Lap Loanround credit
Lenders with a clear sense of community and a desire to provide their clients with the most fair possible business, their interest rate would be below the sector level, so spreads would be relatively narrow. Therefore, it was necessary to have a credit risk mitigation solution that would implement significant levels of automatization and intelligent processes to minimize recruiting.
Lending Software Solutions' Deployment Support group, led by a customer -owned project manager, conducted several scope and requirement interviews with the Financial Service Operation teams to gain a clear understanding of what they wanted to accomplish and within what timeframe. Among them were wide-ranging debates on the desirable set of regulations for the automatic solvency machine, which third parties' information systems to use, the loan format and financing and collection practice.
On the basis of our comprehensive experiences in the field of retail loans, we were able to provide the customer with various suggestions covering these areas. The Places for People Financial Services division was successfully and punctually started at the beginning of 2016 and recorded a sound operating result and triple-digit percentage increases. Using the system's capabilities, which provide significant automated loan decision-making and loan handling, they were able to significantly improve their level of operations without having to expand their workforce.
It has provided a durable and scaleable pricing framework that offers the most fair interest on loans to clients who, in some cases, may have relied on higher interest borrower borrowings. Combining our sophisticated decision and credit automation technologies with our extensive sector expertise, we were able to deliver a very satisfying within time and budget resolution.