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Microloan Management Software Customization Case Study

Our end-to-end microloan management software solution allowed our client to optimize workflows, effectively automate loan processes, and successfully enter new markets. A new online loan application can now be approved in less than 60 minutes, significantly enhancing customer satisfaction and streamlining the lending experience.
Customize Microloans System

About Client

An EU-based online lending company provides a range of tailored loan products to match the unique financial situations of individuals and businesses. Our client offers an exceptional blend of flexible terms, fast funding, and advanced features for its customers to solve their short-term cash flow requests.  

With a strong commitment to innovation, the company leverages cutting-edge technology to streamline the loan application process and enhance user experience. Their customer-centric approach ensures borrowers receive personalized financial solutions that cater to their specific needs. By continuously expanding their product offerings, they remain a trusted partner for those seeking reliable and efficient financial support.

Overview

The New Norm reality has transformed our lives drastically, necessitating more innovative, responsive, and cost-effective services to fuel business initiatives and address personal financial needs. A silver bullet to many financial challenges can be found in AI-powered consultant billing software and forward-thinking microfinance assistance. Notably, AI-powered chatbots can handle up to 80% of routine customer queries in financial services, significantly enhancing efficiency and customer satisfaction.

Our client's expanded lending network is dedicated to creating individualized loan products that precisely fit customers' unique financial situations. At CleverDev Software, we are proud to contribute our expertise to this valuable micro loan software program customization project. We are ready to share our advantageous insights about the platform update process, ensuring it remains at the forefront of technological innovation.

Microloans Software Customization

Business Challenge

As one of the leaders in the micro loans software industry segment of the European Union, our client had to handle an avalanche of tedious workloads. The company was in urgent need of a powerful automation solution and a state-of-art microloan app for its loan lifecycle management.  

Before turning to CleverDev Software, the client used outdated and disconnected business solutions that involved substantial manual work and staff overload. However, the organization’s in-house team could not deliver a high-end technological upgrade to cover all the business pain points.

That is why the company decided to find a reliable outsourcing partner to customize a microloans system and develop automation support for every stage of lending operations. The cycle started from authorization and onboarding and proceeded to advanced decision-making and debt collection.

Moreover, the significant challenge of the project included exquisite adjustment of the client’s existing micro lending management software to the strict local industry laws and regulations within the EU.  

Microloans Customization Solutions

Solution

Since the challenging upgrade required robust expertise in automation solutions delivery and needed deep expertise in legal software development, our client made a wise decision to turn to CleverDev Software. We provided our partner with highly attentive professional support, optimized its workflows, and paved the way to break into the new markets.

Our dedicated team did a great deal to implement top-notch microloans software customization solutions and reinvent the lending process approach for our client.

CleverDev Software’s innovations helped to build a well-balanced loan environment with a set of practical features:

  • Multi-Factor Authentication System. It provides a stable and secure process of customers’ authentication and helps meet the EU regulations on personal data protection.
  • Tuned Onboarding Process. The intuitive and responsive design of microloan apps supplied with a smoothly-working user interface is one of the vital cornerstones in customer loyalty to the platform.
  • Workflow Automation. The intelligent back-office automation solution put the microfinance portal onto the next modern level and significantly increased the organization's productivity.
  • Reduced Underwriting and Loan Processing Time. Automated workflows set a base for significant processing improvements and reduced operation time.
  • Automated Risk Management. The feature helps automatically score and prioritize risks of loan operations.
  • Upgraded Decision Making. The feature helps make almost instant loan decisions based on automated reviews of customers’ credit stories and financial situations.  
  • Legal Integrations. The microloans customization solutions are thoroughly integrated with local banking and governmental structures and meet all EU-regulated requirements.
  • Fast Transactions. The integration with a payment provider in the microlending app allows swift money transfers with minimal fees.
  • Advanced Reporting and Analytics. A powerful analytics dashboard provides real-time insights into lending operations, helping businesses track performance and make data-driven decisions.
  • Scalable Cloud Infrastructure. The microlending solution is built on a flexible and secure cloud platform, allowing the company to handle growing customer demand and expand seamlessly into new regions.

The dedicated team of CleverDev Software professionals did its utmost to improve the microloans system of our client.  For the customization project, we implemented our top technology competencies in safe personal and financial data sharing, KYC and EU GDPR, and secure integrations with third-party providers. CleverDev Software’s team for micro loan management software system customization consisted of four senior software development engineers who fit into the existing project straight away and delivered the industry forefront solution for our client.

Customization of Clients Microloans-System Feedback
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Results

The upgraded automated solution, developed by CleverDev Software, helped customize the microloans system of our client and expand his business prospects.

Our team was responsible for the complete process of old platform evaluation, utilizing the existing data, delivering new automation features, banking and governmental systems integration, and EU legal compliance.  

We also focused on our client’s requirements and paid distinctive attention to building a promising business platform and expanding new horizons for our partner.

For now, our product is in exact accordance with our client’s goals and has remarkable results.

Microfinance Lender

Our client got a practical automated solution that cuts costs, automates tedious workflows, removes staff overloads, and skyrockets loan processing quality.

Microloans Platform User

Businesses and individuals benefit from an affordable opportunity to get required financial support with lower rates, fast approval, and strict security guarantee for their personal and financial data safety.

Regulatory Compliance Assurance

The solution ensures full compliance with evolving financial regulations, minimizing legal risks and enhancing trust among customers and financial institutions.

Scalability and Future Growth

The microloans platform is designed for long-term expansion, allowing our client to scale operations efficiently, introduce new financial products, get fully customizable lending software and enter emerging markets with ease.

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We Are Open to New Projects

When you need to develop a progressive micro lending software solution and a long-term reliable partner, make sure you turn to a professional. CleverDev Software team has exceptional approved expertise in loans and finance industry segments, legal software development and customization, medical loan software, and turning every client’s project into a success story.

So, feel free to contact our development team for the best-qualified advice on how to customize microloans software and effectively automate various business processes.

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