In the field of microfinance organizations, automation trends are more and more noticeable. A lot of companies in the industry need to strictly streamline the circulation of documents, allocate resources, and build clear and understandable mechanisms for interacting with the client base. The software for loans provides information support for any lending positions. It deals with operational accounting, monitors collateral and loans. It carries out an exhaustive amount of analytical work. Also, software intelligence takes over all the necessary calculations/calculations.
If the client is late in payment, the application will automatically apply penalties, charge a penalty, and send a notification to the borrower. You can configure the currency collateral parameters yourself. Digital accounting is fast.
What Does Money Lending Software do?
The main functions of the lending management software are as follows:
- Borrower’s website and personal account;
- Wide customization of loan products;
- Borrower profile settings;
- Interfacing with popular CPA networks and other traffic sources;
- Anti-fraud and Blacklist service;
- Remote identification: BankID, Facebook;
- Verifier workstation, internal blacklist;
- Communication with payment processors;
- Settings and calendar of auto payments;
- Automation of mailings;
- Promo codes and discount system;
- Refer to a friend referral program;
- Analytics: 18 reports and Metabase business intelligence subsystem;
- Own API for developers;
- Collection status management;
- Sales of credit debts;
- Billing loans from your collection agency;
- Role-based access control;
- User activity logs;
- Document editor: contracts, agreements;
- Support for offline branches;
- Streaming archiving;
- Query performance analysis tool.
Common Features of Loan Servicing Software
The main features of the program are:
- Flexible settings of access rights for all categories of employees;
- Individual access policy for all categories of employees;
- Wide range of options for customizing lending programs;
- Automatic filling and printing of documents;
- Cash settlement, PKO, loan application, loan, and deposit agreement;
- Pre-trial letter and any other document drawn up according to your template.
Benefits and Potential Issues of Loan Servicing Tools
The key features of this solution are:
- Automation of lending processes will help to avoid the lengthy and complicated process of application approval. Thereby it speeds up the processing of accepted applications. As a result, the number of loans issued increases;
- The solution can be designed in such a way that the credit history of a potential borrower will be checked by requesting data. Thus, “bad” applications will be immediately discarded, for further consideration of which there is no point in wasting time;
- At the request of the customer, it is possible to apply scoring decision making on credit applications for small amounts;
- Automation of lending processes will simplify and speed up all its constituent processes. It starts with the formation of an application from a potential client to the moment of issuing a loan. The result is an increase in the number of loans issued and an increase in bank profits.
Loan Management Software Development
Automate the entire process of issuing a loan: from filing an application and checking data to entering into an agreement in the ABS. The system supports work on various loan products for individuals and legal entities. It allows you to process several thousand applications daily. No secret that the software is trying to take under digital supervision communication channels. It uses voice messages, Viber, SMS, E-mail. With the help of lending software development, the users can not only inform clients but also work on promoting MFI services. It will not be difficult for users to master the key principles of mass / targeted mailing. The customers can be easily organized according to certain characteristics.
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