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Alchemy launches hybrid Branch and Mobile lending operating system

By Pavithra R

July 21, 2020

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Alchemy
Timothy Li, CEO of Alchemy

Alchemy, a FinTech infrastructure company that powers global FinTechs, banks and financial services, has announced the launch of their next generation of Lending Operating System (LOS) that combines brick and mortar operation and online lending experience under a seamless solution.

Alchemy’s new online and brick and mortar hybrid solution is built for today’s environment as well. Its digital, touch-less solution provides a great way of servicing to those who concerned regarding the COVID-19 virus spread.  The company has migrated all the existing customers and loans into the new lending system. Customers now have the choice of either visiting branch or continuing their experiences on their mobile phone. The solution is expected to enable brick and mortar clients to continue their operations even during a shutdown scenario due to COVID19.

Key features of the platform include seamless application handling and completion; integration with touch screen for signing promissory notes in the branch; mobile-friendly experience; integrated and load physical pre-paid debit card at the branch; seamless refinancing functionalities; full integration with online lead generators; direct Mail functionalities; call center technology integration; debit card and ACH payment gateways integration; distinct branch and online underwriting strategies; rule of 78 for state-licensed lenders and follows state by state rules and regulations and check printing technology.

“Working day and night with some of the most forward-thinking brick and mortar operators has been an eye-opening experience. Not only did we bring their operations to the 21st century, our technology also allows them to acquire customers from new channels. Their customers can transact at home and complete a finance transaction from end to end, they can also visit branches and complete the transactions there as well,” said Timothy Li, CEO of Alchemy.

Founded in 2018, Utah based Alchemy is an end-to-end cloud-based SaaS solution provider for banks, speciality financing companies, Point of Sale financing, and FinTech startups. Its end-to-end infrastructure offering includes end-user experience, merchant experience, decision engine, loan origination system, loan management system, payment gateways, and secondary market access. The company recently partnered with Skeps to build FinTech infrastructure with Blockchain.

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