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Finding the right loan origination system for your bank or credit union is vital to a successful lending strategy. The implementation of that system is just as important; the setup of your system sets the course for your team and the success or failure of your financial institution’s lending goals.

In every project, successful implementation depends on three essential stages – planning, organization, and execution. When you think about it, your implementation needs to be just as calculated and coordinated as your overall lending programs and strategies. You can’t just wing it if you want things to go smoothly. Much like assessing how loan software will be able to fit and enhance your current operations, the same type of effort must be invested when the decision has been made and it’s time to integrate that platform with your programs. To help you figure out whether your loan software provider can deliver a successful implementation, it’s important to focus on these key factors: