Loan Module

Structure transparent loan management experience

General Description

The Loan Module leads the activity flow after the Application Processing Module, by automatically loading loan application details and supporting the process of loan approval and disbursement through the entire repayment period.

Loans can be directly prepared and activated from the loan form, after which transactions are automatically posted in General Ledger and matched on predefined posting schemes, accordingly when the repayment process starts and payments from borrowers arrive, they are automatically tracked in the repayment plan and matched on corresponding accounts in the General Ledger.

The entire loan documentation can be predefined and categorized to follow the loan process flow and client business needs, generated from the system and allowing the borrower to receive a printable copy.

Integral part of the loan process is the Action List which automatically logs the time between every activity, status changes, also works as a Blog System for leaving comments and keeps track of the entire communication per loan, such as tasks, exchanged messages, loan’s legal activities, and other written and verbal communication, easily accessible from one location. This module supports performance of advanced operations with which the repayment plans can be modified, in order to align loan’s repayment plans with borrower’s possibilities for repayment and to provide options for restructuring loan agreements, early maturity, early restructuring, write-off and rollback on agreements activation, payments received and disbursed as well as matured installments.

Key Features

  • Richer Loan Lifecycle Experience Fast adaptation to changes is what makes companies successful and that is why it is important to be able to modify loan conditions, in order to align with borrower’s abilities for repayment, by using the advanced operations to write-off matured amounts, mature payments and repay a loan earlier than planned.

  • Loan Process Control Keep complete control over your loan process and gather minimum mandatory borrower’s documentation and data for analysis on the beginning and flexibly add additional information, on the go through the loan process flow.

  • Effective creditworthiness analysis Ensure that borrower and loan performance are always in line with the initially made assessments, by repeatedly evaluating their creditworthiness even on loan level during loan life cycle and be able to compare results received on loan application level. By tracking borrowers more closely you can easily respond to changes that affect the repayment process.

What
clients say
  • "It's an outstanding system. Having a full overview and control over the branch operations in due time is a huge advantage when corrective actions should take place. Before ASPEKT, it was difficult and lot of effort was invested, to analyze the performance and make conclusions that will lead to improving business processes." - Credit Director
  • "Before ASPEKT, I had to remember all loan conditions, criteria and other rules and I was continuously under pressure not to make any errors. I felt a huge relief when ASPEKT system was introduced, everything is now predefined: amount limitations, interest rates, provisions, etc., even the loan contract templates are automatically generated so no additional double-checking is needed." - Loan Officer
  • "With Aspekt Microfinance Software, we have complete control over the corporate portfolio. Our active portfolio is monitored accurately and we are able to make future assumptions based on historic data, making precise risk assessment." - Risk Manager
  • "Aspekt Microfinance Software helped me better manage my time. When I start in the morning, I can make a quick review for: status of open loan applications, loan disbursements, clients with payments due for the day, new loan in arrears, portfolio outstanding, etc. Everything can be found from one location, so I can efficiently prioritize daily tasks and coordinate other activities with my colleagues." - Loan Officer
  • "Administering one system, from one central location saved time, improved the control and security mechanisms of our IT Department. I’m more than glad to recommend this highly flexible solution to other companies." - System Administrator
  • "With the integrated functionalities and controlling procedures in Aspekt Microfinance Software, we could easily locate a breach of procedures and prevent frauds. The solution is adjusted to detect errors and inappropriate transactions." - Risk Manager
  • "Before ASPEKT, I couldn't monitor neither review my performance. I waited for my Branch Manager to receive reports from head office, to find out about exact number and amount of outstanding loans, PAR and delinquency, drop-outs etc. Now with Aspekt Microfinance Software, I can even predict my performance in near future." - Loan Officer
  • "Before ASPEKT, the field audit in a single branch could last for 4-5 days. Now, with ASPEKT I can do most of the preparation work in my office and be more efficient on the field." - Internal Audit
  • "I can't imagine that all client's information and records are at one place. Before ASPEKT it was extremely difficult to check the credit history of returned clients, and we could make mistakes and approve loans even to rejected clients. With ASPEKT we can also review the repayment history of clients coming from other branches." - Loan Officer
  • "Before ASPEKT, we didn't have reliable information to assess performance. We were overburden with forms and excel spreadsheets and no information on how other branches perform." - Branch Manager
  • "With Aspekt Microfinance Software we can efficiently and accurately control all cash transactions. Borrower's cash receipts are printed from the system only when payment transactions are entered by Loan Officers. This prevents from handing over the cash outside of branches." - Internal Audit
  • "I'm happy now that Loan Officers I'm supervising can spend much more time on a field with clients. Before ASPEKT, the manual administrative work occupied so much of their time so that they were unable to recruit new borrowers and reach the projected growth." - Branch Manager
  • "Once ASPEKT was introduced, our efficiency increased, allowing our MFI to grow by 50% with current human resources. Aspekt Microfinance Software contributes on replacing the manual and routine tasks, so that staff can spent more time on innovations and development." - CEO
  • "ASPEKT is not just a simple loan tracking software. I used to travel in every branch once per month to monitor and appraise each branch performance. Now, I can monitor the progress and identify weaknesses from distance." - Credit Director
  • "With this vendor, we didn’t receive just a system sophisticated to be administered independently from the vendor, we also got entire team that supports us in any situation and is more than happy to help us continuously improve our operations." - System Administrator
  • "Aspekt Microfinance Software as one integrated solution offers full coverage of MFI's business process. It's an excellent management tool that improves decision-making processes. The flexibility and adoptability perfectly match the dynamic environment in which our MFI operates." - CEO
  • "With the centralization of the data we got smart system that streamlines all financial activities we perform on a daily basis. Payment transactions are automatically posted in general ledger and our department is able to perform complex financial analysis, using customized financial reports." - Accounting Officer
  • "Aspekt Microfinance Software is very flexible and managed to fully incorporate our internal risk management policies and procedures. I can generate customized reports on clients and loan portfolio and closely monitor and analyze the credit risk before and after disbursements. The information from the system is the baseline for any improvements on risk policies and procedures I have recommended." - Risk Manager