Lender Compliance Technologies
Lender Compliance Technologies specializes in compliance solutions for various lenders, offering a product called Refund Control to automate and manage loan product cancellations and refunds.
Series A Funding
Lender Compliance Technologies recently secured $4.15 million in a Series A funding round. This financial boost aims to enhance their capability in offering specialized compliance solutions for lenders in various sectors including automotive, RV, marine, and powersports.
Compliance Solutions for Lenders
Lender Compliance Technologies specializes in providing comprehensive compliance solutions tailor-made for lenders operating in the automotive, RV, marine, and powersports industries. Their solutions are designed to streamline operations and ensure adherence to industry regulations.
Refund Control Product Overview
One of the primary offerings from Lender Compliance Technologies is Refund Control. This lender-managed cancellation and refund system automates the process of canceling loan products, tracing notices, and verifying refund amounts through partnerships with over 600 providers. This is achieved via API, batch files, and direct communication. Refund Control delivers a full workflow from product cancellation through to consumer refunds, making it an essential tool for compliance and operational efficiency.
Regulator-Ready Features
Refund Control is designed with full auditability and regulatory compliance in mind, making it a reliable choice for banks, credit unions, and finance companies. The system provides operational workflow automation, letter templates, system defaults, and in-depth compliance and revenue Key Performance Indicator (KPI) reporting.
Headquarters in Southlake, Texas
Starting in October 2023, Lender Compliance Technologies will be headquartered in Southlake, Texas. This new location will serve as the central hub for their operations, supporting their growth and development in providing compliance solutions for the lending industry.