FinnOne Neo Loan Management System (LMS)

Functional Details

FinnOne Neo LMS includes the features required by a lender in the servicing process:

• Effective support for front office operations: Provides a consolidated and comprehensive view to the Financial Institution’s user to access entire information pertaining to the Customer

• Customer 360° view: Centralized window for request mechanism to capture any service requests

• Digital Backbone: Comprehensive set of web-services to enable a vast set of transactions like STP from digital front end to enable complex process automation 

• Buy Now Pay later: Handle nuances such as periodic billing of utilized amount, interest free periods and balance configurations easily

• Flexible Payments Handling: Supports various over the counter payment modes such as cash, cheque/draft, credit card/debit card and electronic fund transfer

• Modification to Existing Loans: Enables easy simulation and execution of modification to existing loans

• Interest and Charges Accrual: Supports definition of different frequencies and methods of interest accrual

• Operational Efficiency: Straight through and bulk processing capabilities and API stack for digital loan servicing

• Effective Customer Communications: Standard set of letters, SMS, emails with password protection can be sent to the customer

• Flexibility: Defining various types of transaction policies, allocation priorities and configurations

• Integrated Accounting: Setup specific chart of accounts and accounting strategies

• Multi Repayment options: Support for equated, graded and structured loans

• Delinquency Marking: Proactive monitoring of quality of loans

• Loan Restructuring: Create restructured loan transactions. System provides separate transaction policy configured for restructured loans

• Balance transfer: Supports both internal/external loans with/without top-up

• Dynamic Fields & Custom Sourcing: Capability to add user defined fields and forms

• IFRS 9 compliance: Capability to amortize acquisition costs and expenses during loan booking

• Flexible Repayment Frequency:  Daily, weekly, monthly, annually and more repayment frequencies supported for both, single & multi-disbursals

• Queue based asynchronous Servicing: Avoids repeated disbursal entry for loan booking by providing zero downtime routine

• Value Added Products: offer loan & value added products such as home saver loan, insurance, additional covers & additional financing

• Loan linking: New loan account can be auto linked with other existing loan accounts basis application number or collateral number

• Loan cancellation simulation: Provision to simulate cancellation of loan along with the cancellation of Value Added Products (VAPs)

• Integration with FinTechs: API based infrastructure helps lenders quickly connect with the extended ecosystem to provide sophisticated capabilities such as digital Verification of KYC, bank statement analysis etc.

• Collateral Linking: Provision to link an existing collateral to an active/closed loan

• Lease: Capabilities include handling both graded and equated rentals, Tax Re-computation, residual value computation, security deposit handling, tax treatments on lease rentals, lease cancellation, lease termination and comprehensive reports on leasing accounts

• Non installment loans: To power various credit line and overdraft products

• Flexi / Overdraft loans: Various repayment plans such as Equated, Balloon and Bullet

• Days past due (DPD) freeze: Avoid degradation of asset classification for a specific period with DPD Freeze

• Moratorium support: Handle regulatory requirements such as back-dated moratorium, auto adjustment of repayment schedules, exclusion period maintenance and NPA stage retention with ease