Verifacto, a leading innovator in loan management technology, is proud to announce the launch of its Loan Virtual Assistant (LVA), a cutting-edge mobile solution designed to enhance borrower experience, reduce delinquency rates, and optimize lender operations. Available for free to all LMS/DMS users, LVA simplifies the loan payment process, providing seamless mobile payment scheduling, real-time notifications, and self-service management tools that improve borrower engagement while lowering servicing costs for lenders.

A New Era in Mobile Loan Management

Managing loan payments has traditionally been cumbersome for borrowers, leading to missed payments, high delinquency rates, and operational inefficiencies for lenders. With Verifacto’s Loan Virtual Assistant, borrowers gain instant, mobile-first access to their loan accounts, ensuring they stay on top of due dates while enjoying a streamlined, user-friendly experience.

“Our goal is to revolutionize the way borrowers and lenders interact with loan management,” said Hezi Moore, CEO of Verifacto. “With LVA, we are empowering borrowers with self-service tools and automated reminders that reduce delinquencies while enabling lenders to cut operational costs and improve overall loan performance.“

Key Features and Benefits

Smart Payment Scheduling

• One-click access to make, schedule, or automate payments.
• Automated due-date reminders via SMS, email, WhatsApp, and push notifications.

Push Notifications: A Game-Changer for On-Time Payments
Studies have shown that push notifications are 50% more effective than email and SMS reminders in prompting timely payments (McKinsey, 2024). Verifacto’s LVA integrates real-time, proactive alerts to ensure borrowers never miss a payment, significantly reducing delinquencies.

Self-Service Borrower Tools

• Instant access to loan balances, due dates, and payment history.
• Biometric authentication (Face ID & fingerprint) for secure, password-free login.
• Automated insurance tracking and CPI enrollment to ensure compliance.

Reducing Lender Costs and Improving Cash Flow

• Eliminates up to 50% of servicing inquiries by enabling borrower self-management.
• Automated payment scheduling improves cash flow predictability by 30% (NCUA, 2024).
• Lenders using Verifacto’s LVA have seen an average 42% increase in on-time payments.

A Competitive Edge for Lenders

Unlike traditional loan servicing platforms, Verifacto’s LVA is offered at no additional cost to all LMS/DMS users. This positions Verifacto as a leader in digital-first loan management, ensuring that lenders remain ahead of industry trends in borrower engagement and loan servicing efficiency.

About Verifacto

Verifacto is a leading provider of loan management technology, committed to empowering lenders with innovative, data-driven solutions that streamline operations and improve borrower retention. Through automation, real-time analytics, and seamless borrower engagement tools, Verifacto helps financial institutions reduce risk, optimize compliance, and enhance profitability.