Loan origination software is a platform for centrally managing and automating different stages of the loan servicing cycle, i.e., loan application, document verification and credit approval, with automated underwriting.

For instance, during the loan application stage, the loan officer can add a borrower's details—such as income, credit history and assets—to the solution's dashboard.

The software speeds up the whole process of fetching a suitable plan from the loan portfolio by automating it.

Using loan origination software, businesses can process and approve loans faster.