Front view of light silver bank vault door, closed. Bank technology to keep information safe and secure. Concept: How does Camino Financial use bank technology to offer the best loan process?
Italia Martinez Vallejo
By: imartinezvallejo
Read in 9 minutes

How does Camino Financial use bank technology to offer the best loan process?

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Nowadays it’s normal to share information every single day through the internet. That’s why security is of the utmost importance, especially when the information we share is sensitive or confidential.

You need to make sure that when you decide to get a small business loan, the online lender of your choice utilizes the best technology that allows for a smooth loan process whilst also making sure that your information remains secure.

A good lender will implement bank technology in order to do so.

At Camino Financial, we ensure that you have an amazing loan process, so you can be sure that we use the best bank technology to handle with care all your information.

Why is bank technology important?

When you apply for a small business loan online, the lender asks for a lot of sensitive information and documents about your business in order to verify your identity and protect both you and your business, as well as themselves, from fraudsters that may be falsifying information.

You need to make sure you get an online lend securely by choosing a lender that always uses the best tools to manage and securely handle your information.

To ensure that all of your information is safe, besides checking the credibility of the lender, be sure to understand the bank technology used by them to guard your business information in the best way.

Most of the times, online lenders use third-party systems to manage and secure information. These tools allow the lender to loan the money in the fastest and safest way possible. If you’re still in doubt, it’s better that you get familiar with these systems.

The bank technology Camino Financial uses

If you are applying for a small business loan with Camino Financial, you can rest assured that your information will be 100% safe.

To handle most of the decision-making process, we use in-house technology: software we have built from the ground up. We have also leveled-up the safety of our processes with third-party applications that are integrated into our process.

These tools are what makes us one of the best and fastest options out there. Here are some few facts about our bank technology tools.

  1. Plaid

Plaid is a tool that allows us to safely and securely connect with your bank and get the information we need in order to evaluate your loan request. With Plaid we can instantly view your bank transactions and verify your identity.

We can only see the current available balance and all the transactions back up to the number of months the Bank or the Institution allows. 

We use it to calculate cash-flows, estimate income and the capability to service debt, as well as spending patterns.

For example, someone who spends a lot of money every month on gambling or that spends a  large portion of their income on luxury items might not be the best person to handle a loan.

However, someone who spends more on security systems for their home or invests on business growth is someone who will probably handle their loan better.

How is Plaid safe for your information?

Plaid works with the same encryption as your bank, it’s the safest software you can get. Information such as username and passwords are never viewed or stored.

  1. Docusign

DocuSign is a tool that allows you to electronically create and sign documents in a safe and eco-friendly way.

With this tool, you can sign your loan contract online wherever you are without having to print, sign, scan and send it back to us. Everything is done digitally and it saves you time and resources. At Camino Financial, we use DocuSign to automate the contract sending, identification process, and signing.

How is DocuSign safe?

DocuSign is compliant with the US and International electronic signature law. This means that the documents you sign with it have legal value. DocuSign shows when a document is protected with a digital signature and does not allow anyone to change any terms in the contract or agreement once the document is signed. 

But that’s not all, DocuSign also has one of the most advanced user verification processes to make sure that everything and everyone is legit. 

  1. SSL Encryption 

First of all, what is encryption? It means that certain information or messages are encoded in a way that only those with certain permissions can access them and those who don’t have the permissions can’t access them.

SSL stands for Secure Sockets Layer, and it helps sensitive information, like your login credentials and credit card information, to be transmitted securely.

A website needs to be SSL certified to safely manage important information. Camino Financial is SSL certified and you can be sure that all the internet traffic is encrypted with bank-level security.

How is SSL Encryption safe?

It creates an encrypted link between the server and a client. To make sure that the site you’re browsing is secured, look for the URL starting with “https://” or for a closed lock icon 🔒 in the URL bar on your browser. 

  1. LexisNexis

LexisNexis helps its customers with solutions and decision tools that combine advanced technology, data, and advanced analytics to make better and timelier decisions. It helps organizations prevent and manage risks like fraud, identity theft and financial crimes between others.

At Camino Financial, we use LexisNexis to identify clients and prevent fraud so that both sides can be safe and there’s a bond of trust.

  1. Twilio

Twilio allows its users to enable communication systems in their website to reach their customers easily and efficiently. This means that the customers can be reached by phone, message, video or chatbot to assist, remind or just to connect with them.

At Camino Financial we use Twilio to automate notifications and keep you updated as to the status of your application. For us, it’s important that you have the information you need whenever you need it so that you have a smoother loan application experience.

Camino Financial works to keep your information secure

Bank technology is important for you and for the lender. Having proper communication and safe information sharing allows both to build trust and have a magnificent loan experience.

It is important that you find a lender that can protect your information and provide a bank-level security process so you can rest assured that your information will be safe and that you’ll be getting the money needed to continue building the business of your dreams.

Here at Camino Financial, we will be more than happy to help you with your financial needs with a loan process that is not only safe but it can be processed within a few days. Apply now for a loan with Camino Financial and take a step closer to your goals!

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