FAQ
What loan products are supported by Compassway?
Compassway Product Engine allows you to create unique loan products tailored to your needs. The platform combines payday loans, microcredit, Buy now - Pay later, student loans, etc.
You can also easily create individual product structures. You can quickly set up a new product, conduct appropriate tests, and reap the benefits of new product launches in a matter of days. This creative, versatile and unified set of solutions will help your company meet current and future challenges.
What stages of the lending process are covered by Compassway lending software?
Compassway lending software closes the full lifecycle of the lending process. From loan application, borrower assessment and credit decisioning to servicing, collection, reporting, and more. Our unified solution allows you to manage the entire lending process from one admin panel, which allows you to increase the efficiency of management.
Does the system support processing loans with different conditions, down payments, rates, early repayments, etc.?
Definitely yes. The Compassway system allows you to create an unlimited number of products. You can flexibly customize all loan products as far as you can imagine. In addition to product settings, you also have the ability to manage the rules of a powerful AI decision engine and scorecards settings.
Can I integrate Compassway with other solutions?
Absolutely yes. The possibilities for integration are unlimited.
You can create, test, and apply custom APIs with the Flow Building tools and built-in configurator. Perform a visual integration process without code. Use reliable and convenient version control and management tools. Track the performance of your integrations, their uptime and security.
Can the system manage different IR calculation logic?
Yes, the system supports the following IR calculation logic depending on number of days in a month and in a year: 30/360, 30/365, fact/365.
Does the System support multiple currencies?
In the system currency is a unit with which the system operates. This unit can have different names but should be divided on 100. The system doesn’t support currency exchange calculation.
Can the system support multiple languages? Which languages are currently supported?
For today the system supports Polish, English, Ukrainian and Russian versions. Additional languages will be added to the system as the geography of the system evolved.
Will the system accommodate a flexible fee structure (i.e. late fees, NSF fees)?
Fees, penalties, commissions and triggers to start calculate them are fully configurable in the system and can be set up as a percentage or as an amount of currency.