Traditionally, lenders relied on merchants offering their financing products at point of sale, typically promotional flyers and brochures next to the cash register.  The moneymoves platform can pre-approve customers before they leave the comfort of their home.

The process:

1. moneymoves loan applications are processed on PATH (Proprietary Automated Transaction Hub). 

2, PATH collects important customer information necessary to obtain an accurate credit profile from rating agencies such as Equifax and Transunion. 

3. If approved, PATH offers the customer a Conditional Approval, interest rate and scheduled payment amount. If accepted by the customer, some required documents will be uploaded on PATH to complete the underwriting process.

4. Once the loan has been approved and the documentation completed, the loan proceeds are funded to the merchant and the moneymoves brokerage commission is earned.

Benefits to customers:

1. Being pre-approved before shopping allows the customer to shop with confidence that the financing has already been approved.

2. Saves time at the merchant store or dealership.

3. Avoids uncomfortable or awkward situations if credit is denied by merchant’s financing partners.

4. Customers can often save money on additional supporting products and services (example credit insurance and extended warranties) that can be added to the loan principal in a no-pressure environment. 

Benefits to merchants: