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Microloans Software Customization

Our end-to-end microloans customization solution allowed our client to optimize workflows, effectively automate loan processes, and successfully enter new markets. A new online loan application can now be approved in less than 60 minutes.
Customize Microloans System

About Client

An EU-based online lending company provides a range of tailored loan products to match the unique financial situations of individuals and businesses. Our client offers an exceptional blend of flexible terms, fast funding, and advanced features for its customers to solve their short-term cash flow requests.
Technologies
Angular
JPA
Spring
Spring Boot
Banking system integration
Governmental system integration
team
A dedicated team of 4 developers
Duration
1 year

Overview

New Norm reality has transformed our life drastically. We need more innovative, responsive, and cheaper services to fuel our business initiatives and close personal requests. A silver bullet to answer a lot of financial issues can be provided by forward-thinking microfinance assistance.

The expanded lending network of our client is focused on the attentive creation of individualized loan products that precisely fit customers’ particular financial situations. We, at CleverDev Software, are proud to make our expert input into this valuable microloans software customization project. We are ready to share our advantageous insights about the platform update process.

Microloans Software Customization

Business Challenge

As one of the leaders in the microloans industry segment of the European Union, our client had to handle an avalanche of tedious workloads. The company was in urgent need of a powerful automation solution for its loan lifecycle management.

Before turning to CleverDev Software, the client used outdated and disconnected business solutions that involved substantial manual work and staff overload. However, the organization’s in-house team could not deliver a high-end technological upgrade to cover all the business pain points.

That is why the company decided to find a reliable outsourcing partner to customize a microloans system and develop automation support for every stage of lending operations. The cycle started from authorization and onboarding and proceeded to advanced decision-making and debt collection.

Moreover, the significant challenge of the project included exquisite adjustment of the client’s existing microloans software to the strict local industry laws and regulations within the EU.

Microloans Customization Solutions

Solution

Since the challenging upgrade required robust expertise in automation solutions delivery and needed deep expertise in legal software development, our client made a wise decision to turn to CleverDev Software. We provided our partner with highly attentive professional support, optimized its workflows, and paved the way to break into the new markets.

Our dedicated team did a great deal to implement top-notch microloans software customization solutions and reinvent the lending process approach for our client.

CleverDev Software’s innovations helped to build a well-balanced loan environment with a set of practical features:

  • Multi-Factor Authentication System. It provides a stable and secure process of customers’ authentication and helps meet the EU regulations on personal data protection.
  • Tuned Onboarding Process. The intuitive and responsive design supplied with a smoothly-working user interface is one of the vital cornerstones in customer loyalty to the platform.
  • Workflow Automation. The intelligent back-office automation solution put the microfinance portal onto the next modern level and significantly increased the organization's productivity.
  • Reduced Underwriting and Loan Processing Time. Automated workflows set a base for significant processing improvements and reduced operation time.
  • Automated Risk Management. The feature helps automatically score and prioritize risks of loan operations.
  • Upgraded Decision Making. The feature helps make almost instant loan decisions based on automated reviews of customers’ credit stories and financial situations.
  • Legal Integrations. The microloans customization solutions are thoroughly integrated with local banking and governmental structures and meet all EU-regulated requirements.
  • Fast Transactions. The integration with a payment provider allows swift money transfers with minimal fees.

The dedicated team of CleverDev Software professionals did its utmost to improve the microloans system of our client.

For the customization project, we implemented our top technology competencies in safe personal and financial data sharing, KYC and EU GDPR, and secure integrations with third-party providers.

CleverDev Software’s team for microloans system customization consisted of four senior software development engineers who fit into the existing project straight away and delivered the industry forefront solution for our client.

Customization of Clients Microloans-System Feedback
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Results

The upgraded automated solution, developed by CleverDev Software, helped customize the microloans system of our client and expand his business prospects.

Our team was responsible for the complete process of old platform evaluation, utilizing the existing data, delivering new automation features, banking and governmental systems integration, and EU legal compliance.

We also focused on our client’s requirements and paid distinctive attention to building a promising business platform and expanding new horizons for our partner.

For now, our product is in exact accordance with our client’s goals and has remarkable results.

The Microfinance Lender

Our client got a practical automated solution that cuts costs, automates tedious workflows, removes staff overloads, and skyrockets loan processing quality.

Microloans Platform Users

Businesses and individuals benefit from an affordable opportunity to get required financial support with lower rates, fast approval, and strict security guarantee for their personal and financial data safety.

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We Are Open to New Projects

When you need to develop a progressive software solution and a long-term reliable partner, make sure you turn to a professional. CleverDev Software team has exceptional approved expertise in loans and finance industry segments, legal software development and customization, and turning every client’s project into a success story. So, feel free to contact our development team for the best-qualified advice on how to customize microloans software and effectively automate various business processes.

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