A few weeks ago, we demoed LoanBoss to a prospect. Everything went smoothly—until a week later, when we received an email from them. Something was off. It was a classic phishing attempt. We didn’t open it, but we did the responsible thing and reached out to the firm.
After some investigation, we realized their email system had been compromised. And while a hacker reading their emails is bad enough, we had to ask the bigger question: What else did they have access to?
Their loan data? Quite possibly.
This is why storing critical financial data in spreadsheets, emails, or locally on a computer is a disaster waiting to happen. Hackers don’t need to break into a bank vault to access sensitive information anymore—they just need to get into an email account, where unsecured loan docs and spreadsheets are often sitting, waiting to be exploited.
A secure loan management platform doesn’t just organize your data—it protects it. It ensures your portfolio is shielded from cyber threats, keeping your financial information where it belongs: out of reach from bad actors.
That prospect? They’re now a LoanBoss client. Because after staring down a real security breach, they saw the value in having a platform designed to keep their data safe.
If your loan information is still living in Excel, email threads, or someone’s desktop, it’s time to reconsider. Don’t wait for a hacker to make the decision for you.