- Retail
- B2B Loan Management Software
B2B Loan Management Software for a Bank in Asia
In the realm of micro-lending banking across Pakistan and Africa, a remarkable transformation has taken shape through the "Infinity Loan Origination System." Developed in collaboration with Txend, a prominent custom software engineering company, this system is designed to catalyze change. The bank behind this innovation is on a mission to revolutionize the micro-lending landscape, replacing cumbersome paper-based processes with cutting-edge technology. The Infinity Loan Origination System not only automates the loan origination process but also standardizes the decision-making process by eliminating human judgment, thus enhancing operational efficiency and compliance with standard operating procedures.
Problem
Prior to the implementation of the Infinity Loan Origination System, the micro-lending bank faced a multitude of challenges. The use of traditional paper-based processes not only hindered operational efficiency but also introduced the potential for errors and delays. Field officers played a vital role in the loan origination process but often introduced an element of subjectivity in decision-making. Standardizing loan approvals and ensuring adherence to company checklists was a complex and time-consuming task.
Moreover, the bank sought to scale its operations to reach thousands of people, and the existing manual processes were simply not conducive to achieving this goal. Field officers needed to collect videos, images, and documents during the loan application process, further complicating an already intricate system.
Solution
Enter the “Infinity Loan Origination System.” Txend’s custom software engineering expertise was harnessed to design a comprehensive solution that addressed these challenges head-on. This innovative system streamlined the entire loan origination process, transforming it into an efficient, digital workflow.
The heart of the solution lies in its ability to replace human judgment in the decision-making process with a standardized checklist. Field officers are guided by the system, ensuring that loan applications adhere to company-defined criteria. This not only minimizes subjectivity but also enhances the consistency and fairness of the lending process.
The application’s capability to capture videos, images, and documents during the application process has significantly enhanced data collection and verification. This not only ensures compliance with the bank’s standard operating procedures but also reduces the risk of errors and fraud.
By automating and digitizing the loan origination process, the Infinity Loan Origination System has set the stage for the bank to scale its operations, effectively extending micro-loans to thousands of individuals in Pakistan and Africa. This case study delves deeper into the intricacies of how Txend’s custom software engineering prowess transformed a paper-bound process into a streamlined, technology-driven engine for financial inclusion.
TechStack
AngularJS, ReactNative, NodeJs, GCP, Microservices, Restful
