Development of the financial operations automation app for a leading loan company

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Location: The Caribbean islands
Industry: FinTech

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Value delivered by Relevant

$100,000 saved on a year subscription to third-party loan management software.
Completely paperless process with automated document generation and signing tools.
Reduced the time needed to process a single batch file from 30 seconds to 3 seconds, significantly improving user experience and boosting client retention.
Cut maintenance costs by 4x times, enhancing financial efficiency and freeing resources for strategic investments.
A standards-compliant software solution developed with industry experts and lawyers that reduces legal risks in business operations.
Lower risk of loan defaults due to automated deductions from borrowers’ salaries.
Easily customizable functionality that enhances competitive advantage and prevents replication by competitors.
Powerful backend of the solution, coupled with modern technology, helped reduce operational costs and streamline processes for better efficiency.
A simplified loan management system and intuitive portal enhanced customer service and satisfaction.
Automated reporting and data analysis allow faster responses to market and customer needs.

Development of the financial operations automation app for a leading loan company

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Client & product

Our client is a leading loan company located in the Caribbean islands that has been serving customers for over two decades. Fully licensed and regulated by the country Regulator, they have earned a reputation for reliable and trustworthy financial services. The company provides loans from $500 to $100,000, designed for permanent employees in both government and private sectors. To make life easier, repayments are automatically deducted from monthly salaries, taking the hassle out of managing loans and keeping things simple for everyone involved.

Challenges

The company wanted to build a custom application that would revamp outdated loan management processes traditionally full of endless paperwork, slow disbursements, and clunky systems. So, the main goal was to make loan applications for customers as simple as possible and cut down processing times without sacrificing accuracy. This meant creating a streamlined digital application process, automating payments, and designing a platform where everything—applications, payments, and refunds—was easy to manage. To stand out in a competitive market, some extra features needed to be added.

Job done

Our team built a financial automation app that takes the stress out of loan management for our client’s personnel and, at the same time, offers effortless loan applications for their customers. Applying is fully digital with no paperwork or headaches involved—and approved funds are transferred instantly with automated disbursements. We added a built-in referral program that encourages existing users to invite new users, thus naturally growing the community. The app’s simple, intuitive portal puts everything—applications, payments, refunds—in one place for user convenience.

Implemented features

Loan application

We implemented a fully digital loan application system that lets users submit their requests in just a few clicks or complete the form to get personalized assistance from an agent.

Referral program integration

The app features a built-in referral program, which allows existing customers who have accounts to invite others and get bonuses for referrals upon approval of their loan application.

User-friendly customer portal

A dedicated customer portal allows clients to apply for loans and track their status in real-time with ease. In addition to account management, users can view their transaction history and estimate repayment plans with the help of an online calculator.

Enhanced reporting

We developed and tailored reporting tools to our client’s needs so their employees can easily monitor loan performance, track financial activities, and generate detailed reports like Long Aging, Principal Changes, Long Roll Forward, and Deferred Fees.

Dashboard for loan officers

It's a centralized hub for managing client information and loan applications more efficiently and conveniently. With built-in leaderboards and performance reports, officers can track their progress while automated tools process applications and generate documents.

Outcomes

The timely launch of the app saved the client $100,000 a year by replacing expensive third-party loan management software. Designed as a white-label solution, it lets the loan company adjust features and workflows to its particular needs. Automated reporting and loan management, thanks to our solution, has lowered costs and made processes much more efficient. A fully digitized loan application process, online calculator, and the ability to track the loan status or view transaction history through the customer portal gave customers more control over their finances and boosted their satisfaction.

CEO & CFO

We are pleased to recommend Relevant Software as a strategic technology partner. Throughout our collaboration, we experienced their unique balance: small enough to care, yet big enough to manage complex requirements. Their team’s size allows them to offer a personalized approach while still possessing the depth to handle sophisticated projects efficiently.

What stood out most was their realistic approach to managing expectations. They consistently set achievable milestones and communicated transparently, fostering trust and collaboration. Their dedication to exceptional customer service made a significant difference, especially in navigating project challenges smoothly.

While we have worked with turnkey solutions in the past, we found that partnering with a dedicated team like theirs provided far greater flexibility and customization. Their ability to adapt and build a tailored, sophisticated platform aligned perfectly with our evolving business needs, demonstrating a commitment to long-term success rather than one-size-fits-all solutions.

For companies seeking innovation and thoughtful engagement, Relevant Software offers a dynamic and collaborative experience that genuinely adds value.