This is a comprehensive online credit solution for any kind of cooperative organization, banking institution, or finance company. This script includes all necessary resources for handling loans, payments, and other loan-related duties. In contrast, this system allows you to create different kinds of accounts for each individual customer and provides multiple account features including checking and savings accounts. There are ten well-known online payment processors included in this system, including PayPal, Stripe, Razorpay, PayStack, Flutterwave, BlockChain (Bitcoin), VoguePay, CoinPayments (Crypto), InstaMojo, and Mollie. Payment gateways are primarily utilized to rapidly deposit funds into consumers’ accounts automatically. You may quickly connect your preferred SMS gateway for SMS notifications with this script, which also includes 4 well-known SMS gateways.
This system is easily translatable without modifying any code. Installing this script on your server doesn’t require any additional coding expertise. With the help of our language management tool, you may convert this system into additional languages and install it with a single click.
Features
Multiple Account Types:
You can create various account kinds, such as those for borrowers, guarantors, or admin users, and alter the permissions and access levels for each account type using this functionality.
Management of loans :
You may control the loan application, approval, payout, and repayment processes with this tool. You can create different loan products, choose fees and interest rates, and monitor payments and balances.
Loan Guarantor :
With the help of this tool, you can include a guarantee on a loan application who will be in charge of paying back the loan in the event that the borrower defaults. The system will be used to assess the guarantor’s creditworthiness and store their data.
Fee for auto maintenance:
The calculation and charging of loan maintenance costs is automated by this function. The fees may be fixed or dependent on a percentage of the loan’s total amount, and they may be set up to reoccur periodically.
Deposit Money:
With the use of this tool, borrowers can deposit funds into their loan accounts, which can then be used to pay back the loan or lower the balance owed.
Member Administration:
Borrower profiles, contact details, and loan records can all be managed through this section of the loan administration system.
Google ReCaptcha V3:
By confirming that the user is a human being and not a bot or automated script, this feature adds an additional degree of protection to the loan application process.
Notifications through SMS:
With the use of this function, critical events like loan approval, disbursement, and payment due dates are automatically notified through SMS to users who are either borrowers, guarantors, or admin users.
Templates for emails:
Using this feature, you can design unique email templates for automatic email notifications like approval of loans, disbursement, and reminders for payments.
Gateway for PayPal:
With the help of this tool, borrowers can make loan payments using their PayPal accounts, offering a simple and safe payment method.
Gateway by Razorpay:
Borrowers can use this tool to pay back loans through Razorpay, a well-liked payment gateway in India that accepts a variety of payment options.
Gateway for Blockchain (BTC):
With the help of this tool, borrowers can pay back their loans with Bitcoin, a decentralized digital currency that offers quick and affordable transactions.
Gateway for Vogue Pay:
Borrowers can make loan payments through Vogue Pay, a payment gateway that accepts a variety of currencies and payment methods, including bank transfers, card payments, and mobile money.
Pay stack Gateway:
Utilizing Pay Stack, a well-liked payment gateway in Nigeria that accepts a variety of payment options, including payment by card and bank transfers, this feature enables borrowers to pay back loans.
SMS Gateway by Twilio:
This function uses Twilio, a well-known SMS gateway provider, to automatically send borrowers, guarantors, or admin users SMS notifications for significant events like loan approval, disbursement, and payment due dates.
Text Magic SMS Gateway:
This feature uses Text Magic, a well-known SMS gateway provider, to automatically send borrowers, guarantors, or admin users SMS notifications for significant events including loan approval, disbursement, and payment due dates.
System user administration:
This feature lets the administrator handle system users, including their profiles, login information, and access levels.
Account Summary:
Borrowers can use this tool to access their account statements, which include the history of transactions, loan balance, and payment due date.
Transaction Reports:
This function generates reports regarding loan transactions, including loan disbursements, repayments, interest, and fees.
Backup of a database:
This feature ensures that data is not lost in the case of a system failure or error by automatically creating backups of the loan management system’s database.
Multi-currency:
This feature supports several currencies, allowing borrowers to make loan payments in their home currency while also allowing the system to maintain loans and transactions in different currencies.
Managing Collateral:
You can use this function to control the criteria for the release, appraisal, and valuation of collateral assets.
Interest Calculation:
This function computes loan interest rates and fees automatically based on the loan amount, repayment time, and other criteria.
Management of several branches:
You may manage several divisions of your loan management company with the help of this tool, which also lets you manage borrower profiles, products for loans, and transaction reports.
Money Withdrawal:
Borrowers can withdraw funds from their loan account subject to various conditions and restrictions.
Expense Control:
The administrator can use this function to control costs, such as employee pay, rent for offices, and other overhead costs, as well as to produce reports on costs and revenue.
Email notifications:
For significant events like approval of loans, disbursement, and payment due dates, this functionality automatically emails alerts to borrowers, guarantors, or admin users.
Local Notices:
The borrower’s device will receive push alerts from this feature for crucial occasions including approval of the loan, disbursement, and due dates for payments.
Templates for SMS:
With the help of this function, you may design unique SMS templates for pre-programmed notifications like loan approval, payment reminders, and distribution.
Using Stripe Gateway:
Through this feature, borrowers can pay back loans through Stripe, a well-known payment processor that accepts a variety of payment options, including Apple Pay and card transactions.
Flutter wave entry point:
Utilizing Flutter Wave, a payment gateway that accepts a variety of payment options, involving payments via card, bank transfers, and mobile money, this characteristic enables borrowers to make loan payments.
Gateway for Coin Payments:
Borrowers can use the CoinPayments gateway to make loan payments in cryptocurrencies like Bitcoin and Ethereum.
Instamojo Gateway:
With the use of this tool, borrowers can pay back loans through the Instamojo payment gateway, which accepts a variety of payments including card and UPI payments.
Mollie Gateway:
Utilizing Mollie, a payment gateway that accepts a variety of payment options, including payments with cards, bank transfers, and PayPal, this characteristic enables borrowers to make loan payments.
Infobip SMS Gateway:
Using Infobip, a well-known SMS gateway provider, this functionality automatically SMS-notifies borrowers, guarantors, or admin users of crucial events including loan approval, disbursement, and payment due dates.
SMS Gateway by Nexmo:
This function uses Nexmo, a well-known SMS gateway provider, to automatically SMS notify borrowers, guarantors, or admin users of crucial events including loan approval, payout, and payment due dates.
Dynamic Access Control:
The administrator can use this functionality to define permissions and access levels in accordance with roles and responsibilities for various users and user groups, setting up dynamic access control.
Loan Due Reports:
This function provides reports on loans that are past due, including the loan amount, repayment date, rate of interest, and remaining balance.
Cost Reports:
This function creates reports on the loan management system’s expenses, such as employee pay, rent for offices, and other overhead costs, giving information on profitability and cost management.
