TurnKey Lender
| File:TurnKey Lender logo full light.png | |
| Private company | |
| ISIN | 🆔 |
| Industry | Banking Software |
| Founded 📆 | 2014 |
| Founder 👔 | |
| Headquarters 🏙️ | Austin, Texas |
Area served 🗺️ | Worldwide |
Key people | Dmitry Voronenko (Founder & CEO) Elena Ionenko (COO) |
| Products 📟 | Loan Origination Software) Loan Management Software |
| Members | |
Number of employees | 165 |
| 🌐 Website | turnkey-lender.com |
| 📇 Address | |
| 📞 telephone | |
TurnKey Lender is an international FinTech SaaS company specializing in loan origination, underwriting, loan servicing, debt collection software for lenders.[1][2][3][4][5] The company was established in 2014 by Dmitry Voronenko, who has served as the company's CEO since its inception and Elena Ionenko. Based out of Austin, Texas, the company has satellite offices in the United Kingdom, Canada, Australia, Singapore,[6] Malaysia, and Poland.[7]
Development history[edit]
TurnKey Lender was established in 2014 by Dmitry Voronenko and Elena Ionenko.[3][8] The company launched the R&D center in Ukraine which allowed for the release of the first edition of TurnKey Lender Box platform aimed at end-to-end automation of the lending process for alternative non-bank lenders.[3] In 2015, TurnKey Lender opened an office in the United Kingdom to represent enterprise clients in the UK and the USA.[7] In 2016, the company moved its headquarters to Singapore to be closer to the rapidly developing ASEAN market and to facilitate financial inclusion in the emerging markets of Asia with AI-powered lending software.[7] During that year, TurnKey Lender also achieved the ISO/IEC 27001:2013 and ISO 9001 certifications and launched two new products - Turnkey Lender Enterprise platform for large-scale creditors and the first edition of its AI-driven credit scoring engine.[9] In 2017, TurnKey Lender signed its first client in the banking sector and introduced both peer-to-peer lending automation and a unified approach to digital lending automation in its Unified Lending Management software. The software came with a new bank-grade configurable decision engine built-in with integrated support of big data credit scoring and predictive modeling based on machine learning.[10] In 2019, TurnKey Lender established new HQ in Austin, Texas and a new customer support and R&D center in Kuala Lumpur, Malaysia.[7] The same year, the company also received accreditation from IMDA Singapore to operate financial markets in Singapore.[6] In 2020, TurnKey Lender received the SOC 2 Type II certification,[11] opened a new office in Warsaw, Poland,[7] and launched new software program for merchant cash advance businesses. The company has been funded in Series A rounds by several venture capital and private equity funds, such as Vertex Ventures, OSK Ventures,[12] KfW DEG and Enterprise Singapore.[1][2][13][14][15][16]
Services and industry applications[edit]
TurnKey Lender applies proprietary AI and Big Data analytics throughout the lending process to automate operational decisions taking place during different stages of the loan life-cycle, including loan origination, underwriting, collateral management, loan servicing, collection, reporting, and borrower relations for alternative, embedded, and traditional lenders in the target markets. Credit scoring models utilized in the TurnKey Lender Decision Engine rely on self-learning algorithms and deep neural networks to process both alternative and conventional risk assessment data and provide creditors with automatic loan decisions.[4][5][17][18] TurnKey Lender's activity is focused on automation for consumer and business lenders and on online banking industry. The company's most renown clients and partners include Siemens, H&R Block, Globe Telecom, Cebuana Lhuillier Bank, National Iron Bank, Hewlett Packard,[19] Thomson Reuters, REPAY, and Alkami, among others.[20][21][22]
References[edit]
- ↑ 1.0 1.1 "DEG, SEEDS Capital back Singapore fintech startup Turnkey Lender". Business Times.
- ↑ 2.0 2.1 "Fintech startup born in Ukraine, raised in Singapore closes $2m series A round". Tech in Asia.
- ↑ 3.0 3.1 3.2 "TurnKey Lender Pte Ltd". Bloomberg.
- ↑ 4.0 4.1 "TurnKey Lender". Capterra.
- ↑ 5.0 5.1 "Turnkey Lender Pricing, Features, Reviews and Alternatives". GetApp.
- ↑ 6.0 6.1 "TURNKEY LENDER RECEIVES AN ACCREDITATION FROM IMDA SINGAPORE". Financial IT.
- ↑ 7.0 7.1 7.2 7.3 7.4 "Headquarters and locations". Official website.
- ↑ "Banks Brace For New Competitive Forces In Commercial Lending". PYMNTS.
- ↑ "Turnkey Lender Launches a New Platform for On-Line Lending in Singapore to Serve SEA Market". www.businesswire.com. 2016-05-18. Retrieved 2021-09-02.
- ↑ "TurnKey lender Launches Free Edition of its Lending Software". TurnKey Lender.
- ↑ "TURNKEY LENDER SUCCESSFULLY PASSES SOC 2 TYPE II AUDIT". TurnKey Lender.
- ↑ "TurnKey Lender locks in new investment from OSK Ventures". FinTech Futures.
- ↑ "Turnkey Lender uses machine learning and data analysis to understand potential loan applicants, ranging from small scale to large scale loans". The Independent News & Media.
- ↑ "Back to Blog Turnkey Lender Raises $2 Million in Series A". Finovate.
- ↑ "AI fintech firm TurnKey Lender secures $6.1m in DEG-led round". Technology in Asia.
- ↑ "Turnkey Lender pushes regional expansion plan with fresh funding". KrAsia.
- ↑ "Review of Turnkey Lender loan servicing software". Bankless Times.
- ↑ "TurnKey Lender founder Dmitry Voronenko to take part in SBR's Hottest Startups Panel Briefing 2018". Singapore Business Review.
- ↑ "Turnkey Lender Collaborates With Hewlett Packard To Offer Improved Lending Solutions". FinTechNews.
- ↑ "Siemens Financial Services Chooses TurnKey Lender for Digital Transformation". Equipment Finance Advisor.
- ↑ "The U.S. Black Chambers (USBC) Selects TurnKey Lender As Its Lending-Platform Provider for Distributing Small-Business Loans to Black-Owned Businesses". Yahoo Finance.
- ↑ "Turnkey Lender & Peppermint Innovation enable financial inclusion for unbanked Filipinos". IBS Intelligence.
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