FinnOne Neo Corporate Loan Management has been designed to help banks and other financial institutions drive business growth with existing customers. The solution offers digitized, optimized and automated loan servicing capabilities that help drive efficiency and customer satisfaction. Along with the added flexibility with complex repayment structures including target IRR based calculations and deferred recovery structures using redemption options, the system provides the flexibility to make alterations to the future repayment structure with changes to the contract parameters anytime during the tenure.
FinnOne Neo Corporate Loan Management provides easy configurability of services such as changes in contract terms due to additional disbursements, prepayments, interest rates, tenures and repayment structures. The use of various payment methods and the associated parameters bring huge efficiencies in changes to contracts without manual intervention such as automated principal reduction using escrow payments, use of pre-defined allocation rules to reduce term or regular payments including proportionate principal reduction over the future term for a particular contract.
The Solution helps in easier compliance with regulatory and contract specific requirements with the option to maintain covenants and special terms and conditions that may be applicable on a contract, one-off or periodic in nature. Periodic condition checks can be applied by specifying a frequency with the system processes ensuring compliance to the same. Any breaches can be communicated using mails and additional charges automatically applied as per agreed terms. Tax payments are managed along with related reconciliation and compliance to local tax requirements. Stressed Accounts management, Sell Down and tracking of NOCs for multi-unit real estate projects are some of the additional features that can help bankers with specific needs.