Custom Loan Servicing Software

The software generates individual loan amortization schedules taking into account the pre-agreed loan terms (type, price, duration, repayment frequency, etc.). It enables the instant sharing of repayment plans with borrowers via email, a lending app, or a customer portal.

Time-framed repayment amounts are calculated for each loan agreement based on custom formulas. The solution creates recurring invoices and sends them to borrowers according to a lender-defined schedule. Payment links, QR codes, and region-specific invoice elements are automatically applied to invoices.

Custom software supports multiple loan repayment methods (bank transfer, card, check, etc.) and enables real-time processing of multi-currency borrower payments via the connected payment gateways. Using the solution, lenders can auto-deduct monthly loan payments.

The solution automatically reconciles the received loan repayments and enables real-time transaction tracking by status (due, partially paid, fully paid), period, borrower, type (e.g., down payment, interest payment, service fee), and more. It instantly notifies loan officers about missed repayments.

Debts get automatically triaged for collection based on the loan amount, borrower delinquency level, debt aging, and other factors. AI can be used to analyze historical borrower interactions and payment behavior and prescribe the optimal personalized debt collection strategies.

Collectors can create custom payment reminders to debtors tailored by language, tone, frequency, etc. The software automatically sends personalized reminders, including AI-generated voice mails, to debtors via their preferred communication channels.

Loan officers can set up custom rules to initiate particular actions based on debtors’ responses. For example, they can establish automated reporting of a borrower’s delinquency to credit bureaus, triggered by receiving a debtor's refusal to pay, or automated loan restructuring upon a borrower’s request.

Configurable dashboards offer a real-time overview of served loans and portfolio transactions. The software can rely on AI to analyze portfolio profitability and risks, prescribe the optimal portfolio limits and loan trading decisions. Loan purchasing and selling orders are created and closed automatically based on pre-set rules.

The software enables real-time calculation and monitoring of all necessary metrics across the loan repayment progress, loan servicing team performance, and borrower behavior. It also generates scheduled reports on received, delayed, and missed loan repayments and submits them to the local regulators.

A built-in client portal enables borrowers to track the loan amortization progress, pay the invoices, create and submit requests for loan modification, forbearance, and transfer. The portal employs AI-based chatbots to help users solve arising issues 24/7.

Loan data and the software are protected via role-based access control, multi-factor authentication (incl. biometric authentication), data encryption (incl. asymmetric encryption for blockchain-based lending systems), AI-based fraud detection, and other robust security mechanisms.

Custom solutions provide compliance with all the required lending regulations (e.g., TILA, RESPA, HDMA, FCRA, ECOA for the US, MCD for the EU, SAMA for the KSA) and data protection standards, such as SOX, SOC1 and SOC2, GDPR, NYDFS, CCPA, and more.