. Inovatec built its entire LOS model from the ground up around charging only for transactions booked. They only charge fees when everyone’s economic interests are aligned: the consumer, the dealer and the successful lender.

Do any of the other traditional lending platforms offer this kind of success pricing? No, they don’t. They are happy with the status quo where Lenders pay for every application, whether it results in a deal or not. 

The evidence is clear; the traditional players are fixated on pleasing their shareholders first. By comparison, Inovatec is successful only when Lenders book transactions, which makes Inovatec a partner, not just a vendor. 

The elephants are just too big and too focused on their own bottom line. Which is puzzling, with ears that big, you’d have thought they’d be listening more to their customers’ concerns.

How Do The Big Lending Platforms Stack Up To Inovatec Javelin?
Inovatec Competitive Matrix

Elephant jokes aside, take a look at a feature by feature comparison with the traditional lending platforms below, you’ll see that when it comes to features that really matter to Lenders now, Inovatec JAVELIN deserves your serious attention.

Success Based Pricing

With Inovatec JAVELIN you pay only for the transactions you book. With the traditional LOS platforms you’ll still pay for every credit lead, whether you close or not.

Highly Configurable

Inovatec JAVELIN makes it easy to customize workflows to align with how your team is working today – wherever they are. You can easily update current products or develop new ones to compete in today’s changing market. JAVELIN grows with you.

Seamless Integration

Inovatec JAVELIN was designed to offer unmatched configurability and business process automation. The modular design integrates seamlessly with existing systems through our Open API infrastructure, harmonizing partners, vendors, dealers, internal staff and management.

Again, companies like Defi and TCI fall down on this one. They just aren’t as nimble, innovative and customer focused as Inovatec JAVELIN.

OCR & Automation

Javelin’s has built in optical character recognition and advanced process automation. Across your whole business, Javelin has been shown to increase efficiencies by 300% or more. Imagine what that can do to your bottom line.

Traditional platforms just don’t offer advanced automation technology like OCR. But no doubt they’ll get to it… in the next couple of years.

Streamlined Interface

We know how frustrating and time consuming it can be to have to click through endless screens to access relevant data. That’s why Inovatec designed JAVELIN to give Lenders the ability to quickly and easily decision a deal, often with just a few clicks.

Some of these platforms are famous for how many screens it takes to get anything done. #carpaltunnel

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Trusted by North America’s largest lenders, Inovatec offers an integrated lending platform, including a LOS, LMS and Portal. But if you are looking for a single product, JAVELIN integrates beautifully with your existing tech stack.

Go ahead, and do your research. Put JAVELIN up against any of the traditional platforms, we are confident we will meet the needs of your business today – and tomorrow.

If you’re ready to update your system, we’d love to show you why JAVELIN is an industry leader – and the trusted choice for forward thinking lenders.

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