Key Features

Rishabh Software developed a microfinance loan processing app catering to the end customers and the client’s banking partners. We re-engineered the existing loan application process and implemented a workflow engine to automate the loan process. Key features of the solution include:

Efficient Documentation and KYC Management

Our team automated document handling and KYC processes by digitizing a proprietary screening platform. This advanced system and secure document upload features streamlined compliance tasks and risk assessments.

Real-Time Application Tracking

Our team integrated front-end and back-end systems to enable real-time tracking and instant notifications throughout the loan lifecycle. This feature keeps customers informed at every stage of the loan lifecycle, from document submission to final approval or rejection status and disbursement.

Centralized Management of Applicants Accounts

The microfinance loan app’s admin dashboard was customized to process everything in one place – from tracking application statuses and automated alerts to monitoring loan disbursement and payment status.

Loan processing app features showcasing credit score

Automated Credit Processing

The app offers a module that uses proprietary algorithms that leverage alternative data sources to assess credit risk accurately and efficiently. This expedites the application review and loan disbursement process.

Loan Eligibility Calculator

The new calculation feature in the app helps determine the eligible amount by considering the applicant’s salary, liabilities, years of service, income, and other relevant parameters. If the initial loan request exceeds the calculated eligibility, the system proposes a lower alternative loan amount.

Fraud Prevention

We integrated a fraud prevention API that monitors user activities and transaction patterns in real-time to detect and prevent fraudulent activities. It verifies user identities and analyzes behavior to take immediate action if suspicious activities are detected.

Microfinance loan app development project screenshots

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