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FinnOne Neo Loan Management System

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70+ customers use Nucleus Software's Lending Management module

FinnOne Neo Loan Management System (LMS)

Product Module Overview

FinnOne Neo LMS is an advanced and comprehensive bank loan management system that aims to improve the quality, turnaround time and service for end-customers. It enables banks to improve the agility, transparency and efficiency of their lending solutions. As a loan management solution, it enables financial institutions to automate the processes for achieving cost savings and enhanced customer experience.

FinnOne Neo LMS supports both cloud and on-premise deployments. It can be deployed quickly in partnership with leading cloud providers without high upfront capital expenditure. Cloud deployment provides flexibility in scale while optimizing costs by supporting pay-per-use models.

Business Benefits

FinnOne Neo LMS provides below business benefits to banks to optimize their consumer lending solutions:

  • Business agility
    Faster time-to-market with new products launch
  • Operational efficiency
    Enhanced operations and service levels with optimal cost
  • Business growth
    Support for multiple product lines, multiple-channels with business analytics
  • Enhanced manageability
    Consolidation and automation of lending processes
  • Customer satisfaction
    Straight-through processing for quick disbursal of loans and other customer requests

Functional Details

FinnOne Neo LMS includes the features required by a lender in the servicing process:

  • Effective support for front office operations: Provides a consolidated and comprehensive view to the Financial Institution’s user to access entire information pertaining to the Customer.
  • Customer Service: Comprehensive window for request mechanism to capture any service requests
    • Digital Backbone: Comprehensive set of web-services to enable a vast set of transactions like STP from digital front end to enable process automation 
  • Flexible Payments Handling: Supports various kinds of payments
  • Adjustment Postings: Enables various types of Adjustment entries as per the business requirements
  • Modification to Existing Loans: Enables easy simulation and execution of modification to existing loans
  • Interest and Charges Accrual: Supports definition of different frequencies and methods of interest accrual
  • Operational Efficiency: Straight through and bulk processing capabilities and API stack for digital loan servicing
  • Effective Customer Communications: Standard set of letters that can be sent to the customer
  • Flexibility: Defining various types of transaction policies, allocation priorities and configurations
  • Integrated Accounting: Setup specific chart of accounts and accounting strategies
    • Multi disbursal: Support for equated, graded and structured loans
  • Delinquency Marking: Proactive monitoring of quality of loans
  • Loan Restructuring: Create restructured loan transactions. System provides separate transaction policy configured for restructured loans
  • Balance transfer: Supports both internal/external loans with/without top-up
  • Dynamic Fields & Custom Sourcing: Capability to add user defined fields and forms
  • IFRS 9 compliance: Capability to amortize acquisition costs and expenses during loan booking
  • Flexible Repayment Frequency:  Daily, weekly & bi-weekly repayment frequencies supported for both, single & multi-disbursals

  • Queue based asynchronous Servicing: Avoids repeated disbursal entry for loan booking by providing zero downtime routine

  • Value Added Products: Enables financial institutions to offer loan & value added products such as home saver loan, insurance, additional covers & additional financing which considerably reduces customer acquisition, servicing & marketing costs thus substantially increasing the profit margins for the FIs

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Technical HighLights

FinnOne Neo LMS is designed by adopting the latest technological stack; offering SOA architecture. This aids in customization and interfacing with other applications in the enterprise eco system and enables straight through processing. FinnOne Neo LMS provides:

  • Responsive User Interface: Smart, modern and responsive for best view
  • Cloud Ready: Operating system and database independent; Multi-device Support
  • User Access management: Integrated with a central SSO system to leverage single sign on and central identity management

Line of business covered