Loan IQ implementation
Transition from multiple lending management solutions to a single Loan IQ platform and reduce costs, improve efficiency and boost business agility as a result. As a long-time Finastra Loan IQ partner, we have what it takes to help you make the most out of your investment.
Luxoft’s industry-leading Loan IQ capabilities
Under our Loan IQ consulting services, we can assist you with TOM scoping, roadmap planning, proof of concept development, buy vs. build analysis, vendor selection and request for proposal preparation.
We offer comprehensive program and project management services, along with planning and PMO. Our collaboration involves an engagement model tailored to your needs with flexible risk sharing.
Under our agile delivery model, we can take care of migrating your data and workflows to Loan IQ, integrating the system, and configuring and customizing it. We’re also specialists in upgrading Loan IQ.
Our expertise covers the whole Loan IQ product line and all of its modules. Our Finastra partnership enables us to leverage the latest advances and best practices in Loan IQ customization and integration.
We’re here for you after your Loan IQ system goes live by addressing support team training and/or moving into a managed services vendor role.
Loan IQ advantages
Cost savings
With Loan IQ, you no longer have to allocate funds to maintain multiple systems. Loan IQ replaces them with a single platform, reducing IT support costs by 30%, integration costs by 50% and IT maintenance costs by 20-80%.
More efficient resource allocation
With Loan IQ implementation, you can easily view non-performing loans, allowing you to mitigate risks and allocate funds more efficiently. As a result, you can manage more loans or dedicate resources to a new line of business.
Boosted efficiency
Loan IQ enables you to automate tedious workflows and optimize non-automatable tasks to reduce headcount by 20-40%. The platform cuts down loan processing time by 20-30%, speeds up deals by 20-50% and accelerates calculations by 30-80%.
Improved transparency
Loan IQ implementation enables you to streamline regulatory compliance and risk management with a single source of reliable, high-quality data. Loan IQ can also help you reduce loan defaults by 20% and make report creation 90% faster.
Unparalleled flexibility
With Luxoft’s help, you can tailor Loan IQ to your particular needs. The system is designed to be highly customizable and scalable. You can choose to integrate it as an installed solution or consume it as-a-Service to benefit from lower costs and accelerated time-to-market.
To learn more about Finastra solutions visit this page
Loan IQ solution features
Loan IQ is the industry-leading all-in-one commercial lending solution that supports multiple loan types, from commercial real estate and agricultural to asset-based and project loans.
Lifecycle management
Loan IQ brings together all the functionality necessary for servicing loans on the agency level, allowing you to streamline processes, mitigate risks and minimize errors.
Deal management
Loan IQ simplifies servicing complex syndicated deals involving multiple lenders. No matter the complexity of the deal, Loan IQ can handle it.
Trading monitoring and management
Loan IQ allows you to monitor all back-office transactions in real time. The solution supports multi-currency and multi-branch data aggregation and analytics.
Workflow optimization
Loan IQ comes with powerful automation functionality that allows for streamlining whole workflows across all loan booking and processing operations.
Accounting and audit control
Loan IQ simplifies accounting with robust online accounting features and real-time debit and credit data for multi-branch and multi-business operations.
Portfolio management and insights
Loan IQ provides you with comprehensive data on all of your portfolios’ performance, enabling you to better manage risks on the enterprise level.
Why Luxoft
Years-long Finastra partnership
Luxoft has been a trusted Finastra partner since 2006. As a Loan IQ partner, we possess comprehensive Loan IQ module knowledge and follow the latest best practices. This allows us to tailor the solution to our client’s unique needs and ensure the rollout is smooth and risk-free.
Full spectrum of end-to-end services
From advisory to cloud enablement, our Loan IQ experts can tackle challenges of any complexity at all stages of involvement. We can take care of greenfield implementations, upgrades, extensions, migrations, testing, support, maintenance and more.
Industry experience
As Loan IQ consultants and integration specialists, our expertise goes beyond Loan IQ. We also have 45+ years of experience serving the banking and capital markets industry, allowing us to understand and solve the most complex of business challenges.
Global presence
With 61 offices across 28 countries, we can offer truly global expertise — and a blend of onsite and offshore delivery resources that suit your needs best. Our location-specific expertise also allows us to tailor your Loan IQ system to local regulatory and market requirements.
Personal touch
We adapt our engagement model to your needs and preferences when you choose us for Loan IQ implementation. Under our managed services, we can take on post-deployment maintenance and support to ensure you continue making the most out of your investment.
Make your transition to Loan IQ smooth with Luxoft
FAQ
Luxoft is a strategic Finastra partner, with our relationship spanning almost two decades. This allows us to leverage the latest Loan IQ integration best practices and support our clients after the implementation is complete.
Our Loan IQ expertise spans all aspects of implementation, allowing us to become your full-service Loan IQ partner in the long run:
- Advisory: Target operating model scoping, roadmap planning, proof of concept, buy vs. build analysis, vendor selection, RFP preparation
- Planning and organization: Program and project planning and management under a flexible engagement model
- Implementation: Migration, greenfield implementation, configuration and customization, architecture and DevOps implementation
- Post-deployment support: Training and center of excellence planning, managed services
Loan IQ integration allows you to reap the following five key benefits:
- Reduced IT support, maintenance and integration costs, as well as reduced complexity thanks to its all-in-one approach to commercial lending management
- Improved resource allocation thanks to Loan IQ’s robust non-performing loan identification functionality
- Enhanced efficiency thanks to Loan IQ’s robust automation features that speed up loan processing, calculations, report creating and more
- Streamlined regulatory compliance and enhanced decision-making as Loan IQ becomes a single source of truth for all data related to loan performance
- Enhanced business agility as Loan IQ supports all loan types, from commercial real estate to agricultural and project loans, multi-currency transactions and multi-branch management
The implementation costs depend on a variety of factors, from customizations required to the scope of migration necessary. Of course, you also have to factor in the costs of the solution itself, as well as its support and maintenance in the long run.
That said, bringing all of your commercial lending operations into one solution allows you to reduce costs across the board. For example, IT maintenance costs alone can be reduced by as much as 80%.
If you’d like to have a detailed breakdown of Loan IQ implementation costs based on your particular context and requirements, don’t hesitate to contact us. We’ll get back to you to discuss your project and provide you with an estimate following the discussion.
