Banking platform, Phoenix International has expanded its solution to include loan origination, an end-to-end digital loan application and disbursement process. Lending institutions can leverage the offering to respond to the growing demand for digital services in Latin America and the Caribbean. The move was made possible through a partnership with automated lending company LoanCirrus.

The inclusion of the service provides financial institutions with end-to-end digital loan application and disbursement management, which in turn reduces loan processing delays and eliminates the need for customers to visit a branch.

 Utilizing the platform will allow consumers to access the most suitable lending products. Adoption of the service will improve the convenience of financial institutions to their customers, especially given the demand for user-friendly and easy customer experience.

“The addition of a loan origination module makes it easier for Phoenix International customers to improve their customer experience and drive additional value. Phoenix International is committed to increasing the adoption of fintech solutions in emerging markets, to drive financial inclusion,” said Dmitri Dawkins, Commercial Director for Phoenix International.

“Loan origination also allows us to help institutions to immediately improve their digital customer experience, while we help implement a long-term digital transformation strategy,” he noted.

LoanCirrus CEO, Michael Claire was equally elated to solidify the partnership and move to automated services by local companies and institutions.

“We are thrilled to integrate our modern, API-based capabilities with Phoenix International core banking solution. Together, these powerful technologies stand ready to help accelerate digital collaboration and transformation for our clients,” he explained.

Mr Claire added that the partnership will be impactful for all stakeholders.

“This is a mutually beneficial offering. The customer gets more automation, more power, more reach, and more flexibility. These are essential for the road ahead. For financial institutions, this is timely. The greatest technological disruption is expected to happen in the financial services industry, this partnership therefore, provides a stable transition support without having to compromise on the latest technologies that businesses need to remain relevant and competitive,” he stated.

The loan origination option is now available for new and existing Phoenix International customers, with the opportunity to customize their packages to include the new offering. More information on the solution can be found by visiting https://phoenixinternational.io

Phoenix International is a cloud banking platform offered by MC Systems- the technology member company of Jamaica National Group. MC Systems boasts an impressive lineup of full stack banking solutions such as Mobile Wallets, Remittance Integrations, ATM and Point of Sale Solutions. The company currently serves customers in the UK, North America, Caribbean, Latin America, and Continental Africa.