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Leasing

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Leasing

Leasing

Today customers expect seamless, quick and personalized digital experiences. Leasing companies need to have processes that are easily configurable, highly flexible and completely automated to deliver faster and customer centric services. Additionally, they need to put in place a strong risk and compliance management framework that is standardized and can be easily adapted to the fast evolving regulatory and business requirements. FinnOne Neo, the market leading digital lending software enables leasing companies to do all this and much more. FinnOne Neo supports an array of Financial and Operating leasing options including consumer vehicle, commercial vehicle, commercial equipment and farm equipment and provides comprehensive capabilities for unique needs of each. We design, develop and configure computer hardware and software for banks and other organizations in the lending industry.


FinnOne Neo for leasing provides end-to-end coverage across origination to servicing and collections, with unmatched depth in each functional area.

  • FinnOne Neo

FinnOne Neo offers automated workflows, configurable business rules and policies along with a highly parameterized design that enables leasing providers to launch new and innovative products extremely quickly. With FinnOne Neo, leasing companies can easily configure and modify the business process workflows as per the credit guidelines, add pricing strategies, user responsibilities and administrative override parameters. The extensive API capabilities in FinnOne Neo help leasing companies integrate seamlessly with the wider lending ecosystem and leverage the power of FinTechs in delivering sophisticated digital capabilities.


FinnOne Neo comes with complete support for the unique requirements of leasing business such as residual value accounting, security deposit calculations, tax handling, asset depreciation and contractual mileage with proficiency. The solution allows lenders to offer multiple installment plans including equated, graded and structured installments. FinnOne Neo for leasing delivers the required flexibility to reschedule lease contract with changes in residual value, due date, taxes and interest. During lease termination, the solution provides lease closure simulation facility, has provision for reversal of residual value and charges, can adjust security deposit / residual value, provide under-utilization rebate and collect over utilization charges. In addition, FinnOne Neo supports both cloud and on-premise deployments which can be deployed quickly in partnership with leading cloud providers without high upfront capital expenditure.


Financial Lease

In the financial lease, the title ownership is transferable to lessee on lease completion and the risk of obsolescence falls with the lessee. FinnOne Neo supports the specialized requirements of financial lease such as interest accrual accounting and provision for buyback of the asset at the end of the lease agreement with ease. The item is treated as an asset is the books of the lessee and the solution provides sophisticated accounting management for tax purpose as per the regulatory requirements.


Operating Lease

In the operating lease, the lessee provides rentals to the lessor for a relatively short period of time with no risk of obsolescence and no requirement of asset maintenance. FinnOne Neo provides rental accrual accounting and multiple asset depreciation methods such as straight line and straight line days difference methods. The solution has the provision to display asset depreciation details at termination along with P/L closing position.

Business Benefits

  • Achieve greater efficiency, boost margins, and mitigate risk
  • Profit from error-free, fully digitized operations
  • Boost agility with highly configurable rules and policies
  • Enhance user experience through a rich workflow based origination
  • Ensure accounting compliance with tailored reporting and alerts
  • Scale easily to match aggressive business growth

Unique features

FinnOne Neo for leasing includes the features required by a lender:

  • Residual value and security deposit capturing
  • Margin Money capturing and Amortization
  • Lease booking
  • Financial lease buyback
  • Multiple repayment options
  • Limit monitoring for moveable assets
  • Multi asset sourcing and disbursal
  • Equated, Graded and Structured repayment options
  • Ready FinTech integrations for RC verification, fraud check and more
  • Instrument capturing
  • Handling of Taxation on rentals and interest
  • Asset Depreciation handling for operating lease
  • Comprehensive verification / valuation
  • Collateral and insurance management
  • Payment dues management
  • Field collections with legal case handling
  • Rescheduling repayment, residual value, due date, interest rate
  • Structure and tax rate revision
  • Value added products and periodic charges
  • Digital enablers such as APIs, STPs and schedulers
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