mLoan: Advanced Loan Management System
Increase Your Profitability, Gain Stable Growth
The loan market is becoming ever more mature and more competitive. Over recent years several dozen new players joined in offering their products through many sales channels – primarily the Internet. Also the interest in this type of offering is growing on part of banks. In addition, the new legal regulations are curbing the revenues from interest, fees and commissions. To remain competitive, loan companies must focus on operations optimisation and also on swiftly reacting to market trends and changes. Achieving such goals in every mature industry is no longer possible without support of mature IT tools. The loan industry is no different now, where these harsh conditions may profit only those who will be able to act swiftly and effectively – reducing costs and precisely targeting clients with new product offerings.
mLoan Advantages Over Competition:
Low Entry Barrier
Softman offers its clients also a hosted operation of the system. In such case the mLoan is made available on the Softman Cloud Platform that utilises proven Oracle technologies, allows full management of all system layers and provides the SLA as required by the client. Subsequent scaling of the system, to meet both the growing performance needs and expanding functionality, takes place in a flexible pay-as-you-grow model.
Reduction of Operating Costs
mLoan was designed to allow implementation of a fully automated loan processing. Nothing stands in the way to minimise operator interventions only to exception handling, thus limiting the business operating costs. In addition, the processes reconciling the sales channels (agents, brokers) may also run automatically. At the same time the system assures full audit trail of all operations performed.
When developing the system we have leveraged our know-how and many years of experience in supporting clearing and settlement processes and financial flows at diverse institutions we have the pleasure to collaborate with. We have designed a solution that assures efficient defining and launching new products, allowing their quick market introduction to gain competitive edge.
Extended mLoan Functonality:
Softman mLoan is a solution that services the complete process of loan granting: commencing with the sales channel, through client authentication, submission of application, risk analysis, scoring, credit decision, contract entry, loan activation, up to collection process management, ending with profitability analysis. Implementation of mLoan avoids the additional costs of integration and operation of several solutions in parallel.
mLoan provides reports both on operations level as well as presenting the fulfilment status of assumed KPIs. It is also possible to expand the reporting functionality with cross-sectional and synthetic analyses performed with a recommended Business Intelligence tool. Such reports may provide additional information necessary to managers both in on-going and in strategic dimension.
mLoan is of modular design allowing flexibility of selection of the required components for implementation, thus reducing its time and cost. Such strategy allows further functional development of the system in future and scaling it up to meet the growing business needs. The component integration method is based on Service Oriented Architecture (SOA) model.
Thanks to the use of a business process generation model based on compositions consisting of independent autonomous web services, they can be modified and parameterised to a broad extent: interest calculation rules, commissions, interest rates, generation of schedules, refinancing, credit payment holidays, collection paths, etc., as well as freely integrated with external systems. This in fact allows fine-grained customisation of the system to company’s needs.
The core part of the mLoan system (the clearing and settlement engine) responsible for execution of all financial processes and meeting the requirements of the Sub ledger is the result of our work and of over 25 years of experience in developing clearing and settlement systems. By selecting Softman mLoan you get the guarantee of a mature product, free from conceptual deficiencies, operating process faults, fraud resistant and developed based on proven Oracle technology.
The architecture of the system assumes tight integration between its modules that at any time assures access to consistent information about the clients and their loan liabilities, including potential arrears. By selecting mLoan you get a guarantee of correct reporting of consistent information to the BIK (a mandatory requirement in Poland as of October 2016), for any selected point in time, as well as support for automatic generation of reports complying with the JPK requirements.