Consolidation, not just a new loan type
Refinancing isn’t a standalone product. It’s a restructuring of debt that already exists, often across multiple loans and sometimes multiple lenders. The platform is built precisely around that: it brings in existing loan data, consolidates it, and re-issues a single facility with new terms.
Re-assessment at the point of refinancing
Rather than carrying over the original loans’ unchanged terms, the solvency assessment engine re-evaluates the applicant against current refinancing criteria when the application is made; therefore the new facility reflects present circumstances, not historical ones.
A fully digital application
Application, solvency declaration, and approval all run online. There’s no requirement for an in-person visit or paper documentation, which matters for a product where the borrower is often already juggling multiple existing obligations and friction works against tight deadlines.
Bringing in loans from outside the platform
Existing loan data, whether from a legacy system or another lender’s book, can be brought in via the API as the basis for a refinancing application, rather than requiring you to re-originate everything from scratch inside CreditOnline’s system first.