Technology provider, Syphr, LLC, has created a major change in the online loan lead generation game with its consumer-facing, loan evaluation website called SaveOnYourLoans.com.
This new website works by eliminating the consumer's time-consuming burden of gathering their billing statements and comparison shopping for reduced loan payments - doing it all for them. SaveOnYourLoans.com is also the entry point for its complementary RateMatch service - Syphr's patent-pending, online platform for consumers to secure cost-saving deals on refinancing with a local, community-based bank or credit union. The service officially launches November 2, 2009.
"It occurred to us that consumers wanted information that was local and actionable," says Chris Langley, President of Syphr, LLC. "We wanted to create a site that evaluated their existing loans in real time and let them know if they could save money through refinancing based on their credit score and current market rates at a local, community-based bank or credit union."
Syphr, along with partners EQUIDATA and Innovative Software Solutions, built SaveOnYourLoans.com to shift the burden of comparison shopping for commodity bank product items - such as mortgages and car loans - from consumers to retail financial institutions. Current comparison processes of financial rate sites like LendingTree and Bankrate cut out small banks and credit unions from the pricing and product equation.
"Our goal with SaveOnYourLoans.com has been to create a consumer experience that is separate and distinct from that of other loan aggregation and lead generation sites," says Langley. "Ultimately, the goal is to reverse the traditional seller-centric methods used by sites like LendingTree and Bankrate, changing the lead generation game as we know it."