QuestSoft
Comprehensive Compliance Software for Financial Institutions

In the last few years, financial organizations have been asked to adhere to increasingly complex regulatory burdens to address the types of loan products and protections offered to consumers. This has been to attempt to curb reckless lending practices that existed pre-2007. The steady increase in norms has forced lending institutions to spend a significant amount of time in understanding and analyzing the rules to perform all their banking functions. “We address this challenge by consolidating the regulations into a single program with multiple modules that could be activated in seconds, based on the needs of the institution,” says Leonard Ryan, President, QuestSoft.

With the help of their staff and technology, QuestSoft has always been ahead of the curve in the compliance segment. “We own one of the robust products in the market that reduces the time taken to handle loan applications. Our platform is capable of ensuring compliance at any cost, thereby reducing the occurrence of errors,” states Ryan.

In terms of other recognition QuestSoft is the current recipient of the Lenders’ Choice Award, recognizing the best vendor in the mortgage lending industry based on customer support, value and customer satisfaction beating out other prominent vendors for the title. The company received several thousand votes supporting the award. QuestSoft has held the award longer than any past finalist.

EAGLE and RELIEF can be integrated with any application for better outcome in the proceedings

For the road ahead, QuestSoft intends to explore ways to improve the process for the benefit of the customers. “We will execute this plan by using technologies that can advance our products and meet the needs of our customers in the near future,” concludes Ryan.

QuestSoft’s products are implemented across several domains such as healthcare, utilities, and finance. Numerous clients have benefited immensely from QuestSoft’s products. Ryan touches upon one such success story where they helped a mortgage company increase the efficiency in managing loan requests. “The client was processing about 75,000 loans prior to adopting our product. After we deployed our solution RELIEF, reporting loan data became significantly faster,” asserts Ryan. Embedding RELIEF into the client’s system enabled them to accelerate the operations. “Over a period of three years, loan volumes rose to over 500,000 without the need to expand the employees in the department,” he adds.

With the help of their staff and technology, QuestSoft has always been ahead of the curve in the compliance segment. “We own one of the robust products in the market that reduces the time taken to handle loan applications. Our platform is capable of ensuring compliance at any cost, thereby reducing the occurrence of errors,” states Ryan.

In terms of other recognition QuestSoft is the current recipient of the Lenders’ Choice Award, recognizing the best vendor in the mortgage lending industry based on customer support, value and customer satisfaction beating out other prominent vendors for the title. The company received several thousand votes supporting the award. QuestSoft has held the award longer than any past finalist.

For the road ahead, QuestSoft intends to explore ways to improve the process for the benefit of the customers. “We will execute this plan by using technologies that can advance our products and meet the needs of our customers in the near future,” concludes Ryan.