Shaw offers a loan and lease servicing solution designed for retail loans. It offers lease management, insurance, fee processing, dealer processing as well as sales tax, property tax and income tax reporting functionalities. The product is suitable for banks, credit unions, auto finance companies and speciality lenders. Both cloud-based and on-premise deployment options are available.
The solution allows users to track loan details such as issue date, re-issue date, charge frequency and personal identification numbers (PIN). The solution also allows users to process different types of loan fees such as new loan fees, membership fees, extensions and termination fees.
The solution also offers auto dealership processing, which allows users to process both simple interest and add-on loans. Users can manage processing methods, accrual rates, holdback amount and recourse amount. Users can also calculate different leasing taxes such as sales tax, property tax and income tax.