Platform provides efficient solution for the whole life cycle of every loan with specialized built-in modules for origination, risk assessment, loan management, report generation, debt collection, and compliance procedures.
It has been developed as a scalable platform that helps to automate all business process in your organization there by helping your business improve efficiency , reduce operational expenses and grow your portfolio .
With us you automate all those manual tasks that keep you from growing your business, have the ability to offer loan products that are competitive, region specific and appealing.
Our solution includes
1. Loan Origination.
2. Risk Assessment.
3. Loan Management.
4. Debt Collection Procedure.
5. Tracking & Reporting.
Loan Origination
Loan Origination System is developed specially to support the loan application processing needs microfinance institutions.
Our Loan Origination Software helps MFI completely digitalize the onboarding experience. Our end to end software solution covers various loan product.
The process of issuing a loan involves a series of steps right from acquiring a borrower, to processing their information, to vetting their credit standing, documentation and then finally either approval and disbursal of funds or disapproving the loan.
Risk Assessment
When it comes to application processing, underwriting, and decision-making,
AI decision engine is driven by powerful self-learning algorithms based on both traditional and alternative analytical methods and data sources.
Using customer data, the system learns to manage loan applications by using prediction, clustering, classification, and association.
Our solution offers customized scorecards based on proprietary models that combine both traditional and innovative borrower-evaluation approaches and data sources.
AI applications are able to analyze data to identify patterns and make decisions based on them.
Additionally, AI applications are programmed to learn from the data they are supplied with, either as a one-off at the time of their design, or on a continuous basis, to refine the way decisions are made over time.
Loan Management
A highly efficient software solution must be simple. Every contact between your staff and customers is automated, monitored, and recorded in our user-friendly loan management workspace.
Authorize users to utilize the workspace, service loans from a unified interface, and get the benefits of a fully integrated lending solution.
Debt Collection Procedure
You may choose between automated and on-demand debt collection procedures. When combined with customizable notification options by email, SMS, hard-copy letters, or voice calls, and connecting your system to the leading payment providers, this allows you to collect debts on your own terms.
All of this is supported by automated reporting features and in-depth non-compliance analytics.
Tracking & Reporting
Monitor staff performance, evaluate data, and make compliance easier.
The Compassway system is GDPR-ready, and thanks to having enhanced reporting and intelligent origination capabilities, it makes regulatory lending compliance a piece of cake. Make your loan program's contributions more transparent internally and the whole lending process easier to manage.
Digitize operations to achive efficiency
Accurately assess and qualify customers for the appropriate loan product.
Set up automated or manual workflows. Leverage third party resources.
Reduce process time -overall lending process from 3 days to 2 mins.
Improve data quality and speed through real-time integrations (credit bureaus, scoring, identity, etc.) and flexible end-to-end workflows between the front and back office.
Increase outreach through digital channel
Digitalize traditional distribution channels, such as branches, field services and agency banking.
Expand into remote, underserved markets at a minimal cost.
WHAT CUSTOMERS SAY
We used to have an older system that required more than a day to update or deploy a new risk model. In addition, credit decisions were slow. We estimated we were losing 15% of customers due to abandoned applications. For millennials, who are now a majority of our clients, responsiveness and convenience are key for lending services.
We implemented an end-to-end digital lending platform offered by CompassWay and it allowed to significantly improve customer retention. Up-to-date risk models also mean lower defaults rate and improved profitability. The system is easy to work with in case we need to add new clients or product types. We also received excellent customer support from CompassWay team. Overall very satisfied with the upgrade decision.
Denis Bobrov, CFO of CreditUP