Average Ratings

6 Reviews
  • 3.5 / 5
    Overall
  • 4 / 5
    Ease of Use
  • 2.5 / 5
    Customer Service

Product Details

  • Starting Price
    $95.00/month/user
  • Deployment
    Cloud, SaaS, Web
  • Support
    24/7 (Live Rep)

Vendor Details

  • Compass Technologies
  • www.kwik-loan.com/
  • Founded 1999
  • United States

About Kwik-Loan

Kwik-Loan is a web-based software platform for consumer loan companies, designed to improve customer service, employee productivity and management capabilities. Kwik-Loan includes all the tools needed to operate and manage your operation. Features include solicitation, loan application processing and approval, pull and save credit bureau, document prep, insurance calcs and tracking, collections and reporting.


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Kwik-Loan Features

  • Amortization Schedule
  • Audit Trail
  • Closing Documents
  • Compliance Management
  • Customer Database
  • For Finance Industry
  • Loan Processing
  • Loan Submission Control
  • Mortgages
  • Online Application Acceptance
  • Accounting Management
  • Amortization Schedule
  • Application Management
  • Automatic Funds Distribution
  • Collateral Tracking
  • Collections Management
  • Compliance Management
  • Customer Database
  • Fee Management
  • Investor Management
  • Loan Processing

Kwik-Loan Reviews

We have been on the EnCompass loan platform for six years now and have been very pleased.

Nov 19, 2008
4/5
Overall
5 / 5
Ease of Use
3 / 5
Customer Support

Pros: We are a bank-owned finance company who converted from a stand alone loan platform to EnCompass. We initially converted since the EnCompass loan platform worked with our bank's AS400 and gave our staff the ability to access the data from any finance office or bank location. We also converted since EnCompass gave us the ability to quickly and efficiently process Real Estate Loans.

Our management team loves the ability that EnCompass has given them to quickly and efficiently open and manage new offices.

Another benefit to the EnCompass system is the ability to download and write custom reports called queries.

Previously on a stand alone system, our branches were responsible for running daily and monthly reports and forwarding to our headquarters. This was both costly and time consuming. Now our headquarters has the ability to run consolidated daily and monthly reports without having to involve the branches. This alone has increased our branches' loan production.

Cons: The only con that I have is with Customer Support. We do not like the new Compass preferred way of logging projects on the website. We can not adequately or efficiently review our outstanding issues as we could under the old way of using the Bridge-Access logging of issues. We prefer to communicate with Customer Support electronically instead of over the phone so that we have the information in writing. We are also dissatified with having to constantly follow-up on our issues since the new project tracking isn't adequately being used by Compass Support.

Overall: We have been on the EnCompass loan platform for six years now and have been very pleased with the system's features and performance.

We like the system and it's very user friendly. Training is very easy for new employees.

Nov 14, 2008
4/5
Overall
4 / 5
Ease of Use
3 / 5
Customer Support

Pros: We have 11 Branches and the system we were on didn't combine all the branches to where all branches could access other branches.

Cons: Need more communication when others have issues that will also effect other user in the state to have some kind of alert since to all users in the state.

Overall: We like the system and it's very user friendly. Training is very easy for new employees.

The product is a good product.

Nov 14, 2008
3/5
Overall
4 / 5
Ease of Use
3 / 5
Customer Support

Pros: This surevy is flawed in that it does not identify is 1 the best or is 5 the best!

Cons: Customer support

Overall: The product is a good product. However presently the system for customer is lacking when there are issues.

I would definitely recommend the EnCompass software.

Nov 14, 2008
5/5
Overall
5 / 5
Ease of Use
5 / 5
Customer Support

Pros: EnCompass has allowed us to handle and control our business from our home office or wherever our staff is located at the time. It allows us and our customers the flexibility to arrive at any of our locations for loan closings or payment remittances, with remote site printing, even if not at the owning office physical location. The administrative parameters are easy to change and modify, you are able to build new loan types or modify as needed with minimal feedback/direction from EnCompass support staff. By being able to offer access to collections and recovery staffs to the entire portfolio, we can collect from any location, not just the owning office. The controls available to prevent unauthorized transactions/changes or loan amounts, are a definite plus.

Cons: Compared to previous systems I have been on in my 30+ years experience, nothing earth shattering worth mentioning specifically.

Overall: I would definitely recommend the EnCompass software, because your in-house administrator can handle most modifications and changes needed, rather than having to wait for the software support staf to do something for you.

Once all of our problems are resolved and everything is working. I would be happy to do this review

Nov 14, 2008
2/5
Overall
3 / 5
Ease of Use
1 / 5
Customer Support

Pros: Met compliance needs

Cons: Difficult implementation

Overall: Once all of our problems are resolved and everything is working. I would be happy to do this review again.Right now I am disappointed.

I personally recommend the Encompass Loan Program to a small chain of finance companies.

Nov 14, 2008
3/5
Overall
2 / 5
Ease of Use
1 / 5
Customer Support

Pros: * It offers everything a chain of finance companies would want and needs.
* Connection to branch offices are live.
* ASP IBM Remote Server is an option.
* The company can controll the loan approval authority and every other aspect of the branches' daily operation.
* Reports are unlimited.
* Credit Reports are a built-in option.
* As the Credit Reports are generated, the Customers' installments and outstanding balances are populated into the application and financial statement.
* All documents are printed on plain paper, both legal and letter.
* All Checks are printed on check paper stock and does not need to be pre-printed.
* Built in General Ledger, CheckBook and Bank Reconciliation

Cons: * An additional very astute Corporate Office Employee must be fully trained on the Encompass System to resolve the problems and issues of the branch offices.
* Corporate Office upper-management oversight is labor intense.
* Branch errors are not contained within the branch and sent to a catch-all Branch 99.
* Cash Drawer errors are numerious.
* Customer Support is handeled at Compass' discreation, not when needed.
* One day delay on General Ledger updates
* ASP Remote Server Report generation is very slow during the day and extremely slow at month-end.
* Compass Technologies is not willing to modify the Encompass program for individual company needs.

Overall: I personally recommend the Encompass Loan Program to a small chain of finance companies. However, several areas of the program needs attention with a better Support Staff.
I would suggest that Compass-Technologies have a presence at the Louisiana Finance Association Conventions each year.